Kuwait Finance House "KFH" chairman, Mr. Hamad Abdulmohsen Al-Marzouq stated that he is fully committed to continue KFH reformation process based on the responsibilities which bank shareholders have decided unanimously to lay upon his shoulder and the shoulders of his fellow board members.
He added that "despite the major and deep-rooted reformations which the bank has been through last year, yet the bank still needs major significant efforts to alleviate the banking and financial services level which, by the grace of Allah, shall be upgraded and developed to cope with and fulfill shareholders future ambitions, goals and expectations.
Mr. Al-Marzouq emphasized that the bank's development process and strengthening of its position locally and regionally has begun. Customers, including retail, corporate or private banking customers have already started noticing developments on services provided by the bank
Mr. Al-Marzouq reiterated that the bank board of directors is committed to the highest level of professionalism in regard to credit facilities. KFH has adopted highly professional and prudent risk management standards in regard to finance facilities provided. These steps aim to ensure commitment to Sharia requirements and preserve depositors and shareholders rights. Mr. Al-Marzouq denied that the bank has any plans or intentions to purchase any debts from other banks or has made any request in this respect to CBK. He added that his fellow members of the board and executive management are directly responsible for every Dinar spent by KFH.
He concluded his statement saying that "I have been honored to serve my country previously by working in the government sector for more than 11 years. I have worked in Central Bank of Kuwait during the darkest times i.e. aggressive Iraqi invasion and the reconstruction stage with a group of good and virtuous brothers. However, I have reiterated earlier that I'm still performing my duties at Kuwait Finance House. This is the final stage of my career which has lasted 28 years in banking sector and will not settle for any other alternative at present". He urged shareholders to disregard and ignore all false and fabricated news which aim to cause confusion and interruption. The fabricated false news carry within them the agendas of all those who are affected by the ongoing restructuring and reformation process at KFH. Meanwhile he reiterated that the bank's performance and results during the next periods shall, by the grace of Allah, be the best witness on the bank's performance and the board and executive management commitment to achieve the general targeted goals of the bank and its shareholders.