“Global Finance” has named Kuwait finance House (KFH) the safest Islamic Financial institution in Kuwait, and the third in the GCC for the year 2015. The bank is ranked as one of the top two among all Kuwaiti banks, be it Islamic or conventional. Also, Global Finance announced the 50 safest banks in emerging markets 2015 where KFH was ranked in 28th place.
Global Finance’s safest banks rankings have been the recognized and trusted standard of financial counterparty safety for 24 years. Banks were selected through an evaluation of long-term foreign currency ratings, credit ratings, businesses, financial indicators and total assets. Global Finance study encompassed more than 500 largest banks in Asia, the GCC and MENA.
“This ranking confirms KFH’s robust financial position, sound pursued procedures in addition to the professional and legislative commitment. The ranking affirms KFH’s strong foundations providing safety and security in this rapidly-changing market landscape. It also reflects the volume of KFH’s businesses, products and services not to mention the prudent decisions that hinder the bank and its clients from the repercussions of markets turmoil” said KFH Chief Executive Officer, Mazin Al-Nahedh.
He added in a press release that despite the fierce competition and the relatively limited segments of clients, KFH remained committed to add value to its clients, most notably the security and peace of mind that enabled the bank to achieve sustainable growth and confront markets’ volatility and different challenges, yet boosting clients’ confidence and increasing its market share to maintain top spot in the local market.
Al-Nahedh continued: “KFH is determined to continue its flagship role in the Islamic finance industry by innovating new Islamic financial products and services as alternatives to the conventional ones. The bank will assume greater role in supporting the development plans in the region and the global markets”.
He indicated that KFH received several prestigious awards and recognitions from local, regional and global entities in recognition of its achievements at all levels. These awards motivate KFH for exerting further efforts to remain the world’s leading Islamic financial institution.