Kuwait Finance House (KFH) won 4 prestigious awards from Islamic Finance News Magazine (IFN), which are “Best Islamic Bank in Kuwait”, “Syndicated Deal of the Year” where KFH was an arranger and part of EGA (Emirates Global Aluminum) US$4.9 billion Commodity Murabaha based Syndicated Term Financing Facility, “Kuwait Deal of the Year” where KFH was an arranger and part of Boubyan Tier 1 US$250 million Sukuk, in addition to “US Deal of the Year” award for KFH acquiring office tower in US for $165 million.
Group Chief Retail and Private Banking Officer, at KFH, Waleed Mandani stated on the sidelines of receiving the awards in the award ceremony held in Dubai in presence of Abdullah S. Alhaddad Senior Vice President - Investment Banking Division, and Saleh T. Al Khamees Senior Vice President- Real Estate Division from KFH-Capital, that the awards culminate the bank’s efforts in offering highest standards of Islamic financial services in different geographies where KFH operates. The wards confirm KFH’s pioneering position in the Islamic finance industry. They are an impetus for further achievements and success towards better addressing the customers’ needs and ambitions.
He added that KFH attaches great importance to the service quality and integration among group banks. KFH managed to offer an integrated system of technical, financial, and banking services. The bank has vast experience in balancing Shariah requirements with the latest banking technology.
He emphasized KFH’s leadership in the field of Islamic banking, since it was the first Islamic bank in Kuwait, and highlighted the bank’s fruitful efforts in expanding in various markets.
Mandani stressed the importance of operating as per strategy and plans in all markets, while focusing on the local market, indicating that all of KFH’s global success would have never been attainable, if the bank did not have a solid platform and high level of professionalism.
KFH has an impeccable record in arranging sukuk deals and leading financing for development projects in several vital sectors, which contributes in boosting the national economy.
It is noteworthy that KFH has been selected for the awards by IFN’s judging panel that groups a number of experts in the Islamic banking industry through an intensive evaluation process according to a set of principles and financial indicators.
IFN is a well renowned institution in the Islamic banking industry which publishes various studies and articles around the banking sector. It is affiliated to REDmoney, the foremost global provider of specialized Islamic financial media services across three core divisions of events, publishing and training. Established in 2004, the firm has offices in Dubai and Kuala Lumpur.