Group Chief Strategy Officer at Kuwait Finance House (KFH), Eng. Fahad Khaled Al-Mukhaizeem said that KFH is proud of its role as a strategic partner in the Turkish economy and the Turkish banking sector, indicating KFH-Turkey was established in 1989 and it is now the largest Islamic bank in Turkey.
Al-Mukhaizeem’s statement was made, during his speech at the Ramadan Ghabqa of Embassy of the Republic of Turkey in Kuwait that was sponsored by KFH. The Ghabqa was held at Sheraton Hotel in the presence of many officials, ambassadors, and Heads of diplomatic missions.
Al-Mukhaizeem added that the close bonds between Kuwait and Turkey go back many many years, and hopefully they will continue for many more, noting that KFH-Turkey helped finance several vital projects in Turkey which had a positive impact on the Turkish economy.
He explained that KFH-Turkey is currently the largest bank operating in the participation banking sector in Turkey with around 40% market share, over 400 branches and around 6000 employees.
He continued: “As an active member of the Turkey-Kuwait Business Council under the Foreign Economic Relations Board (DEiK), KFH is taking part in enhancing the already strong economic relations between the two countries. KFH Group was honored to be part of the financing deal for the Çanakkale bridge, which is the largest of its kind in the country, with approximately 72 million KD. In Kuwait, KFH financed half of LIMAK’s KD 249 Million facility for the construction of Kuwait International Airport’s new passenger terminal.
Al-Mukhaizeem said: “We at KFH are proud to be part of the economic and cultural bridge between Kuwait and Turkey. We have a strong belief in the Turkish economy, and the serious steps taken by the Turkish Government to involve participation banks in the country’s development.”
He affirmed KFH’s commitment as a key partner in Turkey's economy to maintaining the strong Kuwaiti-Turkish relations, hoping for more growth and prosperity.
He expressed his thanks to Her Excellency Ambassador of Turkey to Kuwait Ayse Hilal for her kind invitation to sponsor and attend the annual 'Ghabga" held by the Embassy of the Republic of Turkey in this Holy month of Ramadan, indicating it is always a pleasure to be part of these events which reflect the firm and flourishing Kuwaiti-Turkish relations.
Meanwhile, Ambassador of Turkey to Kuwait Ayse Hilal praised the role of KFH in strengthening ties between Kuwait and Turkey. She added that KFH is a world leading Islamic financial institution and has a proven track record of achievements.