Kuwait Finance House (KFH) won “Best Treasury and Cash Management Bank in Kuwait” Award 2021 from Global Finance Magazine in its twenty-first annual Best Treasury and Cash Management Banks and Providers awards.

General Manager-Treasury Kuwait at KFH, Ahmed Essa Al-Sumait, said that:” The award reflects the prestigious position KFH enjoys in the treasury and cash management. This deserved win crowns KFH efforts in offering innovative financial and banking solutions as well as advanced digital platforms in treasury for customers according to the highest quality standards.”

He added that KFH offers diversified portfolio of foreign exchange and capital market products to facilitate customer activities and provide them daily with the latest global market news as well as tailored innovative financial solutions. Moreover, KFH offers products and services such as Sukuk, Euro settlement, FX sale and purchase, gold account, KFH global platform, FX Waad forward, profit rate swap and other treasury services and products. 

Al-Sumait pointed out that KFH has a team of national professional youth skills with sufficient experience to manage all treasury activities and serve customers by using advanced technological solutions to enhance performance efficiency.

 “Seeking to meet business requirements and maintain leadership at all levels, KFH is keen to keep abreast of latest treasury products while completely adhering to shariah principles and achieving performance excellence,” He said.

Al-Sumait explained that as for the treasury, there are harmony and coordination between KFH Group subsidiaries in Kuwait, Turkey, Germany, Bahrain, Malaysia and Saudi Arabia, noting the importance of KFH geographical spread within regional and global banking network.

“Smart management of cash and treasury systems were essential over the past year of pandemic-induced chaos,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance. “Our awards pinpoint the financial entities that shepherded their clients through the crisis with real-time insights and strategies that worked even at a time of rapid and dramatic changes.”

Award criteria

Global Finance used a multi-tiered assessment process—which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent research—to select the best providers of treasury and cash management services. A variety of subjective and objective criteria were considered, including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision.

It is worth noting that Global Finance, founded in 1987, has readers in 191 countries and 34 years of experience in international financial markets. The magazine is an international reference in the financial sector, covering topics of corporate finance, joint ventures, capital markets, currencies, banks and risk management.