Kuwait Finance House (KFH) is the first bank in Kuwait to successfully apply 360T solutions for a centralized and integrated FX trading transactions for all Group Banks (Turkey, Germany, Saudi Arabia, Malaysia and Bahrain) through KFH – Kuwait.
KFH – Kuwait Treasury General Manager, Ahmad Eissa Al-Sumait said that KFH launched the new FX trading service in collaboration with 360T, a web-based Forex trading technology company of Deutsche Börse Group.
In a statement to the press, Al-Sumait added that through 360T solutions, KFH offers an exceptional service to its customers that enables them to sell and buy currencies at instant and variant rates 24 hours a day across weekday, saying that this will grant customers a competitive profit margins due to the efficiency of KFH’s exposure to currencies rates fluctuations and operational risks, unlike the profit margins from the transactions that don’t take place during work hours.
Al-Sumait stated that the new automated service, which adds a competitive advantage to KFH, is part of KFH’s digital transformation strategy and confirms the Bank’s pioneering position in offering digital financial solutions that meet customers’ needs and aspirations.
He pointed out that 360T supports KFH’s digital transformation efforts by providing a wide range of technology-based tools and solutions required in the FX operations in a dynamic, immediate, and centralized manner. KFH is considered the main liquidity provider of foreign currencies to all banks of the Group.