Kuwait Finance House (KFH) has received 12 prestigious awards from the Islamic Finance News (IFN), which announced the list of winners for 2022 at a ceremony held in Dubai.
KFH won the awards: “Best Islamic Bank in Kuwait”, “Best Investment Bank in Kuwait”, “Best Corporate Bank in Kuwait”, “Best Retail Bank in Kuwait”, “Most Innovative Bank in Kuwait” and “Best Digital Offering in Kuwait”. KFH-Turkiye won three awards: “Best Islamic Bank in Turkiye”, “Best Retail Bank”, “Most Innovative Bank in Turkiye”, and KFH-Turkiye deal for the issuance of Sukuk with $5.5 billion won the best deal in the Turkish market. KFH also won the Deal of the Year award for KFH's acquisition of AUB – Bahrain, and the Deal of the Year award for the acquisition category.
KFH Acting Group Chief Executive Officer, Abdulwahab Iesa Al Rushood expressed his delight with these accomplishments, saying that these awards confirm the success of KFH's contributions in various fields, the sustainable growth in its profits and financial indicators, as well as the strength of its business, the diversity of its activities, and its innovative financing solutions that enabled it to deserve these awards, competing with prestigious international institutions.
Al Rushood added that KFH is moving forward with the digital transformation policy, meeting the aspirations of its customers, and enhancing its market share through products and services that reflect its pioneering role, innovation, and tangible additions in Islamic finance, praising the distinguished relations with major companies to finance the most important and largest development projects.
Al Rushood pointed out that the award for the most innovative bank in Kuwait is the culmination of a series achieved by KFH in the field of digitization, technical applications and automation of all transactions and services, which was requested for credit transactions through the website, and the issuance of bank cards automatically within 3 minutes for the first time in Kuwait. KFH also allows non-customers to open an account through a self-service kiosk and directly communicate with customer service. In addition, KFH has been a pioneer in implementing many products and services and the automated system that expressed a strategic orientation towards digitization.
On the other hand, Al Rushood indicated that KFH’s acquisition of AUB-Bahrain is a historic transaction that resulted in the establishment of a huge banking entity, and the transformation of KFH into the largest bank in Kuwait and the second largest Islamic bank in the world in terms of assets, which enabled the bank to consolidate its leadership in the Islamic banking industry and contributed to expanding its geographical reach.
Al Rushood added that KFH's contributions in arranging and managing major Sukuk issuances in terms of value and return confirm its important role in the Sukuk markets as a major trader and market maker at the regional and global levels, reflecting a strong financial and prestigious position, and experience in the field of Sukuk that has become the first choice for companies and governments to finance projects, development, and growth plans.
It is worth mentioning that IFN Group selected KFH for these awards based on the recommendations of a jury of experts and analysts specialized in the Islamic banking sector, and according to a set of financial criteria, principles, and indicators. IFN Group honors institutions providing the best Islamic financial services every year from among a global elite of markets and sectors, as well as honoring the entities participating in leading deals in the Islamic banking sector.
The jury also praised KFH's position and solvency, innovative financing solutions and various contributions to enhancing the Islamic banking sector around the world with advanced products and services that suit the requirements of individual customers, companies and governments while considering the factors of environmental preservation, sustainability, governance, development programs and community growth.
IFN provides Islamic Finance and banking industry awards and publishes articles about the banking sector. Established in 2004, IFN is a subsidiary of REDmoney and has offices in Dubai and Kuala Lumpur.