Kuwait Finance House (KFH) has received 5 reputable awards from EMEA Finance in its 15th edition of Middle East Banking Awards for the year 2022, in recognition of its leading role in offering many digital solutions and initiatives, outstanding commitment to customers, and the integration of sustainability standards and its financial performance excellence during a busy and productive year.
For the second year respectively, KFH won the awards “Best Islamic Bank in the Middle East”, “Best Bank in Kuwait”, “Best Islamic Bank in Kuwait”, “Best Islamic Bank in Bahrain” and for the first time the bank won the Sustainability award in the Middle East.
EMEA Finance awards are among the most outstanding awards in the banking sector in the Middle East region to honor banking institutions based on their financial performance, service quality and distinction in the banking sector. The awards of this prestigious financial magazine are based on fundamental calibers to select the best banks. Calibers include bank’s market share, products growth in the market, profitability, innovation in services and products and the quality of its business strategy.
On receipt of the awards during the awards distribution ceremony in Dubai, KFH General Manager, Treasury – Kuwait, Ahmad Al-Sumait said that “We are pleased to receive the awards which have affirmed KFH reputable position locally and globally. These awards are an addition to the series of awards and honors which the bank received earlier”.
He added “KFH shall continue its methodology which focuses on providing the best innovative digital banking solutions, meeting customers’ needs and contributing to sustainable development in the communities in which the bank operates by financing projects and promoting financial inclusion”.
Al-Sumait emphasized that KFH targets strategic priority sectors by using a variety of financing products, pointing out that the spirit of innovation continues to drive the bank’s growth and enhance its impact in providing new sharia compliant financing solutions.
Al-Sumait concluded his statement saying “KFH has exploited all its capabilities to develop innovation in Islamic finance industry, create a positive impact in the markets where the bank operates and enhance economies. These awards and recognitions would not have been possible without the bank shareholders and customers trust in addition to the outstanding efforts and talents of employees”
In a comment on KFH wining of the “Sustainability” Award in the Middle East for the year 2022, KFH Executive Manager, Governance and Sustainability, Mohammad Alarbeed said that the selection of KFH to win this award was based on certain criteria which the magazine takes into consideration during the evaluation process. They include the financial institution’s adoption of environmental, social, and corporate governance (ESG) practices at the core of its operations, in addition to the inclusion of sustainability initiatives into the company’s products and services.
Alarbeed added that KFH’s activities as a pioneer in the field of Islamic finance are aligned with sustainability goals and standards. This is reflected in its recent shift towards supporting sustainability through green Sukuk issuance, Keep It Green campaign, signing sustainability agreements with official parties e.g., UNDP, launch of the group integrated sustainability strategy. The strategy included the launch of sustainability report which included the inclusion of environment, society, and governance elements in KFH activities, management, and operations. Also, the report included the analysis and measurement of the economic, social and environmental impacts whether on the operational level or business continuity with the aim of achieving an added value for shareholders and customers.
It is worth mentioning that the British magazine “EMEA Finance” covers all dynamic financial markets in Europe, Middle East, and Africa through highly specialized analysis by a team of professional experts.