Kuwait Finance House (KFH) Group Chief Corporate Banking Officer, Yousef Almutawa, said that KFH is strengthening its role in supporting SMEs clients by providing financing, and adopting advisory partnerships. This support is rooted in KFH’s recognition of the significance of this sector as a pillar of local economy and a driver of social impact, especially in creating employment opportunities and developing national young talents.

In his speech during the national initiative “Capital of Opportunities”, held under the presence and patronage of the Governor of Kuwait Capital City, Sheikh Abdullah Salem Al-Ali Al-Sabah, Almutawa added that KFH takes pride of its leading position in developing the SMEs sector, in terms of financing volume, customer segment, the diversity and quality of its products and services. He pointed out that many of the SMEs began their success story by securing financing from KFH.

“We are hopeful of witnessing further successful stories led by young ambitious entrepreneurs as part of our commitment to supporting entrepreneurship and enhancing the role of SMEs, considering the vital role in social and economic development” Almutawa further noted, “This commitment is also in line with our efforts to enhance our market share in this sector, and develop our suite of services and products to support businesses and activities across all economic sectors in which these companies operate.”

Almutawa highlighted KFH’s major products and services offered to support and develop SMEs in Kuwait, pointing out that KFH is one of the first banks to establish a dedicated department for financing this segment and provide a set of integrated banking and financing solutions tailored to their needs.

He added: “KFH’s main cash financing services include Murabaha, Tawarruq and Ijara. The non-cash finance includes various types of letters of credit and letters of guarantee. KFH also offers other services such as Point of Sales, e-banking services that facilitate the management of the businesses’ accounts and transfers in addition to other various innovative services.”

During a ceremony held to honor the sponsors and participants of the event, the Governor of Kuwait Capital City, Sheikh Abdullah Salem Al-Ali Al-Sabah honored KFH in recognition of the Bank’s efforts geared towards supporting SMEs and its participation in the forum. Meanwhile, Yousef Almutawa received an honor trophy on behalf of KFH.