Kuwait Finance House (KFH) was named “The Best Islamic Bank in the Gulf” and the “Best Islamic Bank in Kuwait” in the Global Finance Group Awards.
The awards were accorded in recognition of the bank’s countless successes, its local and global expansionary measures as well as the bank’s ability to match risks and investment opportunities, business requirements and growth.
A statement released here on Friday by Kuwait Finance House (Malaysia) Bhd said KFH Chief Executive Officer Mohammed Suleiman Al-Omar received the awards in Istanbul.
” These awards recognize the bank’s commitment and adherence to the global banking rules and standards. KFH has now become a symbol for the Islamic finance industry in Kuwait as well as around the globe,” he was quoted as saying in the statement.
Al-Omar said the Gulf was a promising market and it had also obtained an investment banking license in Saudi Arabia, executed major real estate development projects in the eastern areas as well as other major cities in the Kingdom.
In the meantime, KFH-Bahrain, since its inception seven years ago, has been actively involved in infamous projects in the region, namely “Durrat Bahrain” and “Muharraq Homes”.
KFH had also facilitated the transfer of a conventional bank, that is, the National Bank of Sharjah to a full-fledged Islamic bank.
” KFH is continuously working on strengthening its commercial ties, building cooperation, communication bridges and channels with countries where it operates.
” These include Turkey, Malaysia, Singapore, Jordan, Bahrain, Australia and Saudi Arabia,” he said.
KFH has invested a total 15 million Kuwaiti Dinar over the last decade in the Gulf region via financing of projects of various industries.