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Kuwait Finance House publishes ‘The Pioneers of Islamic Economy based on KFH’s Experience’

Kuwait: Tuesday, March 04 - 2008 @ 10:37

The book was written by Dr. Abdul Muhsen Al-Jar Allah Al-Kharafi, and includes the autobiography of 57 pioneers and establishers of KFH in 450 pages.

In the introduction of the book, the Chief Executive Officer and Managing Director Bader Abdul Muhsen Al-Mukhaizeem stated that KFH’s administration was keen on documenting and saving the achievements done by KFH’s early pioneers, to honor their accomplishments that pushed KFH to be one of the best Islamic banks in the world.

The book also highlights their efforts in building KFH, which is now a symbol for the Islamic financial business all over the world. KFH is highly appreciated by several nations and countries, in addition to parties specialized in banking and financial business, like central banks and major global rating agencies, which tended to give KFH the highest ratings on the Islamic financial business level.

He added that these initiatives and exerted efforts had a profound impact in maintaining KFH’s pioneer status by entering markets and innovating new tools and products, plus stepping up its financial, economic and social role, to enter a new phase of development; these efforts were the results of this uniqueness.

Regarding the efforts of the first KFH employees, Al- Mukhaizeem mentioned that they reflected the legitimate identity, to become the universal Islamic banking model, within a clear strategy that aims to offering the best to the clients and meeting their expectations by developing our products, in addition to improving the quality of services and upgrading the performance of the employees, plus binding them to society, which they are a part of. The Fatwa and Shariah board and the specialized banking technicians’ efforts are some of the main reasons in the success of KFH.

Ahmed Al-Bazeea

Al-Mukhaizeem mentioned in the introduction of the book the clear vision of the pioneer of the Islamic banking industry and the first founder of KFH Ahmed Bazeea Al-Yasseen. Al-Mukhaizeem said: we have to start by mentioning what Ahmed Al-Yasseen, the pioneer of Islamic banking offered. Because of Allah’s help, his dedicated efforts, and the assistance of his brothers in the board and the employees of KFH, they managed to build the pillars of Islamic banking in Kuwait; they also managed to move KFH from one phase to the other, until it became capable of competing against other banks, and a maker of the domestic market. Moreover, Al-Yasseen is the head of Al-Fatwa and Sharia board at KFH and other Islamic corporate, to enrich them with his limitless knowledge in the Islamic economy, which he absorbed from the late Sheikh Bader Al-Metwally Abdul Basset, the first Sharia supervisor in KFH.

Al-Kharafi the author

Al-Mukhaizeem praised the efforts of Dr. Abdul Muhsen Al-Kharafi in publishing this book in all its glory, through interviews and notes taken by him and his team. He added that KFH would update this issue in the coming years to save the continuous accomplishments, thanks to Allah and the great efforts that the employees exerted. KFH welcomes any criticism or corrections regarding any information in this book.

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Tuesday, March 4- 2008 @ 10:37 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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