Kuwait Finance House (KFH) was awarded Best Islamic Bank in Kuwait award by Euromoney magazine for the second consecutive year. The award comes in recognition of the bank’s contributions to the Islamic banking and financing market, and underscores the bank’s leading status in Islamic banking. The achievements made by Islamic banking highlight the success of the Kuwaiti private sector.
Deputy General Manager for International Banking and Investment, Abdullah Al-Marzoug stated while receiving the award in London, that KFH received numerous awards last year from prestigious local, regional, and international bodies in various fields. He added that rating agencies affirmed KFH’s ratings due to its accomplishments in various fields of Islamic banking and the society.
Moreover, he mentioned that the indicators achieved last year, whether in profits or achievements related to operative performance, ensure that KFH is on the right track. He explained that despite the fact that KFH has received the most awards in various fields of its business, it continues to search for other fields to make further accomplishments, in order to continue spearheading the field of Islamic banking. He revealed that KFH managed to adhere to Islamic Shariah while using cutting-edge technology, which allowed KFH to overcome countless obstacles. It is worth noting that KFH is considered to be an authority in Islamic banking, which allowed it to pave the way for an integrated industry that plays an effective role in the global economy.
KFH operates in a very competitive market in Kuwait, where it competes against traditional banks, and five Islamic banks, in addition to a branch of a GCC bank. The high demand for Islamic products and services has a positive impact on KFH’s market share, which allowed it to continue to lead the local market.