Saturday , November 18 2017

KFH support to SMEs dates back to 1980s, says Al Kharji – Bank playing significant role

KUWAIT CITY, Oct 25: Group Chief Corporate Banking Officer at Kuwait Finance House (KFH), Ahmed Soud Al Kharji said the bank is a pioneer in supporting the youth and the small and medium-sized enterprises SMEs, indicating this dates back to the 1980s.

AlKharji made his statement during his participation in a panel session themed “Entrepreneurs’ Opportunities in Private Sector” on the sidelines of the 6th edition of the Youth Empowerment Symposium “Tamkeen” held at Sheikh Jaber Al Ahmad Cultural Centre.

He added that KFH had established a dedicated department with highly qualified team especially to serve the SMEs segment, underscoring the instrumental role of this business in the development as it comprises the seed for creating jobs for the youth and achieving prosperity in the country. He indicated that the credit limit of the SMEs portfolio at KFH is nearly KD 300 mln dedicated to offer credit facilities to these companies.

He said that KFH is a success partner with the SMEs and entrepreneurs, noting that several companies started their relationship with KFH with a credit facility of KD 50K, and now the credit facility surged to reach KD 3 mln. This underlines the significant role of KFH in improving these businesses and transferring them to large companies.

It is worth noting that KFH won “Best SME Customer Service Award” from “the Banker Middle East” magazine. The award acknowledges KFH’s high quality performance and key role in supporting the small and medium-sized enterprises SMEs.

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