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KUWAIT CITY, May 28: Kuwait Finance House Group (KFH Group) won 8 prestigious awards from Islamic Finance News (IFN) thus representing the largest number of awards received by a banking group from a single entity. The award “Best Islamic Bank in Kuwait 2021” took the lead among the 8 awards. They included also best 3 “Deals of The Year” awards organized by the group in Kuwait, Saudi Arabia, and Turkey. There were other newly created awards that recognize the innovative quality of the finance and investment products provided by KFH Group, e.g., Social Impact Deal of the Year, Sovereign and Multilateral Deal of the year.
The awards, announced recently in a ceremony held in Dubai, comprised the following: Best Islamic Bank in Kuwait, Kuwait Deal of The Year – Kuwait Finance House’s US$750 million Tier 1 Sukuk, Social Impact Deal of the Year – IsDB’s US$2.5 billion sustainable Sukuk, Sovereign and Multilateral Deal of the year – UK Government’s GBP 500 million sovereign Sukuk, Turkey Deal of the Year- Kuveyt Turk Katilim Bankasi’s US$350 million Tier 2 sustainability Sukuk, Hybrid Deal of the Year – Saudi Aramco’s US$6 billion hybrid Sukuk, Overall Deal of the Year – Saudi Aramco’s US$6 billion hybrid Sukuk, Saudi Arabia Deal of the Year – Saudi Aramco’s US$ 6 billion hybrid Sukuk.
Islamic Finance News Group (IFN) has selected KFH for these awards based on the recommendations of a jury of global experts and analysts specialized in the Islamic finance. The evaluation was made in accordance with a set of financial calibers, standards and indicators on the best institutional activities and Islamic deals during the year. The awards have affirmed KFH leading position, innovative finance solutions, diversified contributions, and continued efforts to enhance Islamic finance sector worldwide by providing innovative products and services to accommodate retail and corporate customers and fulfil governments aspirations, taking into consideration environment preservation, sustainability, governance, development programs and society development.
KFH representatives at the awards ceremony included: General Manager Treasury Kuwait at KFH, Ahmad Al-Sumait, Executive Manager – Capital Markets at KFH, Khalid AlRukhayes, Vice President Investment Banking services at KFH Capital – Khalid AlShami. Ahmad Al-Sumait: General Manager Treasury Kuwait at KFH, Ahmad Al- Sumait indicated in a press release after receiving the awards that these awards reflect the bank’s leading and pioneering position in the Islamic finance and Sharia-compliant banking industry as well as KFH competencies in innovating finance and banking solutions and tools in the global markets where the Group operates. He added that the awards stand as a motive for further accomplishments and success to match the praise and appreciation which KFH has gained from various global organizations. He said that KFH has firmly established leading position in the Islamic banking industry.
KFH provides a fully integrated system of technology, finance, and banking services to enhance the development sustainability pillars of Islamic finance industry by financing several projects and participating in many economic, growth deals and mega projects having a positive impact on the societies where they operate. These economic and financial projects enhance KFH participation in driving economy wheels as well as the development and growth plans in such societies. Also, these deals accelerate KFH growth and expansion in various markets and qualify KFH to lead, arrange and participate in the biggest financial deals worldwide. KFH has participated in the biggest and most successful three deals in Kuwait, Saudi Arabia, and Turkey last year. Al-Sumait reiterated that KFH will keep working as per set plans in all markets and countries where it operates through professional and methodical performance, diversification, and the ability to compete with the largest banks worldwide.
KFH is supported by the most remarkable indicators of success and distinction at all levels which render KFH as the best Islamic bank in Kuwait and worldwide and the source for Islamic banking. Khalid Al-Rukhayes Executive Manager – Capital Markets at KFH, Khalid AlRukhayes expressed his delight at winning the awards and considered them an earned appreciation of KFH accomplishments in several mega Sukuk deals for governmental institutions. He added that KFH will continue its endeavor to maintain its leading position in the Islamic finance industry worldwide and will continue presenting innovative financial solutions that would fulfil customer’s aspirations. Khalid AlShami Vice President Investment Banking at KFH Capital, the investment arm of KFH Group, Khalid AlShami said that KFH Group`s participations in the arrangement and management of major Sukuk issuances, value and returns-wise and most distinguished environment and sustainability- wise, have strengthened KFH role in the Sukuk market as a main dealer and a market maker at the regional and global levels.
KFH enjoys a strong financial position, reputable rank, and long experience in the field of Sukuk which have become the most favorable option for companies and governments to finance their projects, development plans, expansion, and execution of development plans. He indicated that KFH success in the development of certain Sukuk structuring and enhancing its competency against traditional debt instruments, thus increasing demand thereon and merging them in several major projects and deals of government institutions and private sector. Sovereign Sukuk have become one of the major instruments of the main global finance market. He reiterated that its distinguished long experience in the arrangement and issuance of Sukuk deals over the preceding decades has rendered KFH as one of the most important sources of Sukuk at the global level. KFH has become one of the main competitors among the banks organizing premier Sukuk issuance on Bloomberg Global Platform. IFN provides Islamic finance and banking industry awards and publishes articles about the banking sector. Established in 2004, IFN is a subsidiary of REDmoney and has offices in Dubai and Kuala Lumpur.