KUWAIT CITY, Oct 9: Global Finance Magazine has awarded Kuwait Finance House (KFH) the “Best Islamic Financial Institution in GCC 2016”, “Best Islamic Project Finance Provider 2016” awards, and “Best Islamic Financial Institution in Turkey 2016” for KFH-Turkey as part of the prestigious Magazine’s awards for the World’s Best Islamic Financial Institutions in 2016.
KFH has been honored at an awards ceremony conducted during the IMF/World Bank Annual Meetings in Washington, DC, USA.
The magazine stated in its report that the awarded financial institutions contributed to the growth of Islamic financing and successfully met their customers’ needs for Shariah-compliant products, while creating the foundation for continued growth and safety in the future, with modern and efficient delivery channels.
All selections were made by the highly professional team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. The stringent criteria of giving the award included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Also, among the criteria considered were reputation, customer satisfaction, and the opinions of analysts and others involved in the industry.
Meanwhile, KFH-Group CEO Mazin Saad Al-Nahedh said in a press statement on the sideline of the award ceremony held in the USA, Washington during the IMF/World Bank Annual Meetings, that receiving such prestigious awards from Global Finance Magazine affirms customers’ confidence in the bank, and reiterates its leadership in the Islamic Finance industry at a global level, indicating the 3 awards culminate KFH’s achievements and efforts in offering clients the best banking and financial services in the countries where it operates, saying “wherever we operate, we are and remain committed to be the Best”.
Moreover, he remarked that KFH is assuming significant national role in the participation in financing major development projects, not to mention its contribution in bridging the country’s budget deficit by issuing Tawarruq. KFH is highly experienced, since it has financed major developmental projects in the field of infrastructure in the region, such as the oil, gas, mega construction projects, and other sectors.
With regards to KFH-Turkey, Al-Nahedh boasted that it is an asset for the Turkish economy, noting that the reason behind the Bank’s success is its customer oriented and ethical based approach. KFH-Turkey sets long-term relations with its customers by putting high-level service quality in the center.
“In addition to its value-driven banking approach, KFH-Turkey provides a wide range of innovative and tailor-made products in all segments in order to best meet the developing needs of its diverse client base. The bank makes extensive use of the latest technology to offer innovative products and service. KFH-Turkey, as one of the major players in the national finance industry, has always supported the actors of the real economy” added A-Nahedh.
It is worth noting that a high-level delegation of KFH is currently participating in the IMF/World Bank meeting, including Group CEO, Mazin Al-Nahedh, Group Chief Strategy Officer Fahad Al-Mukhaizeem, Group Chief Treasury Officer Abdulwahhab Alroshood, Group Chief Wholesale Banking Officer, Ahmed Alkharji, CEO- KFH-Turkey Ufuk Uyan and CEO- KFH Capital Abdulaziz Almarzouq.