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Kuwaiti bank named ‘Best Treasury and Cash Management Bank’ for 2022
KUWAIT CITY, Jan 22: For the second year consecutively, Kuwait Finance House (KFH) wins the “Best Treasury and Cash Management Bank” prize for the year 2022, awarded by Global Finance Magazine in its 22nd ceremony of annual rankings awards to the best banks and suppliers of treasury and cash management services. KFH Kuwait General Manager – Treasury, Ahmed Essa Al-Sumait said that KFH winning of the “Best Treasury and Cash Management Bank” award reflects the unique and distinguished rank which KFH enjoys in the field of treasury and cash management services as well the customers trust in the bank’s services and the role which KFH plays as a significant banking partner in providing innovative financial and banking solutions. He indicated that KFH winning of this deserved prize depicts the extensive efforts which KFH exerted to provide highly developed digital platforms in the field of treasury according to best quality standards and KFH success despite the challenges imposed by the pandemic.
Al-Sumait added that the prize refl ects KFH success in developing the latest digital solutions to ensure continuity of the best services in the field of treasury and cash management locally, regionally, and globally. He indicated that these honoring awards and prizes reiterate and affirm KFH pioneering position in the Islamic Banking Service Market. He emphasized that KFH provides a diversified package of capital markets services and products, FX products as well as other innovated financial solutions to fulfil customers aspirations and facilitate their needs. The bank provides FX buy/ sell services,Gold account, currencies selling platform (KFHGlobal), Profit- Rate Swaps (PRS), Al Waad product and “Live FX Pricing” which is an e-platform with live coverage from international markets to fulfil customers’ needs.
Also, it provided highly developed technologies to process and settle deals and accelerate the execution of transactions by using the Straight Through Processing system “STP” and other treasury services and products. He added that KFH has a highly experienced team of young national talents who have sufficient expertise to manage all treasury activities and serve customers using all hi-tech solutions employed by KFH to enhance performance efficiency. Al-Sumait added that KFH endeavors, through treasury sector, to expand its investment and trading activities in the primary and secondary capital markets. He indicated that KFH has occupied the top rank in the IILM Primary Sukuk Program and the top rank in the secondary market in 2021. It is an unprecedented event that a financial institution occupies the top rank dealer for the IILM Sukuk Program in both primary and secondary markets. Ranking Standards The publisher and editorial director of Global Finance Joseph D. Giarraputo said “As the pandemic continues to impact the treasury sector around the globe, smart management of cash and treasury systems is more important than ever,”. He added that Our awards honor the organizations that have best served their clients in an unprecedented and ongoing crisis.”
Global Finance has used, in awarding the prizes highly accurate and professional global standards within a multi-tiered assessment processwhich included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent researchto select the best providers of treasury and cash management services. A variety of subjective and objective criteria were considered, including profitability, market share and reach, customer service, competitive pricing, product innovation and the extent to which treasury and cash management providers have successfully differentiated themselves from their competitors around core service provision. Global Finance, founded in 1987, is headquartered in New York and spread in more than 193 countries worldwide. It has more than 35 years of experience in global financial markets and considered as world reference for the financial sector news as it processes topics related to corporate finance, joint projects, capital markets, currencies, banks, and risk management.