KFH participates in Kuwait Investment Outreach in London

This news has been read 540 times!

Kuwait, March 6, 2024: Kuwait Finance House (KFH) participated in the Kuwait Investment Outreach event held in London to shed light on the finance and investment opportunities that are shaping ties between Kuwait and the UK while discussing the importance of technological advancement, and digital innovation in the banking industry.

In his keynote speech during the event, Acting Group CEO of KFH, Abdulwahab lesa AlRushood said “The Kuwait Investment Outreach, celebrating 125 years of bilateral relations between Kuwait and the UK, presents a pivotal moment to enhance our long-standing trade and investment ties. With (KFH) standing as the largest Islamic bank, its participation can significantly amplify the scope of investment opportunities, steering the bilateral relationships towards new heights of cooperation and mutual benefit. KFH’s commitment to innovation and digital transformation in Islamic finance aligns perfectly with the event’s focus on emerging sectors like cybersecurity and AI.”

AlRushood added that by leveraging its expertise and resources, KFH can play a crucial role in fostering discussions on tech-driven economic strategies, potentially leading to ground-breaking partnerships.

He pointed out that the involvement of ministers, ambassadors and leaders from both nations underscores the event’s importance and the potential for substantial discussions on diversifying the economy, enhancing digital infrastructure, refining investment strategies, and expanding trade.

“The involvement of KFH in this significant event not only honors the longstanding relationship between Kuwait and the United Kingdom but also establishes the groundwork for a shared future of success and prosperity”, AlRushood said.

He added that the bank’s participation could set a new model for international collaboration in the financial industry, especially that KFH, after the acquisition of Ahli United Bank- Bahrain, operates in 12 markets across the world of which the UK is one of them.

He indicated KFH’s new expansion in the UK is highly significant for KFH’s global reach, and access to a wider range of international markets, investors, and business opportunities. KFH Group’s presence in London can contribute to the development of the Islamic finance industry by offering its expertise and experience to a wider audience.

AlRushood explained that KFH is a key contributor to the economy of the countries it operates in as it is the largest bank in Kuwait by consolidated assets and the second-largest Islamic bank in the world. Total assets reached over KD 38 billion for the year 2023.

He said that KFH ranked first among all listed companies in Boursa Kuwait in terms of market capitalization, which is over KD 12 billion. KFH came first among Kuwaiti banks in terms of profits made, where it reported a record net profit of KD 584.5 million for the year ended 2023. KFH made its highest-ever profit in history, and the biggest in the Kuwaiti banking sector.

“Lastly, I’m sure that KFH’s contributions could offer insightful perspectives on these discussions, drawing from its vast experience and successful track record in the financial sector. I hope this event comes out with several initiatives and fruitful results that help in further enhancing bilateral investments and pushing both Kuwait and the UK forward in the global economy,” AlRushood concluded.

This news has been read 540 times!