Sunday, May 1, 2011

best Islamic bank in Kuwait, Kuwait Finance House (KFH) wins awards

best Islamic bank in Kuwait, Kuwait Finance House (KFH) wins awards : Kuwait Finance House (KFH), also known as Baitak, won two awards for best Islamic bank in Kuwait and the Gulf Cooperation Council (GCC) states region from the Global Finance Magazine, as part of the magazine's prestigious awards for best Islamic financial institutions in the world in 2011.

A statement by KFH said that the awarded financial institutions contributed greatly in the growth of Islamic finance and succeeded in meeting the demands of its clients for various Islamic products and services. It noted that the selection of the winners of these awards were based on several professional criteria such as growth in assets and profits, geographical expansion, strategic relations, the upgrading of services and technical innovation. These assessments were made by financial analysts from around the globe.

The statement quoted that KFH's Chief Executive Officer (CEO) Mohammed Al-Omar as saying that "receiving such prestigious awards from the Global Finance Magazine highlights the KFH's initiatives to offer its clients the best level of services possible. "These awards stand as a testimony for the success of KFH international expansion efforts, especially in the Gulf region, where the bank gained great successes in the Bahrain, United Arabs Emirates (UAE) and Saudi Arabia financial institutions and banks," he remarked. Al-Omar went on saying, "KFH continued to play its role in the financing sector during the financial crisis, when other financial institutions were hesitant to follow KFH's footsteps in that field." This courageous move during the financial crisis stemmed out of KFH's duty to assist the national economy through supporting Kuwaiti companies, he pointed out.

Furthermore, Al-Omar noted that KFH is willing to finance major development plan projects since concerned authorities rely on Kuwaiti banks to accept such responsibilities, while the banks seize such opportunities employ its liquidity into fruitful investments. He concluded that KFH is highly experienced since it finances major development projects in the fields of infrastructures, oil, gas, airports, communications and other vital sectors.
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