KFH named “World’s Best Islamic Financial Institution 2021” – ARAB TIMES


KUWAIT CITY, November 2: Kuwait Finance House (KFH) has won the World’s Best Islamic Financial Institution 2021 award from Global Finance magazine as part of its 14 annual World’s Best Islamic Financial Institutions Awards for this year.

AbdulWahab Al-Rushood, Interim CEO of KFH Group receiving awards at ceremony in Dubai

In addition to this award, KFH also received 4 prestigious awards which are: Best Islamic Project Finance Provider in the World, Best Islamic Financial Institution in the World 2021 in Turkey for KFH- Turkey, Best Islamic Financial Institution in the World in Europe for KT Bank AG- Germany and best Islamic takaful in the world for KFH Takaful. Interim Group Managing Director KFH-AbdulWahab Al-Rushood received the awards at the 2021 Global Finance Awards dinner held in Dubai.

On the sidelines of the award ceremony, Al-Rushood said that the award for the best Islamic financial institution in the world confirms the success of KFH’s efforts to provide the highest standards of Islamic financial services, while contributing to the development of the sector. banking. This is in line with the methodological and Shariah support that KFH is keen to provide to disseminate the Islamic finance industry. He added that the awards received by KFH were well deserved considering the bank’s contribution to the growth of the Islamic finance industry in the markets in which it operates, its success in meeting customer needs for products that comply with Sharia law and establish sustainable future growth. with high efficiency for the Islamic finance industry and keep abreast of the latest financial and banking technologies.

Al-Rushood pointed out that KFH is moving forward in its digital transformation strategy, adopting state-of-the-art “FinTech” financial services and applying AI and robotic technology in banking transactions. KFH has successfully offered several digital services on the KFHonline mobile app and on various alternative channels including KFH Go smart branches in several regions of Kuwait. This helps improve the digital customer experience and lead digital development in the banking industry. Al-Rushood reported that the award for the best Islamic project finance provider in the world confirms KFH’s extensive experience in the Islamic finance industry, issuing sukuk for many banks, companies and governments, and the organization of ‘important financing agreements for large infrastructure development projects, including vital sectors. as helping to stimulate economic growth and to develop many financial products and alternative financing options, which are currently used in international markets. He went on to say that the awards from Group subsidiaries reaffirm the capacity and efficiency of Group subsidiaries, while reflecting their harmony and consistency in performance.

Al-Rushood said that KFH has been successful in strengthening its roles and expanding its business locally and globally, represented by the Kuwaiti market and group.s markets. Being the first Islamic bank in Kuwait, KFH achieved many successes in several areas, including building solid economic basics depending on developing human resources, and offering products and services that meet the markets requirements. All award selections were made by the highly professional team at Global Finance, after extensive consultation with bankers, corporate finance executives and analysts from around the world.

Strict award criteria included new business development and product innovation, meeting all customer requirements, geographic reach and strategic relationships. Among the criteria taken into account were also reputation, respect for ethical standards and customer satisfaction. It should be noted that Global Finance magazine is headquartered in New York and was founded in 1987. It has readers in over 190 countries and 34 years of experience in international financial markets. The magazine is an international benchmark in the financial industry, covering topics such as corporate finance, joint ventures, capital markets, currencies, banking and risk management.

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