
KFH Participates in the Ya Hala Festival`s Second Draw
The second draw announced the winners of the luxury cars and cash prizes. KFH also revealed the winners of the Al-Rabeh and Al-Hassad draws. In addition to the main prizes, KFH awarded gold bars and reward points to customers enrolled in its KFH Rewards program. This initiative reflects the bank`s continued leadership in supporting social initiatives that positively impact the community and contribute to the country`s development plans.
KFH is a strategic partner of the inaugural Ya Hala Shopping Festival, demonstrating its commitment to supporting the event. The festival aims to boost key retail sectors, stimulate the economy, and invigorate trade and sales, while also coinciding with Kuwait's national celebrations.
Ya Hala Shopping Festival is a national initiative encompassing economic, commercial, cultural, and entertainment activities, contributing to stimulating the economy. Held from January 21 to March 31, the festival offers 70-day promotional campaigns featuring discounts and special offers from participating companies and retailers. The festival also includes exciting raffles with prizes exceeding $8 million, including both cash and in-kind rewards.
KFH remains committed to actively participating in such festivals and diverse events, serving various segments of society while fostering collaboration between the public and private sectors. Through these initiatives, KFH aims to strengthen relationships with key institutions across the country and contribute to the stimulating Kuwait's economy.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arab Times
an hour ago
- Arab Times
Rents drain KD450m from Kuwait budget
KUWAIT CITY, Aug 9: Housing activists, who met with Minister of State for Municipal and Housing Affairs Abdul Latif Al-Mishari on Thursday, described the meeting as 'frank and transparent'. Sources revealed that during the meeting, which lasted for more than two hours, the housing activists discussed the biggest challenges the housing sector is currently facing; as well as ways to develop policies and mechanisms related to housing care, land allocation and real estate development projects. Meanwhile Al- Mishari pointed out at the meeting that 'scarcity remains one of the biggest obstacles to solving the housing problem.' He said the number of farms in the country has increased fivefold since the beginning of the millennium and has become a burden on the land portfolio, especially since many of them have been transformed into resorts and concrete buildings rented for recreational purposes without any real agricultural return. He stated that the country is on the cusp of a major housing boom aimed at completing 170,000 housing units over the next 10 years in new cities; such as Al-Sabriya, Al-Khiran and Nawaf Al- Ahmad. In the same context, housing activist Mohammad Al-Nasafi disclosed in a press statement after the meeting that the value of tenders supervised by the Housing Ministry is estimated at KD2.75 billion; exceeding what the Ministry of Public Works oversees -- a reflection of the magnitude of the challenge and the responsibility it bears. Al-Nasafi expects Chinese companies to play a vital role in building major residential cities in the coming period, as part of accelerating the pace of construction and easing pressure on waiting lists. He added that rental allowances drain around KD 450 million annually from the State budget, while suggesting the construction of multi-story residential buildings as one of the solutions. He explained that the strategy aims to stop this waste and achieve faster stability for eligible citizens.


Arab Times
an hour ago
- Arab Times
Your Highness the Prime Minister ... When will Kuwait change?
Before the new era's measures, which halted squandering, tampering with all aspects of the State, and chaos in government positions, the State wasted many opportunities and even made it appear to be experiencing premature aging and deficits in several sectors. Without a doubt, the tampering has affected the sovereign wealth and all arms of Kuwaiti financial power. It has affected the backbone of the State. Therefore, after the measures taken in the new era, attention should be given to the Future Generations Fund, social security, oil revenues, and commercial and industrial activities, which, along with other aspects, constitute the gross domestic product (GDP), in addition to openness. Your Highness, the Prime Minister, as a financial and economic expert, we speak frankly to you. 'It is now time to consider strengthening the financial industry of Kuwait and to maximize its soft power.' When the Future Generations Fund was established, it was partly for the future and long-term investment, as HH the late Sheikh Jaber Al-Ahmad (may Allah have mercy on him) had envisioned. Before that, Kuwait was the first in the world to establish an investment fund in 1953. This has accumulated over the past decades. Ironically, Norway, which established a pension fund in 1990, is far ahead of Kuwait despite the recent introduction. Why? Without a doubt, the shortsightedness that citizens are 'specialized' in is the reason. China, with its wealth of great minds, did not accept this. In 1978, it hired the British expert of Iraqi origin – Elias Korkis – who made a strategy that turned China into the second-largest economy in the world today. Similarly, Singapore transformed itself from a poor country rife with corruption into the largest productive economy in Asia and an internationally renowned financial center. Your Highness, the world is changing, and many countries, including those in the region, have far outpaced Kuwait because they tapped local and foreign talents and utilized their sovereign wealth in various productive sectors, both domestically and internationally. At home, they invested in vacant land, built service facilities, and even entertainment cities that helped boost the GDP. Today, the Social Security Fund serves around 150,000 pensioners. In the future, it will serve thousands more. It suffers from an actuarial deficit, which is easy to address. It has liquidity that can be invested locally; which is much better than losing that money, as it happened in Lebanon. Undoubtedly, oil revenues have an investment function as well – to help develop industrial facilities, not only domestically in the oil industry, but also in many other fields. This requires experts who do not necessarily wear the 'ghutra' and 'egal', but rather come from abroad and have succeeded in other countries. Today, there is no longer pressure on the government – whether from members of Parliament or influential figures. It has become imperative to begin the process of recovery, with development based on a vision to enhance the GDP on one hand, and achieve economic stability on the other hand. This can be done by leveraging Kuwait's soft power tools in the region and the world, building a sound financial system, and preventing the future exploitation of sovereign wealth for reckless adventures. Your Highness the Prime Minister, the path of finance and the economy in America is managed by experts who are not necessarily from the country itself. They are honored and they receive their dues. In Kuwait, there are oil reserves, sovereign wealth, social security, and the Ministry of Finance; that is, if it has people who know how to maneuver and profit. Your Highness, the Prime Minister, all other countries in the world employ the best minds of other nationalities to serve their economies and enhance their GDP. Therefore, applying the popular proverb, 'All roads lead to Rome,' has become a necessity. What matters is the decision. This is the time to say that our country, Kuwait, has really changed.


Arab Times
3 hours ago
- Arab Times
No pay hike for Filipino domestic workers
KUWAIT CITY, Aug 9: Head of the Union of Domestic Labor Offices Khaled Al-Dakhnan confirmed that the biggest problem currently facing recruitment agencies is the lack of applications, due to the pricing set by the Ministry of Commerce and Industry, which leaves agencies with little flexibility to secure experienced candidates, and negatively impacts the overall quality of available labor. Al-Dakhnan said, 'We are not receiving good applications, as the ministry's set pricing only allows for older workers, many of whom prefer to go to other Gulf countries that offer better incentives.' He explained that the recruitment cost from some African countries reaches KD 575, in line with the pricing set by the Ministry of Commerce and Industry, which is an acceptable amount. However, the market still primarily depends on Asian workers. Regarding Filipino workers, he said, 'The reopening of recruitment was temporary and limited only to those who had previously worked in Kuwait, not new workers. It has now been a year and a half since that partial reopening. The Ministry of Foreign Affairs and the Public Authority for Manpower were expected to step in and officially open recruitment for workers who have never worked in Kuwait.' Talking about the issue of increasing the salaries of Filipino workers, Al-Dakhnan said, 'It is not currently under discussion and is being considered solely by the Philippine side. If the salary is raised, the change would apply in all countries. It is an internal Philippine matter, and we do not expect it to be implemented anytime soon.' On the impact of Ethiopian workers on the local market, he said, 'There is high demand for this nationality, with requests in the thousands. However, the African labor market is generally weaker than the East Asian market, and Kuwait continues to rely more on Asian countries, as they have proven their worth more than their African counterparts.' Al-Dakhnan also revealed that a union delegation is scheduled to visit Indonesia in early September, noting that, 'existing efforts will not succeed without direct government involvement, as the Indonesian side has requested the establishment of a direct line of cooperation between the Public Authority for Manpower and the Ministry of Foreign Affairs. The reception during previous visits to Indonesia was positive, and officials there expressed a clear willingness to send workers. However, they clarified that the decision to open recruitment is not solely in their hands, especially given that many of their workers are already employed in Saudi Arabia, Oman, and East Asian countries, where they are in high demand and regarded as among the best in the world.' He emphasized that Kuwait's labor market has shifted with the entry of Ethiopian workers, resulting in an increased supply. However, Kuwaiti citizens still primarily rely on Filipino and Sri Lankan workers, followed by workers from various African countries. Al-Dakhnan indicated that one of the current demands from the Indonesian side is to refer to their workers as 'cleaning workers' rather than 'domestic workers.' Regarding the recruitment of domestic workers from Myanmar, he stated that the union had submitted an official letter to the Myanmar Embassy and held a meeting with the ambassador, adding, 'Recruitment from Myanmar cannot proceed without the intervention of the Public Authority for Manpower and the Ministry of Foreign Affairs to establish a new line of cooperation with the country.'