KFH Group Wins 7 Prestigious Awards from IFN
KUWAIT CITY, Feb 18: Kuwait Finance House (KFH) Group has received 7 awards from the globally renowned Islamic Finance News (IFN) magazine.
KFH was named Best Islamic Bank in Kuwait, Best Islamic Corporate Bank in Kuwait, Best Islamic Retail Bank in Kuwait, Most Innovative Islamic Bank in Kuwait and Best Islamic Investment Bank in Kuwait.
Additionally, KFH Group secured the IFN Bahrain Deal of the Year 2024 for arranging an ESG-compliant financing facility worth $450 million. Meanwhile, KFH-UK won the Best New Islamic Bank award.
These accolades highlight KFH's leadership and contributions to the Islamic banking industry, showcasing its innovation, financial solutions, and investment products that enhance the Sharia-compliant financial services sector in Kuwait and the world. KFH Group continuously introduces investment opportunities with the best returns and distinctive advantages, including savings instruments, investment products, and financial services through KFH Capital, its dedicated investment subsidiary.
Tareq Al-Ajeel
During the IFN awards ceremony held in Dubai, KFH Deputy General Manager Digital Transformation and Innovation, Engineer Tareq Al-Ajeel received the Most Innovative Islamic Bank in Kuwait award during. He stated that this recognition underscores the Bank's commitment to technological innovation through advanced digital banking services offered to its customers. He noted that the digital transformation of banking services represents a significant milestone in KFH's journey, as it enables the Bank to uniquely provide high-quality innovative services backed by a state-of-the-art digital infrastructure that aligns with customer expectations and global fintech advancements, as well as regulatory controls.
Al-Ajeel added that the award also highlights the quality of KFH's technical services and the effectiveness of its digital transformation strategy. 'Recently, we launched innovative services for the first time in Kuwait, including Facial Biometric Features during branch visits.' he remarked, 'We have also rolled out the instant card printing machines that operate within minutes. KFH also introduced smart branches, and XTM devices, along with various other services. Our continuous efforts are directed towards enhancing innovation and investing in technology to deliver optimal banking solutions, thereby improving the banking experience for our customers and making it more convenient, through fast and secure branchless process.'
He reiterated KFH's continuous success in accelerating the digital transformation and innovation strategy through the adoption of cutting-edge fintech solutions, alongside an innovative approach that empowers employees and strengthens KFH's business and products development and its ability to meet diverse customer needs across all sectors.
Abdulaziz Alghanem
KFH Executive Manager Retail Support, Abdulaziz Alghanem, commented on receiving the Best Islamic Retail Bank in Kuwait award: 'We have delivered a seamless and distinguished banking experience, providing customers with the right financial tools, products, and solutions to meet their financial needs. Additionally, we have introduced numerous innovative products and services that have solidified the standing of the Islamic finance industry. This has allowed KFH to attract diverse segments with a broader customer base granting the Bank a leading position in the local market.'
He added: 'We are focused on capitalizing on the increasing demand for Islamic financial services and products in Kuwait by introducing new banking and financing services that will enhance our market share, build trust, and expand opportunities for success across various sectors and face the competition. Our Retail Banking offer cutting-edge technology, inclusivity, and accessibility, catering to all age groups and customer segments with high-quality, fast, and digital solutions that enable seamless banking anywhere, anytime.'
Saleh Al-shaya
KFH Senior Relationship Manager Corporate Banking, Saleh Al-Shaya, received the Best Islamic Corporate Bank in Kuwait award. He said that KFH enjoys a unique advantage as the leading corporate financier in Kuwait with a substantial client base characterized by a spirit of partnership and knowledge exchange. 'KFH has notably succeeded in financing major development projects while also funding small and medium-sized enterprises, which KFH considers crucial for expanding production, boosting the national economy, and creating employment opportunities.' Commented Al-Shaya. KFH is recognized as a leader in financing this important sector, with its portfolio for small project financing being the largest in the Kuwaiti market.
IFN awards are granted based on several criteria including diverse capabilities, brand quality, integrated performance, and coordination within the KFH Group. It also assesses the Group's contribution to the Islamic banking industry, focusing on merit and reliability. The awards are determined through surveys and questionnaires from Islamic and conventional financial institutions, investors, and financial professionals worldwide.
The diverse range of awards won by KFH Group reflects its strategic vision, structured operations and growth, reinforcing its ability for expansion and product innovation in Kuwait and the markets where it operates. KFH's expansion into the UK banking market through KFH-UK was a key milestone, culminating in the bank being awarded the Best New Islamic Bank in the UK after its recent conversion to an Islamic bank. This follows KFH's successful acquisition of Ahli United Bank – Bahrain.
It is t is worth noting that the Islamic Finance News (IFN) group recognized KFH for these awards based on recommendations from specialized committees composed of experts and analysts in Islamic banking worldwide. The evaluation was conducted according to a set of criteria and financial indicators assessing the best Islamic institutions and transactions for the year 2024.
The IFN group manages the Islamic Finance and Banking Awards. It also publishes the world's leading Islamic banking news through its magazine, established in 2004. The magazine is affiliated with Redmoney, which has offices in Dubai and Kuala Lumpur.
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