May 20, 2021 islamic finance
KFH wins World’s Best Islamic Financial Institution ’21 award
Global Finance Magazine has awarded Kuwait Finance House (KFH) World’s Best Islamic Financial Institution 2021 Award in its 14the annual awards for the World’s Best Islamic Financial Institutions for this year. In addition to this award, KFH has also received 4 prestigious awards which are: World’s Best Islamic Project Finance Provider, World’s Best Islamic Financial Institution 2021 in Turkey for KFH- Turkey, World’s Best Islamic Financial Institution in Europe for KT Bank AG-Germany, and World’s Best Islamic Takaful for KFH Takaful. All selections were made by the highly professional team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. The stringent criteria of giving the awards included new business development and product innovation, meeting all customer’s requirements, geographic reach and strategic relationships.
Also, among the criteria considered were reputation, the adherence to ethical standards and customer satisfaction. World’s Best Islamic Financial Institution Award confirms the success of KFH’s efforts in providing the highest standards of Islamic financial services, while contributing to the development of the banking industry. This is in line with the methodological and Shariah support that KFH is keen to provide to spread the Islamic finance industry. The awards KFH received were well-deserved in view of the bank’s contribution to the growth of the Islamic finance industry in the markets it operated in, its success in meeting the customers’ needs of Sharia-compliant products and establishing sustainable future growth with high efficiency for the Islamic finance industry and keeping up with the latest financial and banking technology.
The excellence of KFH Group is reflected in its keeping pace with the development of digital banking services, adoption of technology, commitment to the highest levels of professionalism. KFH is moving forward in its digital transformation strategy, adopting the state-of-the-art technological financial services “FinTech” and applying AI and robotic technology in banking transactions. KFH succeeded in offering several digital services on the mobile app KFHonline and on various alternative channels including KFH Go smart branches in several areas of Kuwait. This helps enhance the customer’s digital experience and lead digital development in the banking industry.
Worlds Best Islamic Project Finance Provider award confirms the wide experience of KFH in Islamic finance industry, Sukuk issuance for many banks, corporates and governments and arranging major financing deals for mega infrastructure development projects including vital sectors as well as contributing to driving economic growth and developing many financial products and alternative funding options, which are currently used in international markets. The awards indicate the capability and efficiency of the Group subsidiaries, while reflecting their consistent performance based on specific rules, clear systems and sound foundations. This reflects the successful efforts in coordination and cooperation among the Group subsidiaries. KFH succeeded in strengthening its roles and expanding its activities locally and globally, represented by Kuwaiti market and Groups 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 market’s requirements. It is worth noting that Global Finance magazine is headquartered in New York and founded in 1987. It has readers in more than 190 countries and 34 years of experience in international financial markets. The magazine is an international reference in the financial sector, covering topics of corporate finance, joint ventures, capital markets, currencies, banks and risk management.
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