KFH ‘Safest Islamic Bank in GCC 2018’: Global Finance Magazine

KFH- Group CEO receives three prestigious awards at IMF, WBG meetings

(From right) Ahmad Al-Kharji, Fahad Al-Mukhaizeem, Mazin Al-Nahedh, Ufuk Uyan

KUWAIT: Kuwait Finance House Group (KFH) won three prestigious awards from Global Finance Magazine which are: the Safest Islamic Bank in the GCC -2018 for KFH, the “Best Islamic Bank in Turkey” for KFH-Turkey, and the “Best Islamic Bank” in Europe for KT Bank AG.

KFH- Group CEO Mazin Saad Al-Nahedh received the awards on the sidelines of the 2018 Annual Meetings of the International Monetary Fund and World Bank Group in Bali, Indonesia.

Al-Nahedh said “receiving such prestigious awards from Global Finance Magazine affirms customers’ confidence in the Bank, and reiterates the bank’s leadership position in the Islamic finance industry at a global level, indicating the awards culminate KFH’s achievements and efforts in offering the best Islamic financial services.

He added that KFH achieves sustainable profitability and is characterized by the growth and diversification of its activities and services, supported by the confidence of customers, the regional and global reliability and credibility, not to mention the prestigious and valuable banking brand.

He continued: “KFH attaches great interest in pursuing professional risk management, while paying great attention to service quality, innovation and investing in human capital development. KFH was established as the First Islamic bank in Kuwait, and it is now the pioneer of the Islamic banking sector. KFH succeeded in developing several financial products including Sukuk and Ijara.”

He pointed out that KT Bank AG, the German Islamic Financial Institution offers comprehensive financial products and services based on the principals of sharia. KT Bank AG’s award of “Best Islamic Bank” in Europe for the year 2018 is an impetus for further growth in Germany; the largest and most significant market in Europe.

Moreover, KFH-Turkey continued its efforts in recording new achievements. The Bank offers a wide range of innovative financial products and services, and it diversified its businesses to cope with its ambitious strategy. The Bank has over 400 branches spanning Turkey and 6000 employees. Ufuk UYAN, CEO of KFH-Turkey received KFH-Turkey award.
KFH was selected through an evaluation of long-term credit ratings from Global rating agencies and the total assets of the 1000 largest banks worldwide.

The report issued by the Global Finance Magazine, evaluates the safest banks based on the region. This is in line with the great interest of the Islamic finance industry that is increasingly growing in the world financial markets. The selection of KFH, KFH-Turkey and KT Bank AG from Global Finance was based on a number of professional criteria based on extensive consultation with bankers, analysts and financial experts from around the world. The selection depended on different factors including Banks’ technical innovation in service delivery, product quality, enterprise reputation, customer satisfaction, geographical spread, and strategic relationships.

Global Finance, founded in 1987, has a circulation of 50,050 and readers in 189 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website offers analysis and articles that are the legacy of 31 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world.

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