First bank to sign agreements with UN organizations in GCC
KUWAIT: Kuwait Finance House (KFH) Group CEO Mazen Saad Al-Nahedh said that KFH is expanding its social role to include GCC, Arab and Global zones, adopting various projects and activities to serve all nations and uphold humanity, thus highlighting the cultural aspect of Kuwait and the human role which His Highness the Amir Sheikh Sabah Al-Ahmad Al- Jaber Al-Sabah has played to strengthen and enhance all means of cooperation and understanding among all nations and civilizations. KFH applies sharia principles to address society issues and achieve prosperity and growth for humanity. He indicated that KFH has donated $540,000 to aid the distressed Rohingya Muslims through the United Nations High Commission for Refugees (UNHCR).
Nahedh made his statements in a press release during the signing ceremony of a memorandum of understanding with UNHCR. This memorandum is the first of its kind at all Kuwait banks’ level to be signed at the UN house. KFH has commenced a documented cooperation with the commission through its office in Kuwait to aid Rohingya refugees in Bangladesh and relieve their sufferings and the fierce circumstances they are living.
Nahedh reiterated that KFH honorable goals is to work in the best interest of humanity regardless of religion, race, ethnicity or gender, whether on the economic level by presenting sharia compliant financial solutions or through social role through official channels at local and regional levels. He emphasized that KFH has managed to participate in global efforts of humanitarian foundations to encounter several crises and disasters in various countries whether through KFH Kuwait or KFH group branches in Turkey, Malaysia, Bahrain and Germany.
Nahedh reiterated that KFH is currently undergoing a full transformation process, while maintaining the bank’s legacy and reputation as the most trusted Islamic bank. To achieve this vision, the bank focuses on distinction, innovation and social responsibility. He expressed his confidence that KFH contributions in social and human issues are considered as a bright and honorable aspect in its 40 years history.
The head of the UNHCR in Kuwait Dr Hanan Hamdan said that this agreement is the first partnership between UNHCR Kuwait and the largest Islamic bank in Kuwait. This agreement is considered as an extension of KFH role and efforts as a reputable entity for aiding the needy. KFH has taken the initiative to aid refugees and the needy worldwide. This generous contribution to aid refugees worldwide namely the immediate donation and contribution to aid the Rohingya refugees is highly appreciated and recognized. This initiative reflects the extent of cooperation between the UNHCR and the private sector leaders in Kuwait namely KFH.
She indicated that this cooperation is a continuation of Kuwait’s humanitarian efforts led by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and matches the UNHCR goals. Kuwait has always been the leading country in humanitarian issues for all poor countries. Kuwait was granted in 2014 a global title for its humanitarian contributions and efforts as HH the Amir Sheikh Sabah Al-Ahmed Al-Jaber Al- Sabah was named and titled as the Leader of Humanity by UN. Also, Kuwait was listed among the top 10 donating countries for the UNHC operations and projects during the period 2013 – 2015.
She added that the UNHCR in Kuwait is expecting that KFH generous initiative towards the Rohingya refugees would pave the way for better cooperation and a long term partnership to provide sustainable aid, mitigate the suffering of all refugees and shed more light on the refugees crises. KFH contribution would help 3,794 families of the Rohingya refugees in Bangladesh.
Dr Hamdan expressed her hope that this agreement would be the cornerstone for a sustainable and long term partnership with KFH to ensure a better future for all refugees worldwide namely the Rohingya refugees’ families who depend on the UNHCR and its partners from the private sector to provide them with an honorable life. “We hope that all other entities would follow KFH track and participate in the honorable humanitarian work,” she said.
The agreement comprises cooperation and coordination between the two parties in regard to KFH’s wish to provide all possible means of care to refugees under UN supervision. KFH has donated $540,000 to the UNHCR to respond urgently to the needs of the Rohingya refugees in Bangladesh.
The UNHCR has sought, since its inception in 1950, to condense its international efforts to protect all refugees around the world, solve their problems and ensure their safety. Accordingly, the UNHCR is stationed in more than 130 countries worldwide with 11,000 employees while 90 percent of them working in the disastrous and conflict areas. Accordingly, the UNHCR has gained the trust of international community and this has enabled it to aid and help more than 50 million refugees to rebuild their lives. Also it is the only UN organization which was awarded the Noble prize twice.
The state of Kuwait has presided, in cooperation and coordination with the UNHCR, European Union and other UN organizations, the International Humanitarian Pledging Conference in Geneva on 23rd October which was specially organized to address the immediate humanitarian response plan to the needs of the Rohingya Refugees Minority in Bangladesh. Kuwait announced the donation of $15 million in which several official and private entities have participated as part of Kuwait’s humanitarian efforts to mitigate the impact of the catastrophe and respond to the international efforts aiming to relieve the suffering of the Rohingya Refugees.
As conflicts and disasters have increased, the latest records indicate that the numbers of refugees have increased. The number of refugees reached 65.6 million. The Syrian crises is considered currently one of the major crises where the number of refugees reached 5.3 million in addition to 6.3 million internal refugees. The situation does not differ much in Yemen where nearly one million refugees have migrated internally. The latest Rohingya crises was the last. It was described as the fastest growing humanitarian crises worldwide. The number of Rohingya refugees in Bangladesh approximated 900,000 refugees including 626,000 refugees which have fled to Bangladesh before the outbreak of the violence this year.