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KUWAIT CITY, Oct 15 – Kuwait Finance House (KFH) won Global Finance Group’s “World’s Best Islamic Financial Institution 2022” award at the awards ceremony held during the 2022 annual meetings of the International Monetary Fund (IMF). ) and the World Bank Group (WBG) in Washington, DC, USA. Global Finance also awarded KFH with the “Best Islamic Financial Institution in the Middle East” award and the “World’s Best Islamic Takaful” award for KFH Takaful . In its 31st annual ranking of the world’s safest banks, Global Finance magazine also named KFH the safest Islamic bank in Kuwait.
The awards were given in recognition of KFH’s contributions to the growth of Islamic finance, meeting customer needs for innovative Sharia-compliant products through advanced and highly effective service channels, leading digital transformation, and distinguishing itself through achieve sustainability and continued growth. On this occasion, the interim CEO of KFH Group, Abdulwahab Iesa Al-Rushood, expressed his pride in winning these awards from the renowned Global Finance magazine.
He said that these awards represent global recognition of KFH’s leading position in the Islamic finance industry and highlight KFH’s efficient operational and financial performance in providing highly advanced innovative services while advancing digital transformation strategy and continuing its proactive focus on adopting technology and innovation and focusing on improving the customer experience. He noted that KFH has a history in Islamic banking and enjoys a long history of innovations in banking and financial products and services.
He added that the various financial products and alternatives developed by KFH are currently used in international markets and meet the aspirations of all customer segments (retail and corporate). Al Rushod said that KFH is focused on supporting financial inclusion (a pillar of the sustainable development goals) as part of its development function and its leadership in the Islamic finance industry. He added that, as the first Islamic bank established in the State of Kuwait, KFH enjoys a dominant local market share and wide geographical spread in various regions of the world through around 530 branches and 1,750 ATMs, as well as more of 13 thousand employees. . Award Criteria Global Finance bases its rating of Islamic financial institutions on extensive consultations with bankers, analysts and specialized financial experts from around the world.
Performance ratings are made based on certain professional criteria and methodologies, including asset growth, profitability, geographic reach, strategic relationships, business development, product innovation, ability to meet customer needs in various sectors, the use of technology to provide qualitative products and services, customer satisfaction, reputation and adherence to ethical standards. On the other hand, KFH was selected as the safest Islamic bank in Kuwait through an evaluation of certain criteria by global rating agencies -Moody’s, Standard & Poor’s and Fitch- of the 1000 largest banks in the world in terms of assets, financial indicators and long-term credit. ratings Founded in 1987 and headquartered in New York, Global Finance is a trusted source of information and has readers in more than 190 countries, as well as 35 years of experience in international financial markets.