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KUWAIT CITY, October 15: The Kuwait Finance House (KFH) has won the Global Finance Group’s “World’s Best Islamic Financial Institution 2022″ award at the awards ceremony held during the 2022 Annual Meetings of the Monetary Fund International (IMF) and the World Bank Group. (WBG) in Washington, DC, USA. Global Finance also awarded KFH the “Best Islamic Financial Institution in the Middle East” award and the “Best Islamic Takaful in the World” award for KFH Takaful. In its 31st annual ranking of the safest banks in the world, Global Finance Magazine also named KFH as 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 Shariah-compliant products through highly efficient and advanced service channels, leading digital transformation and distinguishing itself in achieving sustainability and continued growth. On this occasion, the CEO of KFH Acting Group, Abdulwahab Iesa Al-Rushood, expressed his pride in winning these awards from the famous Global Finance magazine.
He said these awards represent global recognition of KFH’s leadership position in the Islamic finance industry and highlight KFH’s effective operational and financial performance in delivering highly advanced innovative services while advancing strategy. digital transformation and continuing its proactive approach to adopting technology and innovation and focusing on improving the customer experience. He pointed out that KFH has a history in Islamic banking and has a long track record of banking and financial product and service innovations.
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 (individuals and businesses). Al Rushood said KFH is focused on supporting financial inclusion (a pillar of the Sustainable Development Goals) as part of its development role and leadership in the Islamic finance industry. He added that as the first Islamic bank to establish itself in the State of Kuwait, KFH enjoys a dominant share in the local market and a wide geographical distribution in several regions of the world through approximately 530 branches. and 1750 ATMs as well as more than 13,000 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 evaluation is conducted based on certain professional criteria and methodologies, including asset growth, profitability, geographic reach, strategic relationships, business development, product innovation, ability to respond to needs of customers in various sectors, the use of technology to provide quality products and services, customer satisfaction, reputation and compliance with ethical standards. On the other hand, KFH was selected as the safest Islamic bank in Kuwait through an assessment 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. odds. Founded in 1987 and based in New York, Global Finance is a trusted source of information with readers in over 190 countries and 35 years of experience in international financial markets.