AlShamlan: KFH has a Pioneering Role in Supporting National Development Plans

This news has been read 807 times!

Kuwait City, June 12: Kuwait Finance House (KFH) has participated in the Forum of Major State Development Projects, recently organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses (KFEOCH) from 11^th to 13^th of June. Titled “Sustainability, Transparency and Achievement are the Pillars of the New Era”, the three-day event is the result of a fruitful collaboration with the General Secretariat of the Supreme Council for Planning and Development (SCPD) and Kuwait Direct Investment Promotion Authority (KDIPA).

“KFH’s participation is derived from its pioneering role in supporting the development efforts to enhance the national economy,” said Khaled Yousef AlShamlan, KFH Kuwait Chief Executive Officer in his speech during the forum. “KFH is also committed to be involved in relevant significant events that target the advancement of the economy through different initiatives.”

AlShamlan emphasized that KFH is committed to utilizing its capabilities, expertise and high creditworthiness to further contribute to major development projects at all vital industries. In light of the robust financial performance and various competitive advantages which include a global presence that spans across 12 countries, topping companies listed on Boursa Kuwait in terms of market capitalisation (about USD41 bn) and scoring the highest profitability rates in the banking sector, in addition to its solid capital base, as well as high liquidity ratios, KFH enjoys a high creditworthiness to finance major projects in the infrastructure and oil sectors. These advantages also grant KFH the headship in mega financing deals that align with Kuwait’s 2035 vision and boost the country’s competitiveness as a regional financial and commercial hub.

He added: “In light of the major requirements and pressing economic reforms, development topics are becoming indispensable. Their importance goes beyond governmental level as private sector and different institutions are working collaboratively to re-design the development plan, promote investment in the country, boost local economy, as well as maintain intellectual wealth and human talents by employing them in the appropriate positions.”

AlShamlan pointed out that KFH has a track record of contributions to development projects and private-public partnership initiatives. The most important initiatives include supporting the Kuwait International Airport expansion project and participating in the largest financing deal denominated in Kuwaiti Dinar, for Kuwait Petroleum Corporation and its subsidiaries. This deal included both the clean fuel project and the Liquefied Natural Gas Facility project.

“The robust capital base, high solvency, efficiency and extensive legacy have made KFH a strategic partner of these vital projects,” said AlShamlan.

He also stressed the leading role KFH plays in financing SMEs considering their importance in diversifying the national economy and generating employment opportunities for youth, the basis of sustainable development.

AlShamlan concluded his speech by hoping that this forum will achieve its purposes in moving forward with implementing major development projects, accomplishing sustainable development goals (SDGs), establishing long-term solutions that depend on economic basics, and granting the opportunity to the private sector to contribute to development.

He said: “Amidst the positive environment, we also hope that the economic achievements will be attained, praying to the Almighty to assist us in serving our beloved Kuwait.”

It is worth noting that KFH is one of the most preferred and trusted institutions in the Kuwaiti banking sector for corporate finance. The bank has the largest market share in financing SMEs in addition to its ability to finance various major projects thanks to its robust capital base, high solvency, and strong credit rating as well as a wide diverse, flexible and efficient Sharia-compliant financing solutions.

Additionally, KFH’s significant contribution reflects its belief in the crucial role played by the corporate sector and mega projects in driving economic development.

The Bank also offers comprehensive financing solutions across various project sectors, with a particular focus on petrochemicals, oil and gas, water and energy, renewable energy, and infrastructure. The financing solutions KFH offers include project long term financing, Sukuk issuance in addition to other methods of financing that cater to the different needs of projects and companies.

Thanks to KFH’s experience in the financing market and extended relations with regional and international banks, KFH is the ideal lead arranger of syndicated financing deals.

This news has been read 807 times!