KUWAIT CITY, Dec 21: Kuwait Finance House (KFH), through the Business Continuity Management Team in the Group's Risk Sector, concluded one of the largest simulation exercises within its annual activities schedule, which discussed many important scenarios related to the geopolitical situation that the region is going through, the role of the crisis team and ways to deal with these circumstances in cooperation and coordination with KFH's vital departments.

With the support of the executive management, the exercise was carried out, which is based on the experience of simulating exposure to exceptional circumstances as a result of geopolitical repercussions and developments at the regional and global levels, and the adoption of mechanisms and means to deal quickly and deal positively with them, while identifying and mobilizing all capabilities, material and human, which ultimately results in success in facing emergencies, overcoming crises, achieving continuity for the bank's vital business, in addition to enhancing the operational flexibility of KFH.

The exercise provided an opportunity to emphasize the readiness of the plans developed on a professional basis and the high-value operational considerations of the work system, and to emphasize adherence to clear controls and instructions according to regulatory determinants in the harshest circumstances and regarding various developments.

Therefore, experts in this type of exercise are considered one of the most important means of enhancing the ability to recover, in addition to being the most prominent tool to confirm compliance with the requirements of the Central Bank of Kuwait, which in turn supports banks' preparations to deal with crises.

KFH builds its business and activities at the group level on the basis of its precautionary policy, taking into account various economic and geopolitical developments and developments, and dealing with them in order to reduce any  possible negative effects on the business, in a way that also ensures improving the quality of assets and preserving their values, rationalizing expenses, and careful study of markets and targeted activities from all aspects to reduce any risks, with the exit from areas that require high allocations, or may be exposed to severe fluctuations from the repercussions of potential crises.

Constant risk assessment and scenarios to deal with them will enhance efficiency, innovation and growth, provide a safe and scalable environment, monitor market movements, support the ability to always establish quality performance, and develop action plans to develop a strict credit policy with improved asset management.