Kuwait City, May 23: Kuwait Finance House (KFH) was recognized for its leading position in the Islamic banking sector by winning five prestigious awards at Euromoney's Middle East Awards for Excellence 2024, held in Dubai.

The awards are Kuwait's Best Bank, Kuwait's Best Digital Bank – tam digital bank, Kuwait's Best Bank for ESG, and Kuwait’s Best Islamic Bank. Additionally, KFH Capital, the investment arm of KFH Group, won the Islamic Finance Deal of the Year Award in Turkey for its role in the Republic of Turkey's USD 2.5 billion Sukuk.

KFH Deputy General Manager Public Relations and Media, Yousef Abdullah Al-Ruwaieh, KFH Group Deputy General Manager Compliance and Governance, Meshal Alshayee, and KFH Deputy General Manager for Digital Transformation, Eng. Tareq Al-Ajeel received the awards on behalf of KFH. Meanwhile, Assistant Vice President of Debt Capital Markets Department at KFH Capital, Khalid Alshami received the award on behalf of KFH Capital.

The Euromoney Awards panel, comprised of journalists and a research team, selects winners based on a defined set of criteria. These criteria include financial solvency, performance indicators, the breadth and depth of financing services offered, as well as a bank's capacity for innovation, sustainable growth, and adaptation to evolving market conditions. The panel also considers how well banks meet customer needs, embrace technological advancements, and achieve success in their digital transformation strategies. Additionally, Euromoney recognizes the outstanding performance of winners over the past twelve months. These awards recognize Islamic financial institutions that have significantly contributed to the growth of the Islamic banking and finance market, while also making a positive impact within their markets.

Winning these awards further recognizes KFH`s successes and achievements in its pursuit of becoming one of the 100 largest banks globally. KFH is also committed to leaving a clear mark by supporting development and economic growth in Kuwait.

Yousef Al-Ruwaieh

KFH Deputy General Manager Public Relations and Media, Yousef Abdullah Al-Ruwaieh said that these awards reflect the appreciation KFH enjoys and its leading position in the banking industry, both generally and specifically within Islamic banking.

Al-Ruwaieh expressed KFH's pride in this achievement. These awards stand as a testament to the teamwork, sincere efforts, and dedication of KFH's work team. They also serve as a recognition of KFH's commitment to earning the trust of its esteemed customers, who are truly partners in KFH's success.

He pointed out that KFH is committed to achieving even greater success by continuing to strengthen its global position across the Group's global network, which spans 12 countries.

Meshal Alshayee

The Group Deputy General Manager for Regulatory Compliance and Governance at KFH, Meshal Alshayee highlighted that KFH's recognition as the most sustainable bank in Kuwait reflects the bank's commitment to implementing impactful sustainability initiatives.  This includes adhering to ESG standards and contributing to the achievement of the Sustainable Development Goals (SDGs). KFH's focus extends beyond just business quality and performance efficiency. It also prioritizes achieving financial inclusion, empowering women, and meeting the evolving needs of its diverse customer base.

Tareq Al-Ajeel

KFH Deputy General Manager for Digital Transformation, Eng. Tareq Al-Ajeel said that the "Best Digital Bank in Kuwait" award for “tam” Digital bank is a well-deserved recognition of KFH`s successful digital transformation journey.  He added that KFH has implemented cutting-edge financial solutions and dedicated youth-focused digital banking services.  Al-Ajeel also stressed KFH's commitment to continue developing pioneering digital banking initiatives that enhance the customer experience and meet their evolving aspirations.

Khalid Alshami

Assistant Vice President of Debt Capital Markets Department at KFH Capital, Khalid Alshami said winning the Islamic Finance Deal of the Year award for the Republic of Turkey's USD 2.5 billion Sukuk reflects KFH Capital's prestigious position and long experience in the Sukuk field. This Islamic instrument has become an increasingly popular choice for companies and governments to finance their development, expansion, and growth plans.

He explained that KFH Capital has successfully implemented major deals in Kuwait and the region, particularly in the Sukuk market. This experience solidifies its position as a provider of diverse and comprehensive Sharia-compliant investment products and services.

Alshami added that KFH Group has also played an important role in sustainability through green Sukuk, as KFH Capital has previously succeeded in arranging many issuances in this field, the most important of which are through the issuance of a USD 350 million Green Sukuk for KFH- Turkiye. This issuance is the first of its kind from an Islamic financial institution and the world's first tier 2 sustainability Sukuk.