25/12/2024
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25/12/2024
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KUWAIT CITY, Dec 25: Kuwait Finance House (KFH) concluded 2024 with 43 distinguished awards and 4 prestigious Group-wide rankings from various global and regional entities, solidifying its leadership position and successful journey in the Islamic banking sector.
The awards recognize KFH's excellence in developing services and products that meet customers' aspirations and enhance their banking experience. The awards also highlight KFH's strong operational performance, sustainable growth, diverse strategic advantages, technological innovation, digital transformation, sustainability leadership, comprehensive corporate banking services, and social responsibility initiatives. In addition, they resemble its great success in implementing nationalization, localization and training programs at the level of the private sector in Kuwait.
Acting Group Chief Executive Officer at KFH, Abdulwahab Iesa Al Rushood said that the Bank's recent awards solidify its position as a leading global financial institution.
Al Rushood pointed out that these awards and recognitions would not have been possible without the bank shareholders and customers trust in addition to the outstanding efforts and talents of employees by providing the best levels of service to customers according to the highest quality standards.
He revealed that the success of the digital transformation strategy – which KFH was one of the first Banks to adopt – was reflected in the series of innovative services, products and solutions that the Bank has been unique in launching in recent years, indicating that this pioneering step made KFH attract new segments of customers and enabled it to meet their changing requirements and achieve their satisfaction, and enhance its leading position in the market.
World's Best Islamic Financial Institution
Al Rushood added: “KFH won World's Best Islamic Financial Institution Award in 2024 by Global Finance magazine. This prestigious recognition underscores KFH's sustained growth in regional and international operations, market leadership in Islamic finance, and a strong financial foundation and operational performance.”
In its 17th annual awards for 2024, held during a special ceremony on the sidelines of the International Monetary Fund (IMF) and World Bank Group (WBG) meetings in Washington, D.C., USA, Global Finance magazine honored KFH Group with four additional awards. KFH Group was recognized as the 'Best Islamic Corporate Bank - Global,' 'Best Islamic Project Finance Provider - Global,' and KFH-Turkey was named 'Best Islamic Financial Institution in Turkey.' Additionally, AUB, a subsidiary of KFH Group, was awarded 'Bahrain's Best Bank.
"Best SME Bank" Award
During 2024, KFH was awarded "Best SME Bank in Kuwait" by Global Finance Magazine. The award recognizes KFH's leadership in Islamic finance, its excellence in digital banking solutions such as online banking, mobile banking, and digital payments, and its significant market share. KFH holds the first place in financing small and medium enterprises.
Additionally, KFH was also recognized as Kuwait's Best Bank for Sustainable Finance by Global Finance magazine. KFH Capital, the investment arm of KFH Group, was also awarded the Best Investment Bank in Kuwait.
Best Bank for ESG in Kuwait
KFH was recognized for its leading position in the Islamic banking sector by winning five prestigious awards at the ceremony of Euromoney's Middle East Awards for Excellence 2024, held in Dubai. The awards are Kuwait's Best Bank, Kuwait's Best Bank for ESG, Kuwait's Best Digital Bank – tam digital bank, and Kuwait’s Best Islamic Bank. In addition, KFH Capital, the investment arm of KFH Group, won the Islamic Finance Deal of the Year Award for its role in the Republic of Turkey's USD 2.5 billion Sukuk.
KFH Capital, the investment arm of KFH Group, has been awarded "Best for Fixed Income in Kuwait" in the 2024 Euromoney Securities Houses Awards. This recognition underscores the company's achievements and contributions, as well as the quality of the Sukuk deals it has arranged. These include Sukuk issuances for the Republic of Turkey, Dubai Islamic Bank, and Saudi Public Investment Fund, as well as local Sukuk issuances for Kuwait Finance House, Equate Petrochemical Company, and Warba Bank. KFH Capital has excelled in delivering a diverse portfolio of uniquely structured investment products. These innovative offerings consistently generate strong returns, making the company a preferred investment choice for both corporate and individual investors.
Sheikh Salem Al-Ali Informatics Award
Adding to its record of triumphs, KFH received the 23rd edition of His Highness Sheikh Salem Al-Ali Al-Sabah Informatics Award for 2023 for the category of excellence in digital transformation in technical financial solutions. The award ceremony was held at Bayan Palace under the patronage and presence of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.
Corporate Social Responsibility Award
KFH was recognized with prestigious awards at the 16th Annual EMEA Finance Middle East Banking Awards. KFH secured the following accolades: Best Islamic Bank - Middle East, Best Bank – Kuwait, Best Islamic Bank – Kuwait, Best Product Launch (Zaheb)- Middle East and Corporate Social Responsibility – Middle East Award. Additionally, KFH won “Best Islamic Finance House” and “Best Financial Institution Sukuk” awards at the 16th Annual EMEA Finance Middle East, Africa and Europe Banking Awards. The "Best Financial Institution Sukuk" award celebrates KFH's successful US$1 billion, 5-year Tier 1 Sukuk issuance under its US$4 billion Sukuk Program.
Human Resources
KFH reaped 13 global awards in the Human Resources field for the year 2024 from the renowned Brandon Hall Group, a company specialized in the evaluation and performance assessment of Banks, companies, and institutions around the world. This achievement highlights KFH Group’s success in securing the highest number of awards at both the local and regional levels this year.
The collection of awards earned by KFH Group includes seven awards specifically awarded to KFH Kuwait, which are: Best Leadership Development Program (Gold) for the Leadership Excellence Program, Best Social Impact (Gold), Best Certification Program (Silver), Best New Hire Onboarding Program (Silver), Best Unique or Innovative Learning and Development Program (Bronze) for Forssah Program, Best Approach to HCM Innovation (Bronze), and Best HR Data Analytics (Bronze).
The awards also include six recognitions secured by KFH – Turkey, which are Best Benefits, Wellness and Well-being Program (Gold), Best Selecting and Onboarding Interns (Gold), Best Talent Acquisition Process (Gold), Best Corporate Culture Transformation (Gold), Best Corporate Learning University (Gold) for Kuveyt Turk Academy (KFH- Turkey) and Best Use of Blended Learning (Gold) for Kuveyt Turk Academy (KFH- Turkey).
Awards from the Islamic Finance Group
KFH Group triumphed at the 2023 Islamic Finance News Awards, receiving three prestigious recognitions from IFN magazine. KFH Group was named Best Islamic Bank in Kuwait for 2023, and its subsidiary, KFH-Turkey, secured the Best Islamic Bank in Turkey award for 2023. Additionally, KFH Capital, KFH's investment arm, clinched the Hybrid Deal of the Year 2023 award for its role in Energy Development of Oman's US$1 billion hybrid Ijarah-Tawarruq Sukuk.
Manpower nationalization
KFH received an honor from the Council of Ministers of Labor and Social Affairs in GCC States for its distinction and excellence in the execution of the Manpower Nationalization and qualification programs at the private sector level in Kuwait. The recognition was in a special ceremony held in Doha under the patronage of the Ministers of Labor and Social Affairs in GCC.
tam Digital Bank
tam Digital Bank, Kuwait's first Sharia-compliant digital Bank, won the "Best Technology Use in a Program" award for 2024 at a ceremony organized by Incentive Awards. The London-based event brought together Banks and companies from around the world.
tam Digital Bank won the "Best Technology Use in a Program" award for its innovative rewards program. The award was based on a rigorous evaluation of the program, which was deemed the best, unique and youth-centric rewards platform. Key criteria included user engagement, both in earning and redeeming points, the number of app members, the number of visits, and user ratings on the Apple Store.
Excellence in e-payment
KFH was awarded the Straight Through Processing Excellence Award (STP) by Citibank Group for 2023. KFH was recognized as the best financial institution in the Middle East in the areas for remittances, e-payment services and financial transactions, achieving a perfect score of 100% according to Citibank criteria for this honor.
Best Bank in Kuwait for Retail Banking
KFH was named the Best Retail Bank in Kuwait by The Asian Banker’s Middle East & Africa Awards program for 2024.
Bank of the Year from The Banker
KFH was named Bank of the Year 2024 - Kuwait by The Banker, a leading financial publication owned by the Financial Times Group. KFH's second consecutive win of this prestigious award underscores its excellence and leadership in the Kuwaiti banking sector.
Forbes Magazine Rating
Additionally, KFH achieved a remarkable feat, ranking as the leading Kuwaiti company and tenth in the Middle East in terms of market value and profitability on the Forbes 2024 Top 100 Listed Companies list. This recognition highlights KFH's pioneering role, financial strength, market value, and respected brand. It further strengthens their ambition of becoming a top 100 global bank.
First in Growth and Return on Risk
KFH Group was ranked first in the Kuwaiti banking sector in terms of growth and return on risk for this year’s Top 100 Arab Banks Rankings from The Banker, reinforcing its journey of outstanding achievements and global recognition.
ESG Rating
KFH was awarded an "A" rating by MSCI for its exemplary performance in environmental, social, and governance (ESG) practices. This prestigious rating underscores KFH's commitment to sustainable finance and its leadership in integrating ESG principles into its operations and strategic initiatives.
In addition, KFH was included in the FTSE4Good Index Series. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices.
Al Rushood stressed that that the awards are not just an appreciation, but rather a motivation to achieve more successes and accomplishments in the future. They are also evidence of KFH's ability to provide innovative products and services to meet customer’s needs, advance the banking industry and strengthen the Kuwaiti economy.
