Kuwait City, Nov 20: Kuwait Finance House (KFH) has been ranked number one in Kuwait by The Banker, the world`s most prestigious banking magazine owned by the Financial Times Group.

The ranking affirms the continuous progress of KFH, which is built on financial stability, robust operational performance, consistent growth in all indicators, in addition to its Sharia-compliant innovative solutions that cater to the banking and financial needs of businesses and individuals according to the highest global standards.

On this occasion, Acting Group Chief Executive Officer, Abdulwahab Iesa Al Rushood, said that KFH is dedicated to maintaining its exceptional standing as the foremost bank at all levels and strengthening its outstanding position in the banking industry both locally and globally.

He highlighted the numerous accolades KFH has recently earned from various financial organizations as a testament to its achievements, distinguished performance, and leadership. KFH has also consistently received solid ratings from major global rating agencies, earning the trust and confidence of shareholders and customers.

Al Rushood added that KFH gives significant importance to increasing its market share, improving service quality, workforce efficiency and customer centricity. The Bank is also gearing its efforts towards enhancing its service and products to maintain its versatility and comprehensiveness to cater to customers’ needs and demands.

He added that the estimable international recognitions, particularly those earned from reputable organizations like The Banker Group, serve as a motivation towards achieving further success, reaching higher levels of excellence to broaden its customer base and range of services and products. This, in turn, will strengthen KFH’s position in the market to lead the competition.

"We continue our efforts towards achieving balanced growth with deliberate risks assessments and high-quality assets, while focusing on core banking activities, raising the pace of operational performance as well as concentrating on digital transformation and innovation. Thus, enhancing KFH’s role in serving its customers and the national economy, and developing the Islamic banking industry,” he said.

As part of a forward-looking vision for the future of banking, Al Rushood stressed the interest of KFH in keeping pace with modern banking technology, which is witnessing rapid and continuous development.

He pointed out that KFH is also focusing on digital transformation, modernization of mobile banking services, as well as e-services and other means that enable customers to benefit from them around the clock.

He went on to say that KFH will continue enhancing its banking services by launching a package of distinctive services that give the customer an added value, in addition to a number of benefits tailored to each segment of customers, which consolidate the quality and distinction of the brand.

After thoroughly analyzing KFH’s annual financial performance, reputation, and effective management, as well as considering expert opinions through a survey, the distinguished magazine proclaimed that KFH holds the top position among Islamic banks in Kuwait.

The Banker holds a highly esteemed position and is considered one of the most trustworthy publications in the banking industry in the region. It upholds the highest standards of journalistic excellence in the field of finance, precise reporting, thorough analysis, professionalism, and integrity. The Banker’s Top Islamic Financial Institutions ranking was first created in 2006.