Kuwait Finance House

Kuwait Finance House (KFH) was established in the State of Kuwait in 1977, as the first bank operating in accordance with the Islamic Shari'a.

* www.kfh.com

Kuwait Finance House

Kuwait Finance House (KFH) was established in the State of Kuwait in 1977, as the first bank operating in accordance with the Islamic Shari'a. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of KD 3.133 billion as of 31 December 2006. Assets total KD 6.314 billion and deposits amount to KD 3.730 billion, representing 25% of the total deposits in the Kuwaiti market as per the balance sheet of 2006.

KFH has been highly rated by prestigious international agencies. Standard & Poor's rated KFH A-/A2 for short and long term investments, respectively. Capital Intelligence rated KFH A/A1 for short and long term investments, respectively. Fitch International also rated KFH A, and Moody's rating was Aa3. KFH has been awarded by The Banker magazine as the world's Best Islamic Financial Institution, and for third successive year it has been awarded by EuroMoney magazine as the best bank.

KFH provides a wide range of Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services.

Since the 1980s, KFH has witnessed multi-activity in international expansion. It has established independent banks in Turkey, Bahrain, and Malaysia. Moreover, it has stakes in other Islamic banks. Its investment activities in the US, Europe, South East Asia and the Middle East contributed tremendously to achieving the ever-growing profit of KFH, in collaboration with the world's leading companies and banks, such as Citibank, Deutsche Bank JP Morgan, Chase, BNP Parisbas, ABN Amro, HSBC, and Islamic Development Bank (IDB).

KFH has always endeavored to expand its local branch network, covering 42 branches, in addition to special sections for ladies. It adopts the out-of-branch client concept. KFH has maintained its foothold as a pioneering entity in utilizing the latest technologies to meet the requirements of the various activities in which it operates, using online, SMS, as well as phone service (Allo Baitak), which has received the highest accreditation from the US Purdue University for outstanding customer service level.

KFH is proud of its manpower skills. It employs a number of outstanding human resources, and is a pioneer in manpower Kuwaitization, where Kuwaiti manpower exceeded 52%.

Kuveyt Turk (Kuwait Finance House-Turkey)

Kuveyt Turk is a Participation Bank established in 1989 to operate in accordance with terms set forth by the Council of Ministers' Decree dated Dec. 16, 1983 and no. 831/7506. Until they become subject to the Banking Law in 1999, activities of Special Finance Houses were conducted by Council of Ministers Decrees on the one hand and by Directives of the Central Bank and the Undersecretariat of Treasury on the other hand. Starting from December 1999, Kuveyt Türk has become subject to the Banking Law no. 4389 just as other Special Finance Houses.

Shareholders of Kuveyt Türk are Kuveyt Finance House (62%), Kuveyt Social Security Institution (9%), Islamic Development Bank (9%), General Directorate of Associations Turkey (18%), and other shareholders (2%).

The Kuveyt Finance House, which is the largest shareholder of Kuveyt Türk with its 62 % share, is a giant finance institution of Kuveyt with its outstanding asset volume and contemporary and pioneering banking services.

Kuveyt Türks objective is to bring diligence to the interest-free banking system, research fields of investment and introduce contemporary, reliable, rapid and high quality services to its customers with very qualified staff members. It is proud to take fast service of high quality through its branch offices, alternative delivery channels and correspondent banks within and outside the country employing all state-of-the art technological facilities to the depositors and investors. Kuveyt Türk has reached to the level of leading banks in Turkey in respect of capital adequacy.

Kuveyt Türk, which converts the savings of its customers who are profit and loss sharers into sound and profitable investments on the most profitable sectors and creates new employment facilities by providing resources to the real sector and thus, making significant contributions to the economy of the country, has been awarded gold, silver and bronze medals on various dates by public institutions and trade associations such as the Undersecretariat of Treasury and Foreign Trade, Istanbul Chamber of Commerce and Istanbul Ready Made Garment Exporters' Association for the success it has shown in the field of exports.

Kuveyt Türk, in parallel to its vision of becoming an international finance house, is preparing to open branch and representative offices abroad as well.

The 2000s, which is an age of Information Technology, compel the finance houses to operate in a more technology intensive manner. Kuveyt Türk has established the information and technology infrastructure required at the highest level. It offers all banking services through Electronic Banking and Alternative Delivery channels in the best way. Together with VISA credit card and the Palmiye Installment Shopping Card services, POS and member merchant services, Internet banking, call center, interactive voice response system and SMS banking services are presented continuously.

The permanent change project aiming at carrying the modern management techniques and management and service concept of the 2000s to the body of the company with the young and dynamic service staff, almost all of whom are university graduates and experts in their fields and expert consulting staff, its sound capital structure and economic power, make Kuveyt Türk the leader of the Participation Banks in Turkey.

Kuwait Finance House-Bahrain

Kuwait Finance House-Bahrain is a leading provider of Islamic commercial and investment banking services. Established in January 2002 as a wholly owned subsidiary of Kuwait Finance House-Kuwait, an industry leader for more than 25 years and with total assets of KD3.915BLN KFH-Bahrain, total assets BD291M, specialises in conceptualising the development and introduction of innovative, sharia’a compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals that are empowered to think innovatively and act strategically.

KFH-Bahrain pioneers the introduction of compelling financial solutions in a fast-growing, high-demand Islamic banking industry.

It is our mission to take Islamic banking and finance to new heights through an unwavering focus on innovation and the desire to deliver excellence in everything we do including the development and offer of a broad and integrated range of products and services that are in perfect harmony with Sharia’a principles.

This commitment to excellence is further combined with a commitment to longterm relationships with customers and to the markets in which we operate with a view towards:

Creating wealth and assets for our stakeholders Supporting advancements and growth in the Gulf Cooperation Council (GCC) economies and others in which we invest; and Promoting awareness and the use of Islamic banking and financing vehicles worldwide. Our mission and our commitment are backed by a robust financial position and a long and proven heritage of ingenuity,integrity and thought-based leadership.

Kuwait Finance House-Jordan

Kuwait Finance House(Bahrain) (KFH-Bahrain) has plans to establish a US$50 Million Investment Bank in Jordan. The Investment Bank will be a wholly owned subsidiary of KFH-Bahrain and will be called Kuwait Finance House(Jordan) (KFH-Jordan). KFH-Jordan will be part of the global KFH network in Kuwait, Bahrain, Turkey, and Malaysia; giving the proposed Company a large network and access to financial resources that will serve the main purpose of investing in the Jordanian Economy.

Kuwait Finance House-Malaysia

As one of the world’s largest Islamic banks, Kuwait Finance House specialises in Shariah compliant banking and investment products. Our businesses covers divisions such as Corporate and Investment, Commercial, as well as Retail banking.

Our quality of assets and financial strength have led to numerous awards including a prominent status as one the leading banks in the Gulf Cooperation Council (GCC) and an investment credit rating of 'A2' by Moody's Investors Service and 'A+' by Standard & Poors and Capital Intelligence.

With operations and affiliates in Bahrain, Turkey and the United Arab Emirates, Kuwait Finance House has now landed on Malaysian shores with an official opening by the Honourable Prime Minister YAB Dato' Seri Abdullah Bin Haji Ahmad Badawi on 17 February 2006.

As the first foreign Islamic bank to be licensed by the Ministry of Finance, Kuwait Finance House (Malaysia) Berhad aims to ensure and maintain close relationships with our customers by providing exceptional service that suits any specific need.