KFH, unit win top Islamic finance awards

KUALA LUMPUR: Kuwait Finance House (KFH) and subsidiary Kuwait Finance House (M) Bhd (KFH Malaysia) are off to a good year, winning in three categories at the 2007 Islamic Finance News Awards.

KFH swept the “Best Overall Islamic Bank”, “Most Innovative Islamic Bank” and “Best Islamic Bank in Kuwait” awards at the awards ceremony here yesterday.

Group general manager and chief executive officer Mohammed Sulaiman Al-Omar said in a statement the awards confirmed that KFH was on track in Islamic banking, having been established for 30 years.

“On behalf of KFH, we are honoured to receive this recognition, which demonstrates the efforts of all KFH employees,” he added.

KFH beat Dubai Islamic Bank to the Best Overall Islamic Bank award.

The awards also paid tribute to individuals in the banking sector, with CIMB Islamic Bank chief executive officer Badlisyah Abdul Ghani winning the “Best Individual Islamic Banker” award.

Badlisyah, in an e-mail to StarBiz, said: “I am honoured to have received this award and thankful for the chance to make a difference and contribute to the society in Malaysia and globally.”

On his future plans, Badlisyah said: “I plan to see through the long-term management for CIMB Islamic.

“Regionalisation of the business is a focus going forward and we will do this by optimising our group synergies and by innovating new and superior banking value propositions for our clients.”

Khazanah Nasional Bhd picked up the “Cross Border Deal of the Year” and “Equity Deal of the Year” awards following its Cherating Capital exchangeable sukuk transaction.

The transaction is listed on the Hong Kong Stock Exchange, the Dubai International Financial Exchange and Malaysia's Labuan International Financial Exchange.

Other winners were Bank Negara, which was named the “Best Central Bank in Promoting Islamic Finance” and Malayan Banking Bhd, which won the “Malaysian Deal of the Year” award.