Kuwait Finance House voted as best Islamic bank in world

Kuwait Finance House (KFH), the leading Islamic bank in the region, was voted the Best Overall Islamic Bank in the World for the year 2007 at the most comprehensive Islamic Finance News annual poll.

The announcement came during the awards ceremony held in the Malaysian capital Kuala Lumpur, where KFH was also announced the "Most Innovative Islamic Bank" and "Best Islamic Bank in Kuwait".

The awards were received by KFH Group Head of Treasury Abdul Wahab Al Rushood.

The poll for best Islamic banks for the year 2007 was organised by the Islamic Finance News. Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world were invited to participate.

KFH_Group general manager and CEO Mohammed Sulaiman Al Omar expressed immense gratitude on the announcements.

He dedicated the award to the continued patronage of the bank's loyal customer base, and attributed it to the forward-looking vision of the board.

The commitment of management and staff, customer care and best suite of products and services were the main reasons which tilted the scales in favour of KFH.

He said that the award reflects the recognition of KFH as a growing leader in Islamic and commercial banking, which has been achieved through consistently best performance ratios, continued product and service innovation, and various strategic initiatives for growth.

KFH-Bahrain general manager Abdulhakeem Alkhayyat said: "We are proud to receive the award. This is in recognition of KFH's strategic vision, our execution expertise, management depth and our belief in Islamic banking principles.

"The Award is also a manifestation of the hard work and innovation that KFH is known for. It also validates our efforts towards creating a strong institution with best international practices and standards.

"For over 30 years the Bank has successfully developed and structured innovative products that meet the requirements of customers in the areas of retail and corporate banking. We have been growing steadily on all domains and are committed to sustaining our growth."