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In the news..
For the 12th consecutive year KFH Launches Annual Quran Recitation Competition
Kuwait Finance House (KFH) has launched the 12th annual Quran Recitation competition. The two-day competition is designed for children and youth.
KFH Executive Manager Social Media and PR Services Center, Abdullah Al-Saif, said that the competition encourages the discovery of talents in Tajweed and recitation, and motivates the current generation to read the Holy Quran, while also clarifying some of the rules of Tajweed. He also noted that the competition was broadcast on KFH's social media channels and received extensive media coverage from various outlets.
He further stated, "KFH's hosting of this competition, which boasts the largest prize value, is a significant part of its 'Increase Good Deeds in Ramadan' program. This initiative demonstrates KFH's commitment to its social responsibilities and aligns with the core values of Ramadan, a time for Quranic reflection and recitation."
Al-Saif highlighted the significant number of Quran memorizers and reciters who have registered for the competition. As the pioneering host, KFH has earned significant trust, resulting in strong participation in this competition, which is further enhanced by a distinguished judging panel and excellent organization.
The competition is organized separately for male and female participants, as clarified by Al-Saif. It includes awards for approximately 40 winners, with prizes distributed to those selected from among the applicants at the conclusion of the competition. Participants will recite specific verses from designated sections, as determined by the judging committee. Another competition was held for KFH employees, with valuable prizes for 30 winners.
KFH Wins 3 Awards for Exceptional Performance in 2024 by Visa
Kuwait Finance House (KFH) won 3 prestigious awards from VISA in recognition of its outstanding performance in 2024. These awards highlight KFH’s commitment to innovation, customer satisfaction, and leadership in the banking sector, not to mention the keenness on continuously reinforcing the value of its banking cards.
The 3 distinguished awards are:
Best-in-Class CIF Growth in Kuwait for 2024
Best-in-Class Commercial Card Volume Growth in Kuwait for 2024
Best-in-Class Cross Border Ecomm growth in Kuwait for 2024
It is worth noting that “Best in Class” compares KFH against banks of its caliber (top 3) and KFH is on top.
KFH Group Chief Executive Officer Khaled Yousef Al-Shamlan, expressed his pride in the recognition, indicating on receiving the awards from Visa’s SVP and Group Country Manager for GCC, Dr. Saeeda Jaffar, in the presence of number of KFH and Visa officials at KFH Headquarters, that the 3 awards are a direct reflection of KFH’s ongoing commitment to innovation and excellence in delivering customer-centric banking solutions.
He pointed out that through its customer-centric approach and strategic investments in cutting-edge technology, KFH, the largest bank in Kuwait by market capitalization and the second-largest Islamic bank in the world, continues to drive growth in key areas, positioning itself as a leader in the financial landscape.
AlShamlan: Kuwait's economic reforms pave the way for significant opportunities for financial institutions
Group CEO of Kuwait Finance House (KFH), Khaled Yousef AlShamlan said that in 2024, Kuwait's economy demonstrated resilience amid global economic challenges. He added that the banking sector in Kuwait maintained stability, benefiting from increased financing activity and improved asset quality.
“Looking ahead to 2025, Kuwait's economy is expected to continue its positive trajectory, driven by diversification efforts. The banking sector is likely to experience further growth through digital transformation initiatives and increased investment in non-oil sectors, presenting opportunities for innovation and expansion,” AlShamlan explained in an interview with Global Finance magazine. “There will be more reliance on AI and robotics as adopting generative AI promises improvements in decision-making, profitability, fraud detection and prevention, and better risk management.”
Meanwhile, AlShamlan said that “Kuwait's economic reforms are paving the way for significant opportunities for financial institutions. Initiatives aimed at enhancing the business environment, such as public-private partnerships and regulatory simplifications, will facilitate greater investment inflows. Moreover, the push for digital banking and fintech solutions presents avenues for institutions to enhance service delivery and customer engagement. Overall, these reforms create a conducive environment for sustained growth and collaboration in the financial sector.”
KFH Continues Iftar Campaign at Various Locations Across Kuwait
Kuwait Finance House (KFH) is continuing its Iftar campaign for the 2025 Ramadan program "Increase Good Deeds in Ramadan", by distributing Iftar meals at various locations across Kuwait.
During its Ramadan campaign, KFH partnered with the Kuwait Food Bank and Relief to distribute "Ramadan Majla" food baskets to families in need. This initiative promotes volunteerism and strengthens the value of charitable giving.
KFH`s Ramadan program encompasses providing hospitality services at mosques and sharing Iftar meals with entities that continue to perform their duties during the Iftar period. This initiative underscores KFH's commitment to social responsibility and its dedication to serving the community consistently.
KFH's comprehensive Ramadan program features diverse sports and health-focused youth activities for all age groups, promoting the importance of physical activity and overall well-being for individuals and the community. Marking its 12th consecutive year, KFH is organizing the "Qurra’a Baitek" Ramadan competition, a significant community event pioneered by the bank.
KFH continues to utilize its social media platforms to engage with the public and its followers. The bank has produced a series of informative videos covering diverse topics, including health tips and guidance in collaboration with medical doctors and nutrition specialists. Furthermore, KFH is disseminating awareness messages in partnership with the Ministries of Health and Interior. The bank also provides daily Ramadan calendars, hosts various competitions, and offers coverage of events and activities related to the holy month.
As part of the Iftar campaign, approximately 30,000 Iftar meals will be distributed to fasting individuals at key locations across Kuwait's governorates, with the goal of reaching the most people in need.
