Fahad Khaled Al-Mukhaizeem, Chairman of KFH-Research Ltd, a subsidiary of Kuwait Finance House Group (KFH Group), stated that the company is working to strengthen the links between the bodies, economic, research and statistical institutions in Kuwait and the Middle East with their counterparts around the world .This will effectively support collaboration, and lead to expand and develop data study. It also plays role in achieving institutional integration, and benefiting from the economic researches to meet the challenges and better understand the capital markets, which would contribute to transform Kuwait into a commercial and financial hub in the region.
Al-Mukhaizeem added during inking memorandum of understanding ceremony MoU with the Central Administration of Statistics (CAS) that the memo is considered to be a platform for further fruitful cooperation between the two parties. He explained that as the importance of Islamic banking increases and its role in the development of the national economy become more prominent, the CAS attempts to establish a statistics system that facilitates the mission of data users; thus ensuring that the CAS operates according to international standards.
Moreover, Al-Mukhaizeem noted that the reports and studies cover a wide array of research topics of high interest, such as the international financial and organizational frames, not to mention financial analysis and economic feasibility studies. He stressed that both parties will work together in fields that include exchanging of information, and raising awareness regarding learned lessons that can boost the development of Islamic finance and research, not to mention the preparation of studies, statistics, and reports. This will offer better services for the Kuwaiti and GCC communities.
Meanwhile, the CAS Manager Dr. Abdullah Sahar mentioned that this cooperation will lead to offering a high level of advanced researches for developmental, residential, and environmental plans, according to international standards; especially after the growing demand for data and statistical information.
Furthermore, Sahar welcomed all authorities interested in statistics in both the private and public sectors, to ink such agreements that contribute to the national information system. He explained that KFH-Research and CAS have common goals to reinforce, document, develop, and exchange data in Kuwait and worldwide. He added that they also serve the banking industry and everything related to statistics. He went on to explain that this agreement cements KFH-Research and CAS role in supporting development, planning, and establishing a professional work team to underline economic integration.