Kuwait Finance House (KFH) continued its outstanding performance in 2021 in all indicators and won 15 prestigious awards at the group level from well-known international and local providers, in recognition of its achievements in various fields. These include business and product development, the ability to meet diverse customer needs in all sectors, as well as technological innovation in service delivery and product quality, reputation, customer satisfaction, geographical reach, strategic relationships, and adherence to ethical standards.

Moreover, the awards are in recognition of KFH excellence and its pioneering role in adopting the best and latest digital technologies, keeping pace with the increasing demand for Islamic banking services, especially in the digital field, its outstanding performance in several core banking activities in the local sector as well as its contribution to the growth of the Islamic finance industry in Kuwait.

KFH’s role in adapting to market and technology shifts in the post-Covid-19 economy, and its socially responsible investment strategies, along with its ability to grow its revenues during the pandemic, also received a global recognition through winning the “Best Private Bank for Islamic Services Award".

Acting Group Chief Executive Officer at KFH AbdulWahab Al-Rushood said that global awards KFH won this year add to the series of awards, honors and recognitions that it had received, and confirm the main strengths it enjoys, in addition to being a testament and recognition of the leading position it enjoyed in local and international markets.

He added that KFH is well-healed in strong Shariah-compliance activities and has high levels of liquidity and diversified investment and banking services that adopt the latest technologies and international financial standards.

With KFH enjoying a leading position in Sukuk market and Islamic financial services market, Al-Rushood pointed out that it has also made qualitative leaps in implementing the digital transformation strategy quickly, by adopting the latest FinTech innovations.

He emphasized that confidence of KFH shareholders and customers and the dedicated efforts and efficiency of its employees, which have always distinguished KFH and established its brand and its leading position at the local and global levels, contributed to achieving these achievements and recognitions and global awards.

Al-Rushood added that the awards are not just an achievement and appreciation, but rather a motivation to achieve more successes and achievements in the future. They are also evidence of KFH's ability to provide innovative products and services to meet customer’s needs, advance the banking industry and strengthen the Kuwaiti economy.

Best Islamic Financial Institution

KFH won World`s Best Islamic Financial Institution 2021 Award from Global Magazine in its 14the annual awards for the World`s Best Islamic Financial Institutions for this year.

KFH has was named as World`s Best Islamic Project Finance Provider, while KFH-Turkey as World’s Best Islamic Financial Institution 2021 in Turkey, KT Bank AG-Germany as World’s Best Islamic Financial Institution in Europe, and KFH Takaful as World`s Best Islamic Takaful by Global Finance.

All selections were made by the highly professional team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. The stringent criteria for giving the awards included new business development and product innovation, meeting all customer`s requirements, geographic reach, and strategic relationships. Also, among the criteria considered were reputation, customer satisfaction and the adherence to ethical standards.

Al-Rushood said that the awards confirm the leading position KFH enjoys in Islamic financial services in the world and reflects the successful efforts by the bank to provide the highest standards of Shariah- compliant services.  

He added that the awards KFH receives are clear acknowledgements of its contributions to the Islamic finance industry through meeting the customers' needs of Sharia-compliant products, establishing sustainable future growth with high efficiency for the Islamic finance industry and keeping up with the latest financial and banking technology.

Moreover, Global Finance Magazine named KFH as the Safest Islamic Bank in the GCC for 2021 as part of its annual ranking of the World’s Safest Banks.

KFH was selected through an evaluation of size of assets, financial indicators and long-term credit ratings from Global rating agencies- Moody’s, Standard & Poor’s and Fitch- of the 500 largest banks worldwide.

Best Bank in Kuwait and Middle East

KFH won "Best Islamic Bank in Middle East" and "Best Islamic Bank in Kuwait" 2021 Awards from the prestigious "The Banker Magazine" owned by The Financial Times.

The Banker named KFH best Islamic bank in the Middle East and Kuwait due to the bank’s leading role in adopting digital technologies in areas like cross-border remittances and cardless withdrawals, keeping pace with the growing sophistication and increasing demands of Islamic banking customers around the world, particularly within the digital realm.

AL-Rushood said that the awards confirm KFH`s efficient performance and excellence in delivering high-quality innovative products through developed digital infrastructure. They also reflect KFH`s successful digital transformation strategy which has been a milestone during Covid-19 crisis".

He confirmed that KFH Group is keen on maintaining its proactive approach in embracing technology and innovation and focusing on reshaping customer experience by delivering best developed banking solutions.

Best Domestic Bank

KFH won the prestigious Best Domestic Bank in Kuwait 2021 award from Asiamoney Magazine, a renowned global financial publication. The award was made to KFH for its outstanding performance across a range of core banking activities in the domestic sector over the past 12 months. The award is also a recognition of the bank's contribution to the growth of the Islamic finance industry in Kuwait.

“Winning this Award provides a global recognition of KFH`s pioneering role in banking sector through harnessing its capabilities and expertise and the latest technology to deliver accessible, convenient and innovative banking products for all customer`s categories, “ Al-Rushood said.

He added that the leading position KFH enjoys in the local and international markets reflects clearly its achievements in developing Islamic financial services and innovative products that meet customer`s needs efficiently and keep pace with the latest financing and banking technologies.

Best Islamic Financial Services

KFH also won the highly commended achievement, “Best Private Bank for Islamic Services” Award, globally at the 31st Private Banker International Global Wealth Awards 2021.

The award recognizes how reputed banks are adapting to market and technological shifts in a post-COVID-19 economy, their socially responsible investment strategies, and how industry participants have differentiated their proposition to protect and grow revenues to offset the immediate losses caused by the unprecedented economic downturn resulting from COVID-19. Other main areas of evaluation for banks included digital innovation and adoption of technology to improve client experience. An independent panel of judges evaluates each submission and ranks each entry. The total of all the scores is then combined and compared to other submissions to determine the winner.

Al-Rushood said that KFH succeeded in developing best innovative banking solutions, confirmed its leadership as a global Islamic institution and its ability to enhance its financial performance as well as high flexibility during the pandemic.

He added that KFH was unique in launching several digital services in 2020 and 2021. For example, KFH was the first bank to implement the E- signature service for personal finance transactions and to offer instant card issuance using a hybrid solution where customers can print their cards within 3 minutes. Moreover, KFH introduces integrated digital services through different channels; KFHonline app, KFH Go and the website, among other alternative channels.

Creativity and Distinction Awards

KFH received 5 awards in the creativity and distinction category for the seventh consecutive year in the 9th edition of the Kuwait Creativity Award event for the year 2021.

KFH won the Public Relations Creativity Award and Social Media Creativity Award for its distinction in KFH Talk program, Advertising Creativity Award  for “Your Financing is Easier with KFH” campaign, Content Creativity Award  for the “Smile Again” and Influencing Creativity Award for “Gergean” commercial.

The 5 awards, received by KFH, affirm its creativity regarding the diversification and inclusiveness of the public relations, media, marketing and promotional campaigns and the innovative contents thereof. These campaigns had a tremendous impact and produced a remarkable professional performance in enhancing the brand for the last 12 months and in the appreciation and interest it received by all society categories.

Furthermore, the programs KFH launched during the year through social media, marketing and advertising campaigns for its products and services created a tremendous impact, enhanced communication with the public and prevailed on the banking industry and advertising levels. The programs, posted through various media tools and social media, achieved tremendous viewing and received the best ratings by viewers and followers.

KFH Volunteer Team

KFH volunteer team won with the "Best Volunteer Team" award in Kuwait, during the 2021 Kuwait Youth Voluntary and Humanitarian Initiatives Awards organized by the Arab Media Forum.

KFH's voluntary team was honored in recognition of its various contributions and efforts in volunteer work, and as a crowning of its efforts to serve the community and promote the values and concepts of volunteering.

As a top priority, KFH continues to support Kuwaiti youth in different fields and initiatives, empowering them while emphasizing the importance of volunteering and humanitarian initiatives.

Stringent international criteria

All the awards KFH won in 2021 from prestigious global bodies specialized in business and finance were based on stringent and professional international criteria that measure factors such as quality, the bank’s position, its contributions and financial indicators.

Among the criteria were excellence, initiative and innovation in products and services, performance efficiency, geographical reach, shareholder rights indicators, strength of capital adequacy and total assets, customer satisfaction, strategic relationships, and adherence to ethical standards.  

All recommendations were made by juries composed of experts and analysts specialized in the Islamic banking sector from all over the world. These criteria indicate that KFH is based on a solid foundation, and is characterized by high-level professional performance, systematic work, diversity, ability to compete, leadership in the Islamic finance industry globally, and excellence in providing an integrated system of banking and financing services which helped established its leading position globally.