Acting Group CEO of Kuwait Finance House (KFH), Abdulwahab Iesa Al Rushood, stressed the importance of innovation, research, and development in KFH systems, saying that they are vital in enhancing the leadership position of the bank.

He added that encouraging employee innovation would also contribute to supporting KFH in leading the competition and enhancing customer service and brand value.

He added that this is achieved by allowing employees to share their innovative ideas and creative projects, stating that a flexible work model has been adopted for facilitating the implementation of innovative ideas, as well as allocating the material and human resources required to implement the successful innovations of KFH employees.

In his speech during the ceremony honoring a group of KFH employees who presented their innovative ideas, Al Rushood called for more efforts towards innovation, creativity, and the development of performance under controls, obligations and policies that derive their strength from strategic and methodological foundations.

He revealed that the innovative ideas are subject to an assessment by a committee entrusted with screening and studying the contributions of employees, which amounted to 30 ideas and projects since the beginning of the year. Al Rushood indicated that these ideas are in harmony with the latest banking developments in the world, as well as the needs, and aspirations of customers. The innovations also take into account the extent of competition, quality, professional and regulatory standards adopted locally, regionally, and globally.

Al Rushood stated that KFH, as a world leading Islamic financial institution, provides an enabling environment for innovation and development, which is carried out by granting opportunities for staff at KFH to share their brilliant ideas at Kuwait level, or at the Group level in Turkey, Bahrain and Malaysia. Subsequently, the Bank rewards them for their contributions, noting that this trend enjoys the high support of the senior and executive management.  

Al Rushood pointed out that innovation and creativity are key priority in KFH's method of work that supports the creative performance of its employees, who provide novel ideas and positive concepts that have a tangible impact on the various aspects of work.

Meanwhile, KFH’s Manager-Digital Innovation, Sulaiman Abughosh said that the employees awarded by KFH have won the competition, among other competing colleagues, at Kuwait level. In addition, the winners are expected to compete at the end of the year in the innovation competition at the Group’s level. He pointed out that KFH has assigned a committee for the study and evaluation of proposals submitted by all departments and sectors subject to specific professional standards. The most prominent of these standards are compatibility of ideas with the general policy of KFH, the originality of ideas proposed, and their contribution to improving service quality.

He pointed out that the concerned committee is constantly receiving constructive innovative ideas from various departments of KFH, which reflects the leading standing of the Bank and builds a solid and continuous base for innovating new services and products.