Kuwait Finance House (KFH) has announced the completion of converting Ahli United Bank – UK conventional banking services to be compliant with Shariah principles last Thursday, 25 August 2024.

KFH Group Chairman, Hamad Abdulmohsen Al Marzouq said that the successful completion of converting Ahli United Bank - UK from conventional to Islamic banking is a significant milestone in KFH’s leading journey. This achievement builds on the earlier success of converting Ahli United Bank – Bahrain from conventional to Islamic banking in record time with exceptional efficiency.

Al Marzouq pointed out that this conversion follows the KFH’s acquisition of Ahli United Group in October 2022, as part of the KFH’s strategic plan to strengthen its Islamic banking capabilities and broaden its global presence.

He added that converting Ahli United Bank - UK to Islamic banking supports the KFH’s efforts to diversify its services, particularly those catering to high-net-worth individuals and their specific financial and banking needs, while also fostering wealth growth and meeting their aspirations through integration across the Group's units.

He also noted that this step adds significant value to the Islamic banking industry in Europe and the world, particularly since the UK market offers various promising opportunities and demonstrates increasing interest in Sharia-compliant services and solutions.