For 46 years, Kuwait Finance (KFH) has achieved distinguished success, passing through key phases since launching its operations on August 31, 1978. KFH was able to build a parallel financial and economic sector to its conventional counterpart, achieving leadership in this field and expanding its reach geographically across many countries. KFH introduced a diverse range of Islamic financial products and financing solutions that have enriched global markets, making Sharia-compliant products a reliable standard in financial and banking transactions worldwide. This success has allowed KFH to lead the Islamic banking industry, efficiently contributing to raising the level of the private sector in Kuwait and the global market. KFH also demonstrated the private sector’s ability to be of an added value to the global economy.

640 branches across 12 countries

KFH has become a global financial group and a distinguished brand with credibility and trustworthiness, maintaining a solid financial position and achieving sustainable profits, with a global presence through around 640 branches spanning 12 different countries, including Kuwait, Turkey, Bahrain, Malaysia, Saudi Arabia, Egypt, the United Arab Emirates, and Germany. KFH is ranked first among the largest listed companies and banks on Boursa Kuwait in terms of a market capitalization which exceeded KD 12 billion. It also reports the highest profit rates in the banking sector, with a 2023 net profit attributable to the bank shareholders reaching KD 584.5 million, an increase of 63.4%, the highest profit in the banking sector of Kuwait.

In 2022, KFH acquired Ahli United Bank – Bahrain (AUB – Bahrain) and completed its conversion to a Sharia-compliant bank in December 2023. KFH also completed the merger with Ahli United Bank – Kuwait (AUBK) in February 2023. Moreover, KFH launched tam Digital Bank in October 2023 as the first Sharia-compliant digital bank in Kuwait.

Amid a period when KFH received numerous prestigious global awards from recognized organizations, KFH has maintained its top credit ranking according to global credit rating agencies. In Forbes 2024 Top 100 Listed Companies, KFH ranked first in Kuwait and tenth in the Middle East for 2024 in terms of market cap and profitability. The Bank also secured the top spot on MEED magazine's list of the 100 largest listed companies in the Middle East and North Africa in terms of market capitalization. KFH is moving forward with its ambitious plan, targeting a place among the top 100 global banks in the coming years.

KFH’s leading journey has been marked by continuous success, customer satisfaction and growth, while adhering to Sharia principles and practices. The approval of the Fatwa and Sharia Supervisory Board remains a fundamental requirement for licensing and implementing any product or service.

KFH was incorporated as per an Amiri decree dated March 23, 1977, with KD 10 million capital. Business started on August 31, 1978, with one branch and a limited number of employees. Today, KFH has 640 branches worldwide with around 18,000 employees.

KFH started its operations in a temporary location at Ahmed Al-Jaber Street and moved in 1983 to Emad Commercial Center on the same street until finally settling in its current location on Abdullah Al-Mubarak Street in 1986.

Prior to opening the door for new Islamic banks to be established in Kuwait, KFH remained, for several years, the only alternative for customers wishing to consider Sharia compliant banking. This enhanced competition and growth in Islamic financial services market. Despite the emergence of new banks in the market, KFH continued its growth with a remarkable increase in customers demand for its products and services. At this stage, KFH has made great strides and strengthened its pioneering position at the local market, and the Islamic financial institutions level. The Bank also enhanced its expansion and presence in international markets, alleviated its automated programs and systems to a new higher level and played a significant and unprecedented social role in the development of society and retail services. KFH has become the most recognized symbol of Islamic banking.

Today, KFH continues to flourish and innovate new investment tools and products and achieve high profit ratios and sustainable growth in all fields. During the last 10 years, KFH strategy was developed to focus on core banking business, enhance its ability to realize sustainable profit according to a new vision to lead the Islamic finance sector worldwide. It also adopts technology and digital transformation which leads to enhancing customer experience.

Success factors

KFH success can be reflected in adhering to the operational approach based on Islamic Sharia principles, relying on scientific and professional methods of work, preparing future strategies and plans, and implementing the strategy of sustainable growth. This success is also translated in strong customer engagement, meeting their aspirations and demands, fostering creativity and innovation, while giving significant attention to human capital and keeping pace with the latest developments in the field, with a particular focus on digitalization and technological services, as well as relying on the best and cutting-edge technological innovations. These factors consistently drive the enhancement of financial capacity, expansion outlook, and alignment with technological and digital financial banking, fostering the growth of KFH across all levels.

Social commitment

KFH plays a prominent social role and continues to enhance its contributions as a benchmark of Corporate Social Responsibility (CSR) at the private sector level. The Bank directs its contributions towards activities aimed at social development, which include infrastructure development, hospitals, research and educational centers, in addition to training of people with special needs. Additionally, KFH focuses on developing the skills and capabilities of young people, supporting academic research and students, promoting health awareness, and preserving the environment.

KFH’s most prominent and recent achievements include Al Mubarakiya Reconstruction project in line with KFH’s national and social strategy. The initiative is geared towards the reconstruction of 17 buildings and the development of surrounding buildings in Al Mubarakiya market. The estimated cost of the project is around KD 8 million.

In response to the national campaign for those in need, KFH has donated KD 7 million from its Zakat funds. KFH has also contributed about KD 6 million to support relief efforts for people affected by earthquakes, with KD 3 million allocated to Turkey and KD 3 million to those impacted in Syria. Various initiatives were also implemented in cooperation with the Kuwait Red Crescent Society. Furthermore, KFH signed a memorandum of understanding with the United Nations Development Programme (UNDP) to reaffirm its prominent role in sustainable development.

The national factor

One of the most significant pillars that shaped the journey of KFH is its focus on human capital, particularly the national capabilities and ambitious Kuwaiti youth, as they are the assets of success. The Human Resources strategy aims to create an environment that enhances employees’ loyalty and engagement and fosters talent acquisition. In the last years, KFH has maintained a 100% hiring rate of Kuwaiti nationals, mostly recent graduates.

Digital transformation

KFH remains steadfast in its commitment to digital transformation, integrating the latest technological advancements across its service and product offerings. This dedication is focused on providing customers with the highest standards of quality, convenience, and security, while also contributing to cost reduction and strengthening competitive capabilities and profitability. KFH’s digital services include: KFHonline, KFH Go self-banking stations, various online services through XTM devices, instant card printing and many other online services. They are designed to continually expand the customer base, optimize operational efficiency, and drive the strategic focus on innovation and digital transformation. This approach enhances KFH's leadership in data security, digital solutions, and sustainability, reinforcing its position as a leader in the financial sector both in Kuwait and the world.

Additionally, tam Digital Bank, Kuwait's first digital sharia-complaint bank, and Zaheb digital merchant platform, are a testament to KFH’s pioneering role in digital banking and its commitment to delivering seamless banking experience to customers.