As part of its leadership in social responsibility and sustainability, Kuwait Finance House (KFH) has concluded its sponsorship of the International Conference on Sustainable Development, Social Responsibility, and Business Ethics organized by the Gulf University for Science and Technology (GUST.

Commenting on this occasion, KFH Executive Manager Governance and Sustainability, Mohammad Alarbeed said that KFH places significant importance on sustainability, as well as social and environmental responsibility. These efforts are guided by the Board of Directors, ensuring that the KFH’s endeavors are aligned with Kuwait’s Vision 2035 of achieving the Sustainable Development Goals.

During the seminar hosted by GUST, Alarbeed highlighted that KFH adopts a comprehensive approach to sustainability, integrating its principles across initiatives that serve individuals, society, and the broader global community. “KFH is considered a pioneer in the field. It has embraced sustainability since its establishment due to its strong alignment with Islamic Sharia principles.” added Alarbeed “Last month, KFH bagged four prestigious awards from EMEA Finance Magazine for the year 2024, including the Sustainability Award – Middle East Level.”

He explained the concept of sustainability to students, offering examples of KFH major projects, initiatives and activities concerning environment preservation. The most important of these efforts is the Keep it Green initiative which promotes environmental protection to maintain sustainability. “In terms of green services, KFH offers green Sukuk, and bank cards made from recycled materials.” he remarked.

Additionally, Alarbeed highlighted KFH’s key roles in the field of sustainability, such as signing a memorandum of understanding with the United Nations Development Programme (UNDP) to support women’s empowerment principles. He also mentioned that KFH received the Global Sustainability Assessment System GSAS – Gold Level Certificate for KFH Auto building. The certificate rendered KFH as the first bank in Kuwait to receive this honor reflecting the building’s design in accordance with sustainability principles and environmental standards.

He also shed light on KFH’s social contribution in the reconstruction of the damaged area in Al Mubarakiya. The Bank’s initiative involves reconstructing approximately 17 buildings in the damaged area, along with the development of some neighboring structures. The project aligns with the sustainability principles and environmental preservation by greening the rooftops of the new buildings and the overall area.

It is worth noting that KFH released its Sustainability Report last year, a pioneering document in the Kuwaiti banking sector. This comprehensive report integrates the bank's financial and non-financial performance, aligning with Integrated Reporting principles. By enhancing transparency and accountability, KFH demonstrates its commitment to embedding a sustainability strategy in line with global best practices. The report provides a comprehensive and integrated overview of KFH's business, encompassing the bank's performance, challenges, opportunities, and key activities related to sustainability, social responsibility, and environmental impact. KFH has also released the Carbon Footprint Report, first-of-its-kind in Kuwait’s banking sector.