Kuwait Finance House KSCP: KFH wins Best Private Bank for Islamic Services award
Kuwait Finance House (KFH) won the highly regarded “Best Private Bank for Islamic Services” award globally at the 31st Private Banker International Global Wealth Awards 2021.
The award recognizes how well-known banks are adapting to market and technological changes in a post-COVID-19 economy, their socially responsible investment strategies and how industry participants differentiated their proposition to protect and increase revenues to offset the immediate losses caused by the unprecedented crisis. economic downturn resulting from COVID-19. Other key areas of assessment for banks included digital innovation and the adoption of technologies to improve the customer experience. An independent jury evaluates each submission and ranks each application. The total of all scores is then combined and compared to other submissions to determine the winner.
Haytham Alterkait, Group Chief Information Officer (KFH), expressed his pride that KFH won the “Best Private Bank for Islamic Services 2021” award. He said that this prestigious award reflects the Bank’s success in developing the best innovative banking solutions, its leadership as a global Islamic institution, and its improved financial performance as well as its great flexibility during the pandemic.
He confirmed that the award is the culmination of KFH’s efforts to provide the highest standards of Islamic financial services, especially after the significant success achieved by KFH which has contributed to the development of the banking sector. This is in addition to his concern to develop services in the Islamic finance industry.
Alterkait added that âdespite the tremendous impact of the pandemic on markets and economies, we have been unique in launching several digital services in 2020 and 2021. For example, KFH was the first bank to implement the signature service electronic for personal financial transactions and to offer instant card issuance using a hybrid solution where customers can print their cards in 3 minutes. In addition, KFH presents integrated digital services through different channels; KFHonline app, KFH Go and website, among other alternative channels. ”
He explained that the award is well deserved thanks to KFH’s outstanding contributions in developing Islamic financial services and innovative products that meet clients’ needs effectively and efficiently while keeping up with the latest banking and financial technologies.
Alterkait confirmed that the global awards won by KFH this year reflect the main strengths of the bank, including diversified and strong Islamic franchises, high liquidity, geographic distribution at group level, as well as diversified banking and investment services. who adopt the latest global technologies. and standards.
âIn addition to its leadership position in the financial services and Sukuk markets, KFH has made qualitative leaps in the implementation of the digital transformation strategy by adopting the latest financial innovations,â he said.
According to MEED, âWith its heritage as the first Islamic bank to be established in Kuwait, Kuwait Finance House has achieved a lot in its 44 years of operation. As the only Islamic bank covering several international markets, it is able to offer an unparalleled breadth of service to their clients. ”
Private Banker International (PBI) is an editorial independent information service for banks, financial services companies, related intermediaries and technology providers in the private banking and wealth management industry. It also provides valuable and credible insight into global private banking strategies, products and services, regulation and compliance, merger and acquisition activity, and transactions and technology.
The 31st edition of the Private Banker International Global Wealth Awards is presented by the publication Private Banker International, organized in collaboration with Middle East Economic Digest (MEED) and its parent company GlobalData.