Al-Khaled: KFH expenditure in local market exceeds KD 200 million in 1st Half |
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The AGM for Commercial Sector at Kuwait Finance HouseKuwait Finance House
(KFH)(KFH) Ahmed Al-Khaled announced that supporting local market by boosting its sales in various fields is one of the objectives of the sector, where KFHKFH's expenditure in the local market during the First Half of this year reached more than KD 200 million, which underscores the trust of the people dealing in the market, whether clients or suppliers. Al-Khaled explained that KFHKFH has managed to achieve positive results by applying the strategies and guidelines of the top management, and by abiding to the rules and regulations that govern the consumer finance market set by the supervisory authorities, in addition to the sterling efforts exerted by KFHKFH employees, who seek successes that ease the negative impact of the global crisis.
He went on to explain that consumer finance cannot be isolated from the effects of the crisis, since it is a financial service that is linked to the business of commercial markets, companies, and productive sectors, but the role played by banks and financial corporations in Kuwait played a prominent role in negating the profound effects of the crisis. It can be noticed that agents and retail companies are offering facilities to maintain complete stability.
He added that KFHKFH's relentless attempts to reinforce its market share locally requires expanding the range of services through opening sales channels, which prompted KFHKFH to authorize the supplier to sell according to the credit conditions and regulations, in order to facilitate the procedures for the client and supplier, not to mention opening Farwaniya showroom soon, which is considered to be one of the largest showrooms in the area.
Moreover, Al-Khaled said that KFHKFH launched this year a marketing campaign for Murabaha that includes all the products of the Commercial Sector, in order to familiarize the clients and the Kuwaiti society with its products, which will lead to attracting more clients; thus increasing KFHKFH's market share and cementing Murabaha as a financing tool that can meet various client requirements. He mentioned that the government's execution to projects related to social, residential and economic projects will boost economic finance for individuals, in addition to great deals offered by suppliers that attract clients.
Furthermore, Al-Khaled noted the government's vital role in boosting the market, such as increasing public expenditure. He described the Kuwaiti consumer's market as being one of the most prosperous internal markets in the area, despite its small size. However, he added that the market requires support by increasing its number of dealers. He also stressed the importance of abiding by Shariah, which is KFHKFH's identity, so KFHKFH cannot launch any product or service without receiving the approval of the Fatwa and Shariah Board at KFHKFH.
Al-Khaled noted that the number of suppliers dealing with KFHKFH exceeds 4000, and that KFHKFH always attempts to offer them logistic services and support.
-Ends-
© Press Release 2009
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