PHOTO
- Diversification in KFH-Turkey's financing Portfolio
- KFH's Share of Sovereign Debt Issuances 50%
Kuwait - "The market share of Kuwait Finance House- Turkey (KFH-Turkey) accounts for 37% of the participation banking in Turkey. The total assets of participation banks as percentage of the total assets of banks in Turkey account for 5-6% and is expected to surge" said KFH-Group CEO, Mazin Saad Al-Nahedh.
Speaking to Sky News Arabia TV in an interview conducted at the KFH's Headquarters, Al-Nahedh added that the diversification of KFH-Turkey's financing portfolio makes its assets in a good position, indicating that the diversifications in the economic sectors allow KFH-Turkey to diversify the sectors to finance.
He revealed that no intentions now for new acquisitions in Turkey, however, nothing prevents KFH from that if the opportunity is good and the prices are suitable. The growth rates in KFH-Turkey outpace the rates in Kuwait, Bahrain and Malaysia. This is attributable to the diversification of economy resources that encompass infrastructure, education, health, real estate investment and so forth.
Al-Nahed said that the failed coup in Turkey will diversely impact the investment in Turkey on the short term only, while the medium and long terms will witness robust growth and stability as the government won votes of confidence from its people, which lead to more political and economic stability, thus further lures investors.
He reassured that KFH closely and prudently monitors all the exposures of the bank in compliance with the instructions and regulations of the central bank and the regulatory authorities, indicating that the Kuwaiti banks have strong capital base. The capital adequacy ratio CAR of KFH-Group surpassed 17% as of end Q1.
Al-Nahedh said that KD 700 million sovereign debt issuances to Islamic banks since the beginning of the program that had started last April. The share of KFH accounts for 50% which represents its market share of Islamic banks in Kuwait. He noted that the pace of offering bonds is suitable for the market and the liquidity volume.
Kuwait Finance House (KFH)
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic products and services, not to mention a high standard of innovation and client service.
KFH manages its operations in the GCC, Asia, and Europe through over 446 branches, including KFH-Turkey, in order to offer services for the bank's clients in Turkey, Malaysia, Saudi Arabia, Bahrain, Germany, Jordan, and Dubai.
KFH's mission is to achieve highest levels of excellence and innovation in the field of client service, while developing common interest for all those concerned with the financial institution. KFH's vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.
KFH's values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation and in client service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.
For more information, please visit: www.kfh.com
© Press Release 2016
