Breaking Records as KFH Earns 47 Prestigious Awards in 2024

Kuwait City – Kuwait Finance House (KFH) has wrapped up an extraordinary year, earning 43 distinguished awards and 4 prestigious Group-wide rankings from global and regional entities. This achievement solidifies KFH’s position as a leader in the Islamic banking sector and highlights its commitment to innovation, sustainability, and excellence in customer service.

Recognizing Excellence in Islamic Banking

KFH’s 2024 awards underscore its pioneering role in Islamic finance, cutting-edge services, and ability to adapt to evolving market demands. From technological innovation and digital transformation to corporate social responsibility and sustainability leadership, KFH continues to redefine banking standards. These accolades also recognize its commitment to nationalization programs, significantly empowering local talent within Kuwait’s private sector.

Acting Group Chief Executive Officer Abdulwahab Iesa Al Rushood expressed gratitude to the shareholders, customers, and employees for their trust and efforts in driving the bank’s success. He highlighted that KFH’s achievements reflect its ability to meet customer aspirations while maintaining the highest quality standards in Islamic banking.

KFH’s success is deeply rooted in its digital transformation strategy, which has introduced a series of innovative products and solutions. By leveraging technology, KFH has attracted new customer segments and enhanced its market presence. This forward-thinking approach has also enabled the bank to cater to changing customer needs, solidifying its reputation as a market leader.

KFH’s efforts in digital banking have set a benchmark for the industry. With tools such as mobile banking apps, AI-driven chatbots, and secure online payment systems, KFH has redefined convenience for its customers. These innovations ensure seamless transactions, enhanced security, and personalized experiences, meeting the demands of a tech-savvy clientele. Moreover, the bank has invested in blockchain technology to enhance transparency and efficiency in its operations.

Global Recognition and Key Awards

In 2024, KFH was named the World’s Best Islamic Financial Institution by Global Finance magazine. This prestigious title reflects KFH’s sustained growth, strong financial performance, and market leadership in regional and international Islamic finance. Additional honors from Global Finance included:

• Best Islamic Corporate Bank – Global

• Best Islamic Project Finance Provider – Global

• Best Islamic Financial Institution in Turkey (awarded to KFH-Turkey)

• Bahrain’s Best Bank (awarded to AUB, a KFH subsidiary)

These accolades highlight KFH’s ability to balance innovation with tradition, offering financial solutions that align with Islamic principles while embracing modern banking practices.

KFH received the Best SME Bank in Kuwait award for its leadership in financing small and medium enterprises. Its digital banking solutions – including online banking, mobile banking, and digital payments – have revolutionized SME financing in the country. KFH’s comprehensive support includes tailored financing options, business advisory services, and digital tools that empower SMEs to thrive in a competitive market.

Moreover, KFH was recognized as Kuwait’s Best Bank for Sustainable Finance by Global Finance, underscoring its dedication to integrating environmental, social, and governance (ESG) principles into its operations. From green financing initiatives to investments in renewable energy projects, KFH demonstrates a commitment to sustainability that resonates with global trends. The bank’s contributions to renewable energy have included funding solar projects and energy-efficient infrastructure developments across the Middle East.

Euromoney Middle East Awards

At the Euromoney Middle East Awards for Excellence 2024, KFH claimed five prestigious titles:

1. Kuwait’s Best Bank

2. Kuwait’s Best Bank for ESG

3. Kuwait’s Best Digital Bank (Tam Digital Bank)

4. Kuwait’s Best Islamic Bank

5. Islamic Finance Deal of the Year for the Republic of Turkey’s USD 2.5 billion Sukuk issuance

KFH Capital, the investment arm of KFH Group, also earned accolades for its fixed-income achievements, securing “Best for Fixed Income in Kuwait.”

KFH’s investment strategies are tailored to meet the diverse needs of its clientele, from corporate investors to individual stakeholders. The company’s success in Sukuk issuance and other structured financial products highlights its expertise and reliability in the investment sector. Notable deals in 2024 include projects supporting infrastructure development in Turkey, Saudi Arabia, and Oman.

Tam Digital Bank, Kuwait’s first Sharia-compliant digital bank, received the Best Technology Use in a Program award for its innovative rewards program. This platform has become a benchmark for user engagement and customer satisfaction within the digital banking landscape.

With its youth-centric approach, Tam Digital Bank has revolutionized how customers interact with financial services. The bank’s app, equipped with intuitive features, has garnered high ratings on platforms like the Apple Store and Google Play. Its ability to combine Sharia-compliant principles with cutting-edge technology makes Tam Digital Bank a pioneer in Islamic digital banking. Furthermore, Tam Digital Bank introduced gamification elements to enhance user interaction, making banking more engaging and accessible for younger demographics.

Talent Development

In 2024, KFH earned 13 global awards in human resources from the renowned Brandon Hall Group, highlighting its success in leadership development, onboarding programs, and corporate learning initiatives. Awards included:

• Best Leadership Development Program (Gold)

• Best Corporate Culture Transformation (Gold)

• Best Use of Blended Learning (Gold) for Kuveyt Turk Academy

These accolades reflect KFH’s commitment to nurturing talent and fostering innovation within its workforce. The bank’s emphasis on employee well-being and professional growth ensures a motivated and skilled team capable of driving organizational success.

KFH’s leadership programs, such as the Leadership Excellence Program and Forssah Program, are designed to cultivate future leaders in the banking sector. By combining theoretical knowledge with practical experience, these initiatives prepare employees to tackle complex challenges and contribute to KFH’s growth. The Forssah Program, in particular, has been lauded for its emphasis on innovation and entrepreneurship.

KFH’s dedication to social responsibility was recognized at the 16th Annual EMEA Finance Middle East Banking Awards, where it won the Corporate Social Responsibility – Middle East Award and other significant honors. The bank’s initiatives in education, healthcare, and environmental sustainability have made a tangible impact on communities across Kuwait and beyond.

One notable initiative is KFH’s support for educational scholarships, enabling underprivileged students to pursue higher education. Additionally, its health campaigns, such as free medical check-ups and awareness drives, demonstrate a commitment to improving public well-being. KFH also collaborated with local NGOs to provide relief efforts during natural disasters, showcasing its commitment to global humanitarian causes.

Market Leadership

KFH’s market leadership was further reinforced by its inclusion in the FTSE4Good Index Series, a global benchmark for ESG practices. Additionally, Forbes ranked KFH as the leading Kuwaiti company and 10th in the Middle East for market value and profitability in its 2024 Top 100 Listed Companies list.

The bank’s A rating from MSCI for ESG performance highlights its role as a sustainability leader in the financial sector. By adopting eco-friendly practices and promoting social equity, KFH sets a standard for responsible banking. The inclusion in global sustainability indices strengthens its reputation among environmentally conscious investors.

As the Best Retail Bank in Kuwait (awarded by The Asian Banker) and Bank of the Year – Kuwait (awarded by The Banker), KFH has played a pivotal role in advancing Kuwait’s financial sector. Its efforts in manpower nationalization and local talent development have set a benchmark for private sector contributions to national growth.

KFH’s contributions extend beyond banking. Through partnerships with government agencies and private organizations, the bank supports initiatives that drive economic diversification and innovation in Kuwait. Its focus on empowering SMEs and fostering entrepreneurship aligns with Kuwait’s vision for sustainable economic development.

KFH’s international operations, including KFH-Turkey and other subsidiaries, have strengthened its global presence. These entities contribute to the bank’s overall success, with achievements such as the Best Islamic Financial Institution in Turkey award reflecting their regional impact.

KFH-Turkey’s digital initiatives, including the launch of AI-powered customer service tools, have set new standards in the Turkish market. Meanwhile, KFH’s subsidiaries in Bahrain and Malaysia continue to deliver robust financial solutions tailored to local markets.

Abdulwahab Iesa Al Rushood emphasized that these awards serve as both an acknowledgment and a motivation to continue innovating. As KFH embarks on 2025, it remains committed to delivering cutting-edge services, meeting customer needs, and driving sustainable growth.

Through its 47 prestigious awards in 2024, KFH has not only redefined excellence in Islamic banking but also set a global standard for innovation, customer service, and corporate responsibility. With a strong foundation and a clear vision, KFH is poised to achieve even greater milestones in the years to come.