Al-Ghaith meets with European Parliament delegation

KUWAIT CITY, March 29

Acting Chief Executive Officer at Kuwait Finance House (KFH), Anwar Bader Al Ghaith, stressed the importance of Islamic banking locally and globally as it is one of the significant choices for future economic development. He added that many conventional banks be it regional or global are seeking financial alternatives abide by sharia principles, moreover, several of them have transformed to operate as per sharia or acquired sharia compliant banks. He emphasized KFH's role in leading the Islamic banking worldwide where KFH has become a model example being taught in the most prestigious universities in terms of its expansions, volume of products and services it provides, not to mention the subsidiaries and the pioneering position among banks that operate as per sharia.

Al-Ghaith added, in his meeting with a delegation of the European Parliament held at KFH's headquarters in the presence of Strategy and Corporate Affairs General Manager Fahad Al-Mukhaizeem that KFH managed to prove its continuous success as the leading Islamic bank. Furthermore, it proved that Islamic banking is considered as more feasible and sustainable in future. He went on to say that Islamic banks' goals are not only to invest and post profits, but also to achieve the comprehensive development and boost the economy by assuming the social responsibility.

He shared that Islamic banking can solidly face challenges and obstacles as it is resilient and can adapt easily to the market developments. He highlighted the role of the Group banks in achieving positive results in spite of the unfavorable circumstances in some region. The good results are due to the plotted strategies, policies and sharia principles. He said that KFH is always keen to innovating new products and services in addition to seizing overseas investment opportunities to maintain the leading status of the bank. Al-Ghaith affirmed that KFH is committed to assuming the social responsibility as it is part of sharia provisions that the bank operates according to. He explained that KFH is the first Islamic bank that released a CSR report which enhances the role the bank plays in all social fields; environment, health, sports and education.

© Arab Times 2014