Network of Banks in Kuwait

Kuwait Finance House

Kuwait Finance House (KFH) was established in the State of Kuwait in 1977, as the first bank operating in accordance with the Islamic Shari'a. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of KD 3.133 billion as of 31 December 2006. Assets total KD 6.314 billion and deposits amount to KD 3.730 billion, representing 25% of the total deposits in the Kuwaiti market as per the balance sheet of 2006.
KFH has been highly rated by prestigious international agencies. Standard & Poor's rated KFH A-/A2 for short and long term investments, respectively. Capital Intelligence rated KFH A/A1 for short and long term investments, respectively. Fitch International also rated KFH A, and Moody's rating was Aa3. KFH has been awarded by The Banker magazine as the world's Best Islamic Financial Institution, and for third successive year it has been awarded by EuroMoney magazine as the best bank.[citation needed]
KFH provides Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services.
Since the 1980s, KFH has witnessed multi-activity in international expansion. It has established independent banks in Turkey, Bahrain, and Malaysia. Moreover, it has stakes in other Islamic banks. Its investment activities in the US, Europe, South East Asia and the Middle East contributed to achieving the growing profit of KFH, in collaboration with the world's leading companies and banks, such as Citibank, Deutsche Bank JP Morgan, Chase, BNP Parisbas, ABN Amro, HSBC, and Islamic Development Bank (IDB).
KFH has always endeavored to expand its local branch network, covering 42 branches, in addition to special sections for ladies. It adopts the out-of-branch client concept. KFH has maintained its foothold as a pioneering entity in utilizing the latest technologies to meet the requirements of the various activities in which it operates, using online, SMS, as well as phone service (Allo Baitak), which has received the highest accreditation from the US Purdue University for outstanding customer service level.


Kuveyt Turk (Kuwait Finance House-Turkey)

Kuveyt Turk is a Participation Bank established in 1989 to operate in accordance with terms set forth by the Council of Ministers' Decree dated Dec. 16, 1983 and no. 831/7506. Until they become subject to the Banking Law in 1999, activities of Special Finance Houses were conducted by Council of Ministers Decrees on the one hand and by Directives of the Central Bank and the Undersecretariat of Treasury on the other hand. Starting from December 1999, Kuveyt Türk has become subject to the Banking Law no. 4389 just as other Special Finance Houses.
Shareholders of Kuveyt Türk are Kuveyt Finance House (62%), Kuveyt Social Security Institution (9%), Islamic Development Bank (9%), General Directorate of Associations Turkey (18%), and other shareholders (2%).
The Kuveyt Finance House, which is the largest shareholder of Kuveyt Türk with its 62 % share, is a finance institution of Kuveyt.
Kuveyt Türk has been awarded gold, silver and bronze medals on various dates by public institutions and trade associations such as the Undersecretariat of Treasury and Foreign Trade, Istanbul Chamber of Commerce and Istanbul Ready Made Garment Exporters' Association for the success it has shown in the field of exports.[citation needed]
Kuveyt Türk is preparing to open branch and representative offices abroad as well.
Kuveyt Türk has established the information and technology infrastructure required at the highest level. It offers all banking services through Electronic Banking and Alternative Delivery channels. Together with VISA credit card and the Palmiye Installment Shopping Card services, POS and member merchant services, Internet banking, call center, interactive voice response system and SMS banking services are presented continuously.

Kuwait Finance House-Bahrain

Kuwait Finance House-Bahrain is a provider of Islamic commercial and investment banking services. Established in January 2002 as a wholly owned subsidiary of Kuwait Finance House-Kuwait, an industry leader for more than 25 years and with total assets of KD3.915BLN KFH-Bahrain, total assets BD291M, specialises in conceptualising the development and introduction of innovative, sharia’a compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals that are empowered to think innovatively and act strategically.


Kuwait Finance House-Jordan

Kuwait Finance House(Bahrain) (KFH-Bahrain) has plans to establish a US$50 Million Investment Bank in Jordan. The Investment Bank will be a wholly owned subsidiary of KFH-Bahrain and will be called Kuwait Finance House(Jordan) (KFH-Jordan). KFH-Jordan will be part of the global KFH network in Kuwait, Bahrain, Turkey, and Malaysia; giving the proposed Company a large network and access to financial resources that will serve the main purpose of investing in the Jordanian Economy.


Kuwait Finance House-Malaysia

As one of the world’s largest Islamic banks, Kuwait Finance House specialises in Shariah compliant banking and investment products. Businesses covers divisions such as Corporate and Investment, Commercial, as well as Retail banking.
With operations and affiliates in Bahrain, Turkey and the United Arab Emirates, Kuwait Finance House has now landed on Malaysian shores with an official opening by the Honourable Prime Minister YAB Dato' Seri Abdullah Bin Haji Ahmad Badawi on 17 February 2006.