Shah Alam, May 29, 2007. Kuwait Finance House (Malaysia) Berhad opened the doors to its second branch in Malaysia outside Kuala Lumpur¿ in Shah Alam. The Guest of Honor, H.E. Bader Mishari Al- Humaithi, Finance Minister of the State of Kuwait, officiated the inauguration ceremony, witnessed by a hundred corporate guests and government senior representatives. Present at the Official Opening were Y.Bhg. Dato Mohd Razif Abdul Kadir, Deputy Governor, Bank Negara Malaysia, H.E. Mr Falah Fahad Al Hajri, Minister of Industries, State of Kuwait, Mr Bader Mohammad Al Saad, Director General of Kuwait Investment Authority, as well as Ambassadors and officials from the Diplomatic Corps. The ceremony took place at Wisma Sunway Mas, in Shah Alam, which is also the location of the second KFH branch in Malaysia.
Kuwait Finance House (KFH) is one of the largest Islamic banks in the world with products and services ranging from corporate and investment banking, commercial banking, retail banking, asset management and direct investments in the field of aviation, shipping, healthcare, education, oil and gas, halal food, agriculture, automotive, construction, real estate development, IT, takaful and many others.
The Shah Alam Branch will provide convenient access to Islamic banking products and services, as well as facilitate in increasing the awareness of Islamic banking within the community at large. This branch is one of the many KFH plans to launch in the upcoming months. By doing so KFH aims to make Malaysia its regional hub. To this end, Mr. K.Salman Younis, Managing Director of Kuwait Finance House (Malaysia) Berhad commented, "Kuwait Finance House is indeed happy to expand its operations in Malaysia. With our presence in Shah Alam, we are now able to increase our reach across all market sectors outside Kuala Lumpur, " he added by saying, "With our presence, it is our hope that we will continue to play a key role to act as an intermediary for businesses from the Gulf Cooperation Council (GCC) countries and Malaysia, as well as the region. Kuwait Finance House will be the conduit not only for Foreign Direct Investments, but also a two-way vehicle for trade into Malaysia."
While Mr. K. Salman Younis, emphasised on KFHMB's expansion plans, H.E. Bader M. Al- Humaithi, Finance Minister of Kuwait stressed upon the role KFH has played in enhancing the link between the Middle East and Malaysia. The Finance Minister of Kuwait said that the role KFH is playing in building bridges will promote greater economic integration and encourage deeper intermediation of Islamic markets. He added by saying that foreign Islamic banks from the Middle East, like Kuwait Finance House, will definitely benefit the consumers and companies in Malaysia, by introducing innovative products and services.