Kuala Lumpur, Malaysia, 11 January 2007. Kuwait Finance House and its wholly-owned subsidiary, Kuwait Finance House (Malaysia) Berhad has started the year on a high note, with wins in four categories of the Islamic Finance News Awards ¿ Best Banks Poll 2006.
Launched in June 2004, Islamic Finance News, is the industry's leading capital markets focused e-newsletter providing over 15,000 individuals with unrivalled editorial coverage of the global Islamic financing market. Industry professionals and leading academics contribute via non-biased, educational and up-to-date country and sector reports, giving a first hand knowledge and understanding of the Islamic finance markets and instruments from an experts' point of view.
Rounding off an exceptional year, Kuwait Finance House was voted the second Worlds' Best Islamic Bank in the industry's leading and most comprehensive annual poll in which a record total of 1,232 votes were cast in the 31 contested categories in the Islamic Finance news 2006 Best Islamic Banks Poll. The bank also won country honours in Malaysia and Kuwait as Best Islamic Bank in these respective countries.
Malaysia's first foreign Islamic Bank, Kuwait Finance House (Malaysia) Berhad was simultaneously voted Best New Islamic Bank and the second Most Innovative Islamic Bank, whilst Managing Director of the Kuwait Finance House (Malaysia) Berhad, Mr K. Salman Younis, capped off the honours when he was voted Best Individual in Islamic Finance.
All these awards have been based on the strong track record of Kuwait Finance House which has been operating for almost 30 years. Kuwait Finance House is one of the largest Islamic banking institutions in the world with its diversified range of products and services, covering full-scale corporate and investment banking, commercial banking, retail banking, asset management and direct investments in the fields of aviation, shipping, healthcare, education, oil and gas, halal food, agriculture, automotive, construction, real estate development, IT, Takaful and many others.
"On behalf of Kuwait Finance House, we thank the All-Mighty and all our customers for their trust and confidence in us and all the people who have voted for us. I am also proud that our Managing Director of Kuwait Finance House (Malaysia) Berhad, Mr. K. Salman Younis has won the Best Individual in Islamic Finance award. These great achievements is testament of the hard work and commitment of all our employees, and the support rendered by our customers," said Mr. Mohammed Sulaiman Al-Omar, General Manager and Chief Executive Officer of Kuwait Finance House, Kuwait.
"We convey our sincere gratitude to the Malaysian Government, regulators, customers, and the employees in helping us achieve these accolades. Since the operations of Kuwait Finance House (Malaysia) Berhad on 8 August 2005, we have introduced many innovative business solutions to meet our customers' requirements. The above awards recognise the milestones that Kuwait Finance House (Malaysia) Berhad has achieved within such a short span of time. We intend to act as a catalyst in our efforts to position Malaysia as a centre of excellence for Islamic banking," added Mr. Jassar Al- Jassar, Chairman of Kuwait Finance House (Malaysia) Berhad.
Kuwait Finance House had also recently been accorded the "Most Outstanding Islamic Bank" during the Kuala Lumpur International Finance Forum (KLIFF 2006) held in Kuala Lumpur on 27 November 2006. The award is in recognition of sustained and continuous commitment by the bank, to the development of the Islamic banking industry and attaining the best market standards in the areas of risk compliance, and systems among others.
"Kuwait Finance House is committed to offer a new range of products and services in Malaysia and in the region. We will continue to work closely with all business segments, not only to serve their financial needs, but also in helping to bring foreign direct investments into Malaysia and this part of the world. By contributing further to the initiatives of the Malaysian Government we hope to realize the country's aspirations to make Malaysia the Islamic banking hub in the region. A special thank you to Bank Negara Malaysia, Securities Commission, our customers, and employees for these wonderful achievements," said Mr K. Salman Younis, Managing Director of Kuwait Finance House (Malaysia) Berhad.
Islamic finance issuers, investors, non-banking financial intermediaries and Government bodies from around the world were invited to participate in the poll. Voting took place during December and participants were requested to take only 2006 into consideration when casting their views.
Bank Negara Malaysia was again comprehensively voted as the Best Central Bank in Islamic Finance claiming more than half the registered votes in that category.