Kuala Lumpur, 5 May 2008 ¿ Kuwait Finance House (Malaysia) Berhad (KFHMB) is pleased to announce that its wholly-owned subsidiary, Kuwait Finance House (Singapore) Pte Ltd (KFHS) has submitted a notice, on 18 March 2008, to (and has received acknowledgement from) the Monetary Authority of Singapore (MAS) in regards to the commencement of its fund management activities.

Mr Shaheen Alghanem, Chairman of KFHMB said, "With over 30 years of experience, Kuwait Finance House is pleased to expand its operations into this region, beginning with the establishment of the Malaysian operations in 2005. The establishment of KFH operations in Singapore is testament of our commitment in the Asia-Pacific region. Our sincere gratitude to the Government of Singapore, a renowned financial centre globally, in promoting Islamic finance and supporting KFH."

The Chairman's contentment at the progress of KFHMB since its inception and latest set-up in Singapore is echoed by Dato' K. Salman Younis, Managing Director of KFHMB: "Kuwait Finance House is pleased to join the global fund management market that thrives in Singapore. We would like to thank the Government of Singapore for its initiatives to promote Islamic finance and we look forward to contributing to the growth of the industry in Singapore, as well as the rest of the Asia-Pacific region."

KFHS will focus on investment management activities covering the region.