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Kuala Lumpur, 6 March 2008 ¿ Kuwait Finance House (KFH), a market leader in the Islamic banking industry in Kuwait, and Kuwait Finance House (Malaysia) Berhad (KFHMB) were the biggest winners during the annual Islamic Finance news (IFN) Awards 2007 ceremony this evening. This is the second and final leg of the awards ceremony, with the first held in Dubai on 26 February.
KFH received three awards in the IFN Awards Poll 2007 - Best Overall Islamic Bank, Most Innovative Islamic Bank and Best Islamic Bank in Kuwait. The awards were received by Mr. Abdul Wahab AlRushood, KFH Group Head of Treasury & Board Member of KFHMB and Mr. Nawaf Al Menayekh, Assistant Director, Corporate & Investment Banking, KFHMB. KFH garnered 27% of the 1502 votes cast by members of the global Islamic finance industry, during the polling period last December to win the Best Overall Islamic Bank award.
"The awards confirm that Kuwait Finance House is on the right track in the Islamic banking industry, having been established for 30 years. As the pioneer Islamic bank in Kuwait, we are pleased to note that more and more banks are introducing Shariah-compliant products and services, both in Kuwait and globally. We thank the All-Mighty, as well as all our customers for their trust and confidence in us. On behalf of KFH, we are honoured to receive this recognition, demonstrating the efforts of all KFH employees," said Mr. Mohammed Sulaiman Al-Omar, Group General Manager and Chief Executive Officer for KFH Group.
Meanwhile, KFHMB was the star in the IFN Awards Deals of the Year 2007. The Bank bagged three awards - the Deal of the Year in India for the Syndicated Ijarah facility for SREI Infrastructure Finance Ltd, Trade Finance Deal of the Year for PT Krakatau Steel's international Murabaha syndication and Musharakah Deal of the Year for the KL Sentral Sukuk. The awards were received on behalf of KFHMB by its Board Members Mohamed Ismail Mohamed Shariff, and Khairil Anuar Abdullah, as well as Annis Sheikh Mohamed, Head, Corporate & Investment Banking, KFHMB.
Votes for the IFN Awards Poll undergo a strict screening process, either cast online or faxed to the organiser. Corporates and banks are not allowed to vote for themselves, and only corporate email addresses are accepted. Each vote received by the organiser is acknowledged and confirmed. A record 1,502 submissions were received, 22% higher than those received for the 2006 edition. Following strict due diligence, however, 186 of those votes were eliminated due to irregularities. Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world were invited to participate.
Dato' K Salman Younis, Managing Director of KFHMB said, "I would like to thank all the readers of Islamic Finance news, as well as our clients and partners for having voted KFH and KFHMB. We are proud that KFH is living up to the standards and practices of an Islamic financial institution and growing steadily in all domains."
Mr. Andrew Morgan, Managing Director and Publisher of RedMoney Group Sdn Bhd which is the holding company for Islamic Finance news presented the awards. Influential guests included issuers, investors, non-bank financial institutions and regulators were present to honour the best in the Islamic finance industry globally.
KFH received three awards in the IFN Awards Poll 2007 - Best Overall Islamic Bank, Most Innovative Islamic Bank and Best Islamic Bank in Kuwait. The awards were received by Mr. Abdul Wahab AlRushood, KFH Group Head of Treasury & Board Member of KFHMB and Mr. Nawaf Al Menayekh, Assistant Director, Corporate & Investment Banking, KFHMB. KFH garnered 27% of the 1502 votes cast by members of the global Islamic finance industry, during the polling period last December to win the Best Overall Islamic Bank award.
"The awards confirm that Kuwait Finance House is on the right track in the Islamic banking industry, having been established for 30 years. As the pioneer Islamic bank in Kuwait, we are pleased to note that more and more banks are introducing Shariah-compliant products and services, both in Kuwait and globally. We thank the All-Mighty, as well as all our customers for their trust and confidence in us. On behalf of KFH, we are honoured to receive this recognition, demonstrating the efforts of all KFH employees," said Mr. Mohammed Sulaiman Al-Omar, Group General Manager and Chief Executive Officer for KFH Group.
Meanwhile, KFHMB was the star in the IFN Awards Deals of the Year 2007. The Bank bagged three awards - the Deal of the Year in India for the Syndicated Ijarah facility for SREI Infrastructure Finance Ltd, Trade Finance Deal of the Year for PT Krakatau Steel's international Murabaha syndication and Musharakah Deal of the Year for the KL Sentral Sukuk. The awards were received on behalf of KFHMB by its Board Members Mohamed Ismail Mohamed Shariff, and Khairil Anuar Abdullah, as well as Annis Sheikh Mohamed, Head, Corporate & Investment Banking, KFHMB.
Votes for the IFN Awards Poll undergo a strict screening process, either cast online or faxed to the organiser. Corporates and banks are not allowed to vote for themselves, and only corporate email addresses are accepted. Each vote received by the organiser is acknowledged and confirmed. A record 1,502 submissions were received, 22% higher than those received for the 2006 edition. Following strict due diligence, however, 186 of those votes were eliminated due to irregularities. Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world were invited to participate.
Dato' K Salman Younis, Managing Director of KFHMB said, "I would like to thank all the readers of Islamic Finance news, as well as our clients and partners for having voted KFH and KFHMB. We are proud that KFH is living up to the standards and practices of an Islamic financial institution and growing steadily in all domains."
Mr. Andrew Morgan, Managing Director and Publisher of RedMoney Group Sdn Bhd which is the holding company for Islamic Finance news presented the awards. Influential guests included issuers, investors, non-bank financial institutions and regulators were present to honour the best in the Islamic finance industry globally.
