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Kuwait, 30 July 2009 - Kuwait Finance House (KFH), one of the world’s largest Islamic banks, recently received The Most Innovative Islamic Real Estate Financing Award, for its role in developing the Medini Iskandar Malaysia project at the 2009 London Sukuk Summit Islamic Finance Award. The award ceremony was part of the 2009 London Sukuk Summit Forum held at the Radisson Hotel, London earlier this month. The Forum also awarded KFH the Most Innovative Islamic Bank for its creative contributions in offering its clients Islamic products and services exceeding USD4.0 billion (RM14.1 billion).
KFH’s International Real Estate Manager, Ali Al-Ghannam, in a statement said that KFH is committed to play a vital role in the development of real estate projects in the Asia-Pacific region and innovative Islamic financial products. “The Medini Iskandar will link Malaysia to Singapore and pave a way for the integration of business and service activities between the two countries. We foresee the project achieving a total developmental value exceeding USD6 billion (RM21.3 billion) in 15 to 20 years to come,” said Al-Ghannam.
With the vision to become a globally-recognised smart city, Medini Iskandar measures approximately 624 acres and is located on the periphery of the Straits of Johor, facing Singapore. Its strategic positioning targets easy access to major Asian cities and the world’s most rapidly booming economies like India and China, via excellent road, rail, air and sea connectivity. The project incorporates series of quality projects and sustainable digital ecosystems and targeted to provide commercial and office spaces, trade and logistics infrastructures and residential areas.
Apart from that, Al-Ghannam was also proud for KFH for winning the Most Innovative Islamic Bank category for its issuance on the global Sukuk to its international clients. “Our Shariah-compliant alternatives to conventional bonds are uniquely structured to satisfy the needs and requirements of our clients. KFH has successfully orchestrated deals for many companies and Governments in Kuwait as well as abroad including Saxony Anhalt, Germany and Kuwaiti Commercial Real Estate Company. We are able to issue Sukuk, through the establishment of our independent company, Liquidity Management House, where the product is in high demand in the Middle East, as well as the rest of the world,” he added.
On a similar achievement recently, KFH was also conferred the ‘Most Trusted Bank’ Award in The World Finance Awards 2009 last month. The Award is a recognition for organisations that set the benchmark for qualitative achievements and best practices in the financial world. It was also a significant accomplishment for KFH to have won this award, as it acknowledges the Bank’s contribution to the local and global Islamic finance industry, as well as its commitment, honesty, integrity and level of professionalism, all of which have underscored its success over the past three decades.
KFH’s International Real Estate Manager, Ali Al-Ghannam, in a statement said that KFH is committed to play a vital role in the development of real estate projects in the Asia-Pacific region and innovative Islamic financial products. “The Medini Iskandar will link Malaysia to Singapore and pave a way for the integration of business and service activities between the two countries. We foresee the project achieving a total developmental value exceeding USD6 billion (RM21.3 billion) in 15 to 20 years to come,” said Al-Ghannam.
With the vision to become a globally-recognised smart city, Medini Iskandar measures approximately 624 acres and is located on the periphery of the Straits of Johor, facing Singapore. Its strategic positioning targets easy access to major Asian cities and the world’s most rapidly booming economies like India and China, via excellent road, rail, air and sea connectivity. The project incorporates series of quality projects and sustainable digital ecosystems and targeted to provide commercial and office spaces, trade and logistics infrastructures and residential areas.
Apart from that, Al-Ghannam was also proud for KFH for winning the Most Innovative Islamic Bank category for its issuance on the global Sukuk to its international clients. “Our Shariah-compliant alternatives to conventional bonds are uniquely structured to satisfy the needs and requirements of our clients. KFH has successfully orchestrated deals for many companies and Governments in Kuwait as well as abroad including Saxony Anhalt, Germany and Kuwaiti Commercial Real Estate Company. We are able to issue Sukuk, through the establishment of our independent company, Liquidity Management House, where the product is in high demand in the Middle East, as well as the rest of the world,” he added.
On a similar achievement recently, KFH was also conferred the ‘Most Trusted Bank’ Award in The World Finance Awards 2009 last month. The Award is a recognition for organisations that set the benchmark for qualitative achievements and best practices in the financial world. It was also a significant accomplishment for KFH to have won this award, as it acknowledges the Bank’s contribution to the local and global Islamic finance industry, as well as its commitment, honesty, integrity and level of professionalism, all of which have underscored its success over the past three decades.
