Kuwait Finance House

Kuwait Finance House

Type	Public
Industry	Banking
Founded	1977 (1977)
Founders	Consortium of Kuwaiti merchants
Headquarters	Kuwait City, Kuwait - Group Headquarters
Key people	Hamad Abdulmohsen Al-Marzook, Chairman Anwar Al Ghaith, Acting CEO
Revenue	KD 996 million KWD (2013)
Net income	KD 116 million KWD (2013)
Number of employees	8,000+
Website	www.kfh.com

Kuwait Finance House (Arabic: بيت التمويل الكويتي‎)(KFH) was established in the State of Kuwait, in 1977, as the first bank operating in accordance with the Islamic Shari'a. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of KWD 2.667 billion as of 31 December 2008. Assets total KWD 11.291 billion and deposits amount to KWD 7.262 billion. It has been awarded Best Islamic Bank in the world from CPI Financial institution for the year 2014.^[1]

KFH provides Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services.

Since the 1980s, KFH has witnessed multi-activity in international expansion. It has established independent banks in Turkey, Bahrain, and Malaysia. Moreover, it has stakes in other Islamic banks. Its investment activities in the US, Europe, South East Asia and the Middle East contributed to achieving the growing profit of KFH.

KFH has always endeavored to expand its local branch network, covering 52 branches, in addition to special sections for ladies. It adopts the out-of-branch client concept. KFH has maintained its foothold as a pioneering entity in utilizing the latest technologies to meet the requirements of the various activities in which it operates, using online, SMS, as well as phone service (Allo Baitak), which has received the highest accreditation from the US Purdue University for outstanding customer service level.

Subsidiaries

According to the KFH website, until December 2008, KFH ran the following subsidiaries:

Kuwait Finance House (Malaysia) Berhad - Malaysia
KFH Private Equity Ltd. - Cayman Islands
Al Muthana Investment Company K.S.C. (Closed) - Kuwait
Al-Nakheel United Real Estate Company K.S.C. (Closed) - Kuwait
Development Enterprises Holding K.S.C (Closed)- Kuwait
Baitek Real Estate Company - Saudi Arabia
Kuwait Finance House (Bahrain) B.S.C. (c) - Bahrain
Kuwait Turkish Evkaf Finance House - Turkey
Aref Investment Group K.S.C. (Closed) - Kuwait
ALAFCO – Aviation Lease and Finance Company K.S.C. (Closed) - Kuwait
Al Enma’a Real Estate Company K.S.C. (Closed) - Kuwait
Liquidity Management House Company K.S.C. (Closed) - Kuwait
KFH-La Constitución (upcoming) - Ecuador

Investment In Associates

First Takaful Insurance Company K.S.C. (Closed) - Kuwait
Gulf Investment House K.S.C. (Closed) - Kuwait
Liquidity Management Centre Company B.S.C. (Closed) - Bahrain
Sharjah Islamic Bank - United Arab Emirates
A’ayan Leasing & Investment Company K.S.C. (Closed) - Kuwait
Munshaat Real Estate Projects Company K.S.C. (Closed) - Kuwait
Sukuk Real Estate Development Company K.S.C. (Closed) - Kuwait

Ownership Of Kuwait Finance House

24.05% - Kuwait Investment Authority
10.48% - Public Authority for Minors Affairs - Kuwait
8.23% - Kuwait Awqaf Public Foundation - Kuwait