Kuwait Finance House receives the "2008 Islamic Banking Retail Brand Award"

The prestigious award, which recognizes the industry's most outstanding achievements, was presented at the awards ceremony by the Mr. Abdul Rahman Mohammed Al Baker, Executive Director - Financial Institutions Supervision - CBB.

Mr. Khalid Rafea, Executive Manager at KFH-Bahrain received the award on behalf of the bank.

WIBC Awards are among the oldest and most prestigious in the world.

Based on a select criteria and assessed by the MTI Consulting Awards Committee, the 2008 Islamic Banking Retail Brand Award is in recognition of a banking institution that has excelled in key branding initiatives and innovation in product development.

Commenting on this achievement Mr. Abdulhakeem Alkhayyat CEO and Managing Director of KFH-Bahrain said

"We constantly strive to reach the highest levels of quality whether it be the products we offer, the services we provide or the processes and procedures that we follow. Having won this prestigious award, is undoubtedly a testimony of the unwavering commitment of our people to exceed the high standards we believe in."

Mr. Alkhayyat added "Across the globe, Islamic finance is witnessing spectacular growth. There are now more than 300 international financial institutions offering Sharia-compliant products, with more than $1 trillion worth of assets under management. This award is in recognition of the growing footprint of KFH within a highly competitive environment".

KFH demonstrated exemplary financial results for the third quarter of 2008, with a net profit rising to $1.74bn, an increase of 18% over the corresponding period last year.

At the end of the first quarter of this year, the bank's total assets stood at $39.59bn, up 20% from the same period last year.