KFH- Malaysia opens new branch in largest industrial city in Malaysia

The governor of the State of Penang Ossama Abbas attended the ceremony, in addition to 150 governmental officials, reporters, and businessmen.

It is worth noting that Penang is an important state in Malaysia that is known for its industry in many fields, such as electronics. It is also considered to be one of the most important 10 industrial cities in Asia; thus opening a branch there was a top priority for KFHM.

Ossama Abbas expressed his deep appreciation to KFHM decision to select Penang as a platform to launch the bank's services and products in northern Malaysia. He added that opening the branch will provide the people in that state with more opportunities and alternatives in the investment and financing fields, which are areas where KFHM excels. Through these fields, KFHM has managed to attract an increasing share of clients in all areas in which it operated.

On his side, KFHM Chairman Shaheen Al-Ghanem stated that the bank targets all areas in Malaysia, according to an accurate expansion plan, where services will vary from one area to the other, according to the nature and characteristics of every area. Penang was chosen since it is one of the largest industrial cities in Malaysia and Asia.

Furthermore, he added that KFHM is proud to be standing on solid grounds especially that it has been operating for the past 2 years only. In addition to that, KFHM selects its projects and clients carefully, and looks forward to cementing its role in serving and developing the Malaysian society, and strengthening the economic and cultural cooperation among Malaysia and the south and east Asian countries on the one hand, and between Kuwait and the GCC on the other.

He affirmed KFHM participation last month in a series of meetings organized by the Islamic Malaysian Global Financial Center, where investment opportunities, fields of work and facilities were demonstrated in many countries, including Kuwait and Saudi Arabia. The bank also participated in the Islamic Financing Forum that was held in Hong Kong last November.

Al-Ghanem added that Malaysia has attracted investments and funds from Kuwait, the Middle East and the GCC to finance services sector projects that are known for their long-term continuous return with minimum risks. Such projects are a qualitative addition to the market, since they are linked to vital projects that affect day to day life.

KFHM CEO Salman Yunis mentioned during a speech that many contributions and investments of KFHM were done in Penang. The bank participated in real estate and corporate financing projects, and industrial investments. He added that the bank is interested in projects like power, gas, transportation, health, education, real estate development, technology and industry. It also offers facilities and services to its clients, whether individuals or corporations.

Furthermore, he praised the support KFHM received from Penang to open the new branch, which reveals the trust in the bank's abilities and the added value to the Malaysian markets.