Fahad Al-Mukhaizeem- KFH committed to spreading Islamic financial method

He added that such projects combined between Shariah and profit.

It is worth noting that Equate project for petrochemicals is an excellent example of combining Shariah with profit, since it was the first time that Islamic finance was merged with traditional finance, without compromising the principles that each system is based on.

KFH financed the Islamic part of the project by $200m, while other Kuwaiti and global banks took part in the project that had total investments that reached $1.6bn. Equate project paved the way for Islamic banks to play a significant role in major developmental projects around the world.

Moreover, Dr. Ali added in a press release after visiting KFH and meeting its employees, that the IFP was established in this prestigious university to cement the importance of Islamic transactions around the world, since KFH was the first to create an investment fund that distributes its returns for short periods of time that vary from every three months to every month.

KFH also took the lead by participating in developmental projects, such as communications, infrastructures, power projects, sukuk, establishing investment funds and portfolios, reinforcing Ijarah, and other accomplishments.

Furthermore, Dr. Ali applauded KFH's support and interest in the IFP in Harvard, which shows KFH's appreciation to academic researches.

He went on to add that the university will hold this year the 9th Islamic Finance Forum, where KFH is expected to participate in it by demonstrating the role played by Islamic finance in the development of the society, in addition to discussing other religions and prohibiting usury.

Meanwhile, the Head of Strategic Planning, Public Relations and Marketing Departments at KFH Eng. Fahad Al-Mukhaizeem stressed the importance of the efforts exerted by KFH to develop and strengthen its relationship with Harvard on all levels and forms, especially that KFH had sent six employees on a training course with the elite bankers of the world, in addition to participating in most events and forums organized by the IFP in Harvard.

He went on to note the importance of cooperation among Islamic financial institutions to reinforce academic research, in order to have new visions that meet the new variables around the world. Al-Mukhaizeem announced that KFH established a research company called KFH Research in Malaysia, in order to support the research field in the Islamic financing institutions.