KIB aims at becoming the Islamic bank of choice in Kuwait: Sheikh Jarrah

Sheikh Mohammad Jarrah Al-Sabah

KUWAIT: For the fourth consecutive year and in recognition of its commitment to providing exceptional Islamic banking services, KIB received the ‘Best Sharia-compliant Bank in MENA’ award by Capital Finance International (CFI.co); an organization specializing in the finance and banking sectors.

KIB received this award based on the result of a judging panel, which included a group of professional editors. Accordingly, the Bank was chosen for its outstanding performance in the Islamic banking sector, continued growth trajectory, strong financial position, as well as its commitment to complying with Islamic finance practices and principles. The Bank was judged against several key criteria, namely financial performance, risk management, corporate governance, customer service, innovation, corporate social responsibility, market leadership, transparency, response to market demands, and strength of nominations.

On this occasion, Chairman of KIB, Sheikh Mohammad Jarrah Al-Sabah congratulated KIB staff for winning this prestigious award, saying: “KIB is revamping older business models to provide for more modern, sophisticated sharia-compliant banking services. As always, the Bank continues to harness its decades-long expertise to meet the diverse needs of the local market through its comprehensive suite of sharia-compliant banking offerings.”

Al-Jarrah also pointed out that KIB aims at becoming the Islamic bank of choice in Kuwait by implementing three main pillars: improving customer service by focusing on technology and enhancing digital services, expanding services for corporate banking and SMEs, as well as enriching its experience by continuing to provide comprehensive real estate services to customers.

It is worth noting that CFI.co, one of the most prominent organizations in London, is an independent global evaluating body specialized in the banking and finance sectors. The organization holds some of the most important events across the globe, dedicated to honoring individuals and institutions that have showcased the highest standards of innovation and excellence in the global financial sector. Additionally, CFI.co sheds light on leading institutions in specialized fields that have demonstrated remarkable performance amidst challenges facing the financial sector.