Kuwait Finance House began our journey in Kuwait to provide Islamic banking products and services based on a Waqf or social endowment. Today, we are listed on the Kuwaiti bourse and have grown to become the world’s second largest Islamic bank by assets with presence in Turkey, UAE, Bahrain, Germany and Malaysia.
The key to our success is in delivering superior customer experience by continuously innovating our products, service delivery and offerings. Being customer focused means having a deep understanding of customer needs as well as the relevant business and operating environment.
In 2005, we opened our doors in Malaysia, becoming the first full-fledged foreign Islamic bank to operate in one of the world’s largest Islamic banking markets. In a market with a dual financial system co-existing, differentiation is key. We became the first Islamic bank to offer home financing based on diminishing partnership, allowing customers the flexibility to re-draw their facility depending on their financial needs. In recent years, KFH as a group has embarked on a digital transformation journey.
Kuwait and Bahrain have each launched their respective digital banking platforms and soon, Malaysia will have our own. By the end of 2018, the first among many exciting phases of seamless digital customer experience is expected to be publicly available. To compliment the experience, four key attributes under the bank’s “Creating Footsteps” initiative will form our core focus.
First, is to enhance our role in the marketplace, encouraging innovation across products, services and our delivery channels. Second, is to enhance and define our role in the communities that we operate in, looking for new ways and means to contribute more to the community which transcends beyond CSR initiatives. Third, care for the environment. Beyond going green, this includes ensuring efficient transportation, affordable housing and growth in a sustainable and inclusive manner. Another area which KFH Malaysia intends to enhance and intensify its presence is in renewable and sustainable energy. We support clients involved in integrated renewable energy, green technology and environmental engineering solutions.
In the construction sector, affordable housing is also given focus and efforts are underway in developing innovative financing structures, which enable homes to be more affordable. Another initiative is supporting developments which inculcate sustainability, preservation of biodiversity and the surrounding natural ecosystem.
At the core of all these initiatives are the Shari’ah values of preserving the environment, supporting the community and working together to do our respective part for the common objective of leaving the world a better place.
Source CPI Financial