Ahli United Bank se­lected as sec­ond safest Is­lamic bank in Kuwait in 2016

Kuwait Times - - BUSINESS -

Ahli United Bank Kuwait has been se­lected as the “Sec­ond Safest Is­lamic Bank in Kuwait 2016”, and the fourth across the GCC. The Bank’s re­cent award was an­nounced for the sec­ond con­sec­u­tive year by Global Finance mag­a­zine, one of the world’s most in­flu­en­tial fi­nan­cial pub­li­ca­tions. Richard Groves, the Bank’s Chief Ex­ec­u­tive Of­fi­cer said, “This is an award of which we can feel jus­ti­fi­ably proud, espe­cially as the se­lec­tion for the award was com­pleted af­ter a thor­ough and com­pre­hen­sive anal­y­sis process around the bank­ing sec­tor’s sta­bil­ity in the re­gion. AUB’s achieve­ment is a tes­ta­ment to its con­tin­ued success as a lead­ing in­no­va­tive Sharia-com­pli­ant bank op­er­at­ing with in­ter­na­tional stan­dards. This has also been re­cently demon­strated by our suc­cess­ful cap­i­tal rais­ing through a Per­pet­ual Ad­di­tional Tier 1 $200 mil­lion Sukuk, which was more than three times over­sub­scribed by in­vestors from the GCC, Europe and Asia.

AUB has also been awarded the “Is­lamic Bank of the Year 2016 for Kuwait” award from the in­ter­na­tional mag­a­zine The Banker for the fourth con­sec­u­tive year. Groves added, “Re­ceiv­ing this award is a re­flec­tion of AUB’s con­tin­ued de­vel­op­ment in a num­ber of ar­eas and mir­rors the Bank’s renowned rep­u­ta­tion. The con­tin­ued success that AUB demon­strates out­lines the Bank’s man­age­ment’s commitment to drive and fa­cil­i­tate our up-to-date and in­no­va­tive Sharia-com­plaint bank­ing ser­vices to a large cus­tomer base. The Bank of­fers its ser­vices through a net­work of 38 branches across Kuwait.”.

Groves ex­pressed his grat­i­tude to the Bank’s cus­tomers, where their trust and loy­alty have con­trib­uted to AUB’s strength. More­over, the commitment of staff and em­ploy­ees has also been at the core of the Bank’s success. Global Finance is a lead­ing pub­li­ca­tion that cov­ers in­ter­na­tional fi­nan­cial news across 192 coun­ties. The mag­a­zine is­sues the “Safest Banks” re­port an­nu­ally, which is based on eval­u­a­tions and spe­cial stan­dards that per­mits banks to be el­i­gi­ble for this list. This in­cludes strong long term credit rat­ings from Moody’s, Stan­dard & Poor’s, as well as Fitch.

It also in­cludes as­sets of 500 banks across the Emerg­ing Mar­kets, and their abil­ity to play a lead­ing role in driv­ing economic de­vel­op­ment in the re­gions they op­er­ate within, in ad­di­tion to ap­ply­ing safety mea­sures, an im­por­tant prac­tice in the bank­ing in­dus­try that cre­ates a strong trust and sat­is­fac­tion chan­nel with cus­tomers. These mea­sures are then re­flected pos­i­tively on the bank’s var­ied ac­tiv­i­ties.

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