KFH-Turkey wins Turkey’s sukuk issuer award 2016 TSPB organizes ‘Capital Markets Awards’ event
Turkish Capital Markets Association (TSPB) has this year nominated Kuwait Finance House-Turkey (KFH-Turkey) for its contribution to the market at its award ceremony where the companies adding value to capital markets each year.
KFH-Turkey issued Tier-II sukuk of $350 million in February, domestic lease certificate of 300 million Turkish Liras in May and international sukuk of $500 million in October this year holding its title of being the largest sukuk issuer in Turkey.
Expressing their pleasure that they have contributed to the Turkish economy with the highestamount “sukuk” issues performed by the private sector and that they have been deemed worthy of that award, Ufuk Uyan, CEO of KFH-Turkey stated that they were pleased with the demand for the sukuk issuance and regional diversity of the demand. Emphasizing that the sukuk issuance was the indication of international investors’ confidence in KFH-Turkey, Uyan said, “this reveals their KFHTurkey and their appetite for taking the mediumlong term risk of KFH-Turkey and Turkey. In this respect, we are very pleased that we bring in new resources to our country. It is seen that our issuance will serve as a benchmark for other overseas issues to take place in Turkey. As a matter of fact, when all the issues of other banks in 2016 are compared, this is the most successful issue in terms of the demand level and the cost. Ongoing development and improvement of investment banking and confidence of sukuk investors in the sector and our country as well as the strong equity structure and quality asset structure of KFH-Turkey have become influential in successful closing of this issue”.
KFH-Turkey had issued 20 sukuk issuance of around 1 million 400 thousand TL and lease certificate of 200 million TL with a tenor of 179 days in 2015 to the eligible investors in the country as well as in terms of initial public offering which is the highest-amount lease certificate issuance made so far by the private sector in Turkey. So far, KFHTurkey has issued lease certificates of a total of TL 9,8 billion in domestic and overseas markets in different currencies such as US dollar, Ringgit Malaysia and Turkish Lira, and 5,6 billion TL is currently circulated in various markets.
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic products and services, not to mention a high standard of innovation and client service.
KFH manages its operations in the GCC, Asia, and Europe through over 446 branches, including KFH-Turkey, in order to offer services for the bank’s clients in Turkey, Malaysia, Saudi Arabia, Bahrain, Germany, Jordan, and Dubai. KFH’s mission is to achieve highest levels of excellence and innovation in the field of client service, while developing common interest for all those concerned with the financial institution. KFH’s vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.
KFH’s values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation and in client service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.
President Recep Tayyip Erdogan handed the award to Ufuk Uyan.