KFH-Tur­key wins Tur­key’s sukuk is­suer award 2016 TSPB or­ga­nizes ‘Cap­i­tal Mar­kets Awards’ event

Kuwait Times - - BUSINESS -

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.

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