Turkish finmin applauds KFH-Turkey’s expansions
KUWAIT CITY, April 6: Chief Executive Officer at Kuwait Finance House (KFH), Mazin Saad Al-Nahedh and Turkish Minister of Finance, Mehmet Simsek held a meeting on the sideline of the Turkish-Arab Economic Forum. They discussed investment opportunities, the success story of Kuwait Finance House Turkey (KFH-Turkey), and the economic developments in the region.
Simsek affirmed, during the meeting that was attended by KFHTurkey CEO Ufuk Uyan, the key role KFH plays in Turkish economic growth. He applauded the future positive outlook of the bank in light of obtaining the license to operate sharia-compliant bank in Germany. This reinforces Turkish-German relations, serves the Turkish nationals in Germany and renders sharia compliant financial products and services that open new horizons for Islamic banking in Europe.
Meanwhile, Al-Nahedh said that KFH attaches great interest in the Turkish market. KFH strengthens ties between Kuwait, Turkey and the GCC through the significant role of KFHTurkey at various levels to achieve the strategic goal of reinforcing economic and commercial relationships with the GCC countries.
Al-Nahedh added that KFH-Turkey will endeavor to develop the performance of the Turkish market and the other markets it operates in through its banks in Bahrain, Dubai in addition to the bank that will operate in Germany. KFH will continue in offering financing instruments that meet corporate needs in turkey, especially the instruments that achieved great success in the last period such as Sukuk. KFHTurkey’s issuance of sukuk accounted for around $2 billion. These sukuk included sovereign sukuk and sukuk for companies. Such a product caters for the economic growth Turkey witnesses.
In conclusion of the first day of the TAF forum, Al-Nahedh honored Semsek and presented him a commemorative gift in presence of a number of Turkish dignitaries and the forum participants.
The forum attracted 500 participations who discussed ways of tapping investment opportunities, the latest economic development in the region and the importance of boosting economic ties between the countries. The forum also tackled economic challenges, and Islamic banking, in addition to ways of improving cooperation in several sectors and areas, such as real estate, construction, energy, Islamic banking, agriculture and tourism.