Mazin Saad Al-Nahedh

KFH is planning #expansion in #China

Kuwait Finance House (KFH) is considering expanding into China and Egypt as the region’s banking sector nears saturation. According to bank's CEO, Mazin Saad al-Nahedh, there are opportunities for a Kuwaiti bank to operate in China. He added that the bank was looking at options to buy a license to operate in Egypt as well. KFH is cautiously optimistic about its operations in Turkey. Its subsidiary Kuveyt Turk contributes 22% to the group’s bottom line as of the end of June. The bank expects credit growth of no less than 20% to 25% over the next three to four years as long as base rates remain where they are. As KFH continues its restructuring and sale of non-core assets, the bank is studying offers for its stake in Aref Investment Group, which it aims to sell by the end of the year. KFH is also planning to buy Bahrain’s Ahli United Bank, but hasn't started negotiations yet.

Kuveyt Turk claims 37 per cent share of #Turkey's participation banking

According to Group CEO Mazin Saad Al-Nahedh, the market share of Kuwait Finance House-Turkey (KFH-Turkey) accounts for 37% of the participation banking in Turkey. The total assets of participation banks as percentage of the total assets of banks in Turkey account for 5-6% and is expected to surge. Growth rates in KFH-Turkey have outpaced the rates in Kuwait, Bahrain and Malaysia. Noting that all Kuwaiti banks were strongly capitalised, Al-Nahedh mentioned that KFH Group’s own capital adequacy ratio surpassed 17% as of end Q1. Commenting on Kuwaiti sovereign debt issuances to Islamic banks, he said that KFH’s share of the debt was 50 per cent, mirroring its market share among Islamic banks in Kuwait.

Kuwait Finance House may sell properties, cut small number of jobs

Kuwait Finance House may auction some of its properties or offer them to be run by other operators, depending on market conditions, its chief executive Mazin Saad al-Nahedh without giving details. He also said KFH planned to cut tens of jobs as part of its restructuring plan, which would eliminate some positions. Some people would be moved to other subsidiaries. KFH said in early May that it was considering a possible sale of its Malaysian unit. That is the only unit earmarked for possible sale because it is outside the Middle East, Nahedh said. The bank is restructuring activities ahead of a planned divestment by its largest shareholder, the Kuwait Investment Authority. A timetable for the divestment has not been announced.

KFH donates KD 6 mln to Zakat House

Zakat House Director General Ibrahim Al-Saleh applauded Kuwait Finance House’s support to Zakat House to execute charitable projects that serve the community. Al-Saleh praised, during receiving a cheque with a value of KD 5,878,129 million from KFH’s Chief Executive Officer, Mazin Saad Al-Nahedh, KFH for collaborating with Zakat House which contributes to accomplish the goal of encouraging charity and the spread of meanings of brotherhood among various segments of the society. It’s worth noting that the donated value will be distributed to help the poor families in Kuwait, to support charity committees and societies working in the field of humanitarian aid and to execute pro bono projects as per the rules and regulations of Zakat House.

Kuwait Finance House: Successful conclusion of USD 350 Mln Syndicated Dual Currency Dual Tranche Murabaha Facility

The deal for Kuwait Turkish Participation Bank (KTPB) was arranged and syndicated in record time and twice oversubscribed. 12 regional and global banks participated. This affirmed the KFH Group the Turkish Economy a strong global position.

KFH appoints Al-Nahedh as new CEO

Kuwait Finance House (KFH) has announced that the newly appointed Chief Executive Officer (CEO), Mazin Saad Al-Nahedh will officially commence his duties as of October 1st 2014 after having obtained the required regulatory approvals. Mazin Al-Nahedh has over 21 years of diversified banking experience and is a graduate of Business Administration (Finance) from the University of California USA. Before holding his position at KFH, Al-Nahedh served as Group General Manager - Treasury, General Manager - Corporate Banking Group, and Retail Banking General Manager at the National Bank of Kuwait (NBK). The appointment is in line with KFH's Board of Directors' directives and strategies towards improving business models, while paving the way for a younger generation of Kuwaiti professionals to hold leading positions at KFH.

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