IslamicFinance.de

Kuwait Finance House (KFH) is restructuring activities ahead of a planned divestment by its largest shareholder, the Kuwait Investment Authority (KIA). Last week, KFH said it had hired Credit Suisse to advise on its options, including the potential sale of a Malaysia unit launched in 2005 that serves as a hub for southeast Asia. KFH did not give further details. A shift away from Malaysia, where KFH holds a valuable licence but lacks scale, would help it focus on Kuveyt Turk, the largest Islamic bank in Turkey with over 500 branches. Kuveyt Turk, 62 per cent owned by KFH, is in expansion mode: It plans to launch Germany's first full-fledged Islamic bank in July as a gateway to Europe.