IslamicFinance.de

Kuwait Finance House (KFH Malaysia) has appointed Datuk Seri Abdul Hamidy Abdul Hafiz as its CEO effective today.
Datuk Jamelah Jamaluddin, who has helmed the bank since 2010 as the CEO, would now assume the role of managing director of Kuwait Finance House (Labuan). The changes were part of the group's overall strategy to restructure its business, strengthen its presence in the Asia-Pacific region by focusing on investment banking and fee-based income. Hamidy will grow KFH Malaysia's banking business and fund-based activities, Jamelah will drive the region's capital market, investment banking and fee-based activities for the group.

Kuwait Finance House (KFH) is mulling over a restructuring exercise that will entail a change of chief executive and the creation of a separate investment banking division. KFH's existing chief executive officer (CEO) Datuk Jamelah Jamaluddin had reportedly been chosen to head this new investment banking subsidiary. Datuk Seri Abdul Hamidy Abdul Hafiz, the chairman of Danajamin Nasional and Credit Guarantee Corp, is a likely replacement as KFH's CEO. KFH is seeking approval from the authorities for these changes, which it intends to bring about soon.

KFH Malaysia has made a calling for better awareness among customers on the topic of Islamic banking. Customers should know that Islamic bank is an alternative financial approach but also that, in some aspects, it has better value propositions. The Islamic finance industry has been functioning for 30 years already. With over 300 Islamic financial institutions worldwide in 75 countries, it is a fast growing financial branch where 100 largest Islamic banks register an annual asset growth rate of 26.7%.

Read more on: http://www.theborneopost.com/2012/10/27/islamic-banking-provides-better-...