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Friday, 15 August 2008

Delegates from 'KFH' transfer the Islamic banking experience to Spain

Investment and Public Relations delegates from Kuwait Finance House 'KFH' visited the city of Barcelona Spain as a response to an invitation from business men, bankers and economists, explaining the Islamic banking experience, its growth, and the challenges it faced.

They also showcased the most important products and services, their unique features and the role it can play for the future. The delegates sensed interest from the invitees to know about the nature of Islamic banking and its processes.

The Manager of the Marketing and Public Relations Department and Acting Manager of Strategic Planning Department Eng. Fahad Al Mukhaizeem who was one of the delegates said:

'This visit is an answer to a request from important Spanish bankers and economists wanting to know about Islamic banking up close through KFH's experience and vision as the leader in this industry. The visit was fruitful in explaining and achieving the goal of defining Islamic Finance, its nature and its uniqueness. The role of Islamic banking in the development of society by financing large-scale projects and supporting the national economy was discussed as well.'

Al Mukhaizeem also mentioned that the delegates including Anwar Al-Yahya from international real estate department and Salah Al-deen Ahmed fro direct investment department enjoyed the opinions and suggestions of the Spanish businessmen, bankers, and economists. The group of attending professionals were impressed by the success and expansion of Islamic Finance. They highlighted the fact that such achievements are highly recognized due to the changing role that it had played lately as one of the main ingredients in the global economy. Islamic finance is providing an alternative tool to investors in both the Islamic and non- Islamic markets, opening new doors for job opportunities and providing a wider selection of new projects.

Al Mukhaizeem added that the delegates showcased practical examples of how the Islamic products are able to meet the financial needs of customers, corporates, and society in general through a selection of forms and contracts that satisfy all types of requirements. These include large scale and development projects. In addition it was noted that many regulations governing Islamic finance will be a buffer against crises associated with traditional finance.

Al mukhaizeem also pointed that 'KFH' will be expanding its international presence and with the grace of God, Islamic finance will continue to be recognized both by the business world and by the major academic institutions and international associations and federations all over the world.

(Source: AMEInfo)

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