Ahmed Al-Khaled, AGM of Commercial Sector at Kuwait Finance House (KFH) has said that its expenditure in the local market during the First Half of this year reached more than KD200 million.
He went on to explain that consumer finance cannot be isolated from the effects of the crisis, since it is a financial service that is linked to the business of commercial markets, companies, and productive sectors. Banks and financial corporations in Kuwait played a prominent role in negating the profound effects of the crisis.
He said that KFH launched a marketing campaign for Murabaha that includes all the products of the commercial sector, in order to familiarize the clients and the Kuwaiti society with its products. This is likely to lead to attracting more clients, thus increasing KFH’s market share and cementing Murabaha as a financing tool that can meet various client requirements.
However, he added that the market requires support by increasing its number of dealers. He also stressed the importance of abiding by Shariah, which is KFH’s identity, so KFH cannot launch any product or service without receiving the approval of the Fatwa and Shariah Board at KFH.
