Bader Abdul Mohsen Al-Mukhaizeem, Chairman and Managing Director of Kuwait Finance House (KFH), presented warmest condolences to the Kuwaiti people, both Arab and Islamic nations, for the demise of HH the late Sheikh Jaber Al-ahmad Al-Jaber Al-Sabah, the man of charity and giving. His Highness had a prominent role in the renaissance of Kuwait. During his reign, he constantly supported the Islamic banking, turning Kuwait into the largesgt Islamic financial services development industry, not only on the regional level, but also worldwide. In this context, he recalled His Highness' initiative, promulgating the Law Decree No. 72 of 1977, establishing KFH. He also recalled His Highness' follow-up of KFH's performance and his directives all over the past years. His Highness was keenly desirous to see the national economy operating in full power and components, including Islamic financial transactions, which contributed greatly to the trail of economic and social development in Kuwait. Al-Mukhaizeem announced that KFH has realized a profit of KD 245.3 million for 2005, an increase of KD 97.198 million, or by 66%, including profit for investor depositors of KD 122.591, distributable as follows: 6.8075 for unconditional investment deposits, 5.294% for Al-Sidra Deposit, and 4.538% for Investment Savings Accounts. Net shareholders' profit amounted to KD 118.687 million, thus pushing the Rate of Return on Capital (ROC) higher to 109%, i.e. the equivalent of 109 Fils per share, compared to 87Fils for the past year, assuming capital increase since the beginning of the year. Upon approval of the general assembly and competent authorities, the Board of Directors recommended cash dividends to shareholders of 55%, compared to 50% last year, and bonus shares of 12%, compared to 10% for last year. Assets in the balance sheet rose to KD 4.681 billion, an increase of KD 1.223, or by 35% over last year. Deposits also rose to KD 3.189 billion, an increase of KD 626.159 million, or by 24%, over last year. Shareholders' equity amounted to KD 540.042 million, registering an increase of KD 253.174 million, or by 88%, compared to last year. In a press release on the occasion of declaring the profit, he stated: "The financial indicators came within the context of the ongoing growth of KFH's performance in all activities, in a manner confirming the success of investment in excellent assets of increasing value, while conducting careful, objective studies of the risks and ways of mitigating them. Parallel to these studies, flexibility in seizing the opportunities and moving in the markets to maximize profit are among the tools leading to our success. Furthermore, our profits reflect the success of our action plans set by the management and implemented by all employees." He stressed the importance of combined efforts to maintain the high pace of growth since KFH's inception. "The year 2005 was characterized by continuing KFH's trail, where numerous achievements were realized in the various areas, with excellent levels that enhanced its pioneering position and moved the level of performance and services into new horizons. Thus, outstanding benefits were achieved equally for the interest of customers and investors. Such benefits also contributed to coping with the growing demand for KFH's products and services." He added. "On the level of harvesting rating certificates from the world's major rating agencies, KFH was awarded with the "Best