Kuwait Finance House (KFH) CEO Mohammed Al-Omar explained that KFH seeks to expand its existence in overseas markets, if good opportunities for the establishing of profitable investments arise. Canada is considered to be one of those markets, and KFH’s objective is to setup long term investments that serve as added value to the society, and as an instrument in developing the society.
It is worth noting that KFH held a banquet to honor the Canadian delegation for international relationships that was headed by Minister Kal Dallas, and included a group of senior officials. The event was attended by Canadian Ambassador in Kuwait Douglas George. Al-Omar expressed his pleasure in receiving the delegation, and said that the visit is very important since KFH plans to expand its investments in the Canadian market, in an attempt to cement its global expansion by entering new markets. He added that KFH managed last year to setup a real estate fund in Canada worth CND 450 million in collaboration with a major Canadian company. He went on to say that there are other investment opportunities that KFH is considering in light of positive indicators that show promising growth in the Canadian market.
Meanwhile, Dallas applauded KFH for KFH success in global markets, and revealed that Canada offers investors suitable facilities. He asserted that Canada is keen to take advantage of the significant growth of Islamic economy and its institutions, such as KFH, in order to boost the Canadian economy. He went on to say that the trade exchange between Kuwait and Canada exceeded USD 186 million in 2011 with a 43% increase than the previous year. He stated that there are several Canadian companies working in the power field, and praised the strong relationships between the two countries. He stressed that the Canadian government is committed to encourage investments that can lead to new opportunities and horizons, in addition to boosting the economy growth rate. He mentioned that Canada and Kuwait cemented this commitment in 2011 by inking an agreement to encourage and protect investments in both countries.
Moreover, ambassador George highlighted the importance of the relationships between Kuwait and Canada, and stated that Canada is willing to work side by side with Kuwait to strengthen political relationships, boost trade, and develop coordination in all fields.
The meeting was attended by Jeff Henwood, Rahul Sharma,and Norm Morrison from Canada; and Chief Investment Officer Abdul Nasser Al-Subeih, General Manager of International Banking Shaheen Al-Ghanem, General Manager of Strategy and Corporate Affairs Fahad Al-Mukhaizeem, and International Real Estate Department Manager Ali Al-Ghannam. Commemorative gifts were exchanged between the two parties.