“The market share of Kuwait Finance House- Turkey (KFH-Turkey) accounts for 37% of the participation banking in Turkey. The total assets of participation banks as percentage of the total assets of banks in Turkey account for 5-6% and is expected to surge” said KFH-Group CEO, Mazin Saad Al-Nahedh.

Speaking to Sky News Arabia TV in an interview conducted at the KFH’s Headquarters, Al-Nahedh added that the diversification of KFH-Turkey’s financing portfolio makes its assets in a good position, indicating that the diversifications in the economic sectors allow KFH-Turkey to diversify the sectors to finance.

He revealed that no intentions now for new acquisitions in Turkey, however, nothing prevents KFH from that if the opportunity is good and the prices are suitable. The growth rates in KFH-Turkey outpace the rates in Kuwait, Bahrain and Malaysia. This is attributable to the diversification of economy resources that encompass infrastructure, education, health, real estate investment and so forth.

Al-Nahed said that the failed coup in Turkey will diversely impact the investment in Turkey on the short term only, while the medium and long terms will witness robust growth and stability as the government won votes of confidence from its people, which lead to more political and economic stability, thus further lures investors.

He reassured that KFH closely and prudently monitors all the exposures of the bank in compliance with the instructions and regulations of the central bank and the regulatory authorities, indicating that the Kuwaiti banks have strong capital base. The capital adequacy ratio CAR of KFH-Group surpassed 17% as of end Q1.

Al-Nahedh said that KD 700 million sovereign debt issuances to Islamic banks since the beginning of the program that had started last April. The share of KFH accounts for 50% which represents its market share of Islamic banks in Kuwait. He noted that the pace of offering bonds is suitable for the market and the liquidity volume.