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Kuwait Finance House Spreads Wings To Johor

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Points of Essence:

  • KFH Malaysia opens a branch in Johore Bahru, Malaysia.
  • The branch is the fourth in Malaysia and the first outside Kuala Lumpur.
  • This signifies its support to Iskandar Malaysia being a major partnert to its development plans.

JOHOR BAHARU, June 30 (Bernama) — Kuwait Finance House (Malaysia) Bhd (KFHMB) has spread its wings by opening on Monday its first branch in Johor, which is also its first outside the Klang Valley.

Managing director Datuk K. Salman Younis said with the opening of the new branch, which marked its fourth in Malaysia, the bank could now expand its reach across all market sectors outside the Klang Valley, especially in the southern part region where Iskandar Malaysia was being developed.

“We are keen to work closely with the state government and the private sector in continuing to explore opportunities and strategic partnerships. It has always been our objective to support both sectors wherever we have a presence,” he said at the opening of the branch by Johor Menteri Besar Abdul Ghani Othman.

Younis said the bank had been successful in the Klang Valley and hoped to replicate the success here in Johor.

“In our move towards excellence in service, the branch will also offer priority banking. This is the second following the first at the Kuala Lumpur main branch,” he said.

The new branch also houses a commercial banking business centre where customers can access the bank’s full range of commercial banking products and services.

Younis said Kuwait Finance House was not really new in Johor but a major partner in the development of Iskandar Malaysia through Cultural Cluster Sdn Bhd, which was vested with the development of three zones — the Logistics Village, Creative Park and Heritage District.

Together, the three zones cover about 250 hectares of land with an investment value totalling RM1.2 billion.

Another involvement for KFHMB in Johor was a project financing facility for the capital expenditure programme of Senai Airport Terminal Services.

Abdul Ghani, in his speech, praised the role that the KFH group had played in enhancing the link between the Middle East and Malaysia as well as the banks contribution to the development of Islamic finance in Johor.

He hoped that Kuwait Finance House would do more in the state by not only introducing more Islamic banking products and services but also investing in more projects.



Written by Suapi Shaffaii

July 2, 2008 at 4:22 am

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