Demand for Islamic private banking services rising, says KFH

Private Financial Services Department Manager at Kuwait Finance House (KFH) Talal Al-Nesf claims demand for private Islamic banking services has grown rapidly during the past two years, despite the impact of the financial crisis.
However, Al-Nest also pointed out that private banking clients have reassessed their objectives and strategies, becoming more conservative while also seeking profitable products with minimal risks. Such an approach is contrary to their approach before the crisis, where they were willing to take high risks in return for high returns in light of the available opportunities and liquidity.
KFH is currently considering new products from all aspects, especially the level of risk, the expected returns, and the estimated exiting time. Those products are expected to be offered through funds that invest in the sectors of Ijarah and shipping. In addition, Al-Nest stated that KFH is expected to boost the Sukuk market.