The World’s oldest Islamic bank has strengthened its leadership to provide sharia-compliant products and services to an even broader market. Simpler, better, faster. These three key words form the cornerstone of a strategy that is seen to propel Kuwait Finance House Malaysia from its present level to a stronger position in the region. Thanks to fundamental adjustments that demonstrate efforts of Kuwait Finance House to grow its Malaysian subsidiary, the outlook for KFH Malaysia has never been better. “After making changes to the management structure in Kuwait, we came to bring the Malaysia arm in line with the group and to make sure that we drive forward to become the dominant player in Southeast Asia,” CEO David Power said.
Groomed as the regional hub for KFH in the Far East, KFH Malaysia had 18 vacant management positions when Power took over. Within a short period, he took steps to make sure that the bank had the right people on board who could assess the problems and come up with short-, medium- and long-term solutions.
Kuwait Finance House-Malaysia (KFH-Malaysia) is taking steps towards expanding its operations in Sarawak on top of the two existing branches at present. CEO David Power reinstated KFH's commitment to grow and expand after paying a courtesy call on Chief Minister Datuk Patinggi Tan Sri Adenan Satem. He added that there were 15 branches throughout Malaysia since its establishment in 2006, two of them in Sarawak. He noted they were evaluating the performance of the two existing branches first and consider to set up another branch. KFH Malaysia is looking forward to stronger business ties in the state in the long term to provide Islamic financial services and products to the people of Sarawak.
Kuwait Finance House (KFH Malaysia) has appointed David Power as its new chief executive officer (CEO). Power, who has been Kuwait Finance House (KFHK) group chief retail and private banking officer since 2014, is now replacing Ahmed S. Al Kharji. KFH Malaysia had also appointed Nor Azzam Abdul Jalil as its deputy CEO and chief (consumer banking) effective June 1, and David Wee Kim Peng as chief operating officer, effective April 1. KFH Malaysia was established on Aug 8, 2005.