The Turkish Minister of Finance Mehmet Semsic praised KFH-Turkey and said that it is a model of economic cooperation between Kuwait and Turkey, since it has achieved success, growth and development in a very short time in all fields, which is a source of pride, because it reflects the promising opportunities in the Turkish market, in addition to the ability of the Kuwaiti businessmen to adapt to the various investment and financial developments. He went on to assert that his government encourages the role played by KFH-Turkey, which is to support commercial and investment exchange among Kuwait, Turkey, and the GCC. The minister stated during a celebration that KFH held for him and his accompanying delegation on the occasion of their visit to Kuwait, that the chances of developing the Kuwaiti-Turkish relationships are very high, especially that the Turkish government offers benefits to investors. He added that the Turkish government relies on the role that the banks and corporations in Turkey and Kuwait can play, which is evident by the fact that KFH-Turkey has been operating for more than two decades without facing any obstacles. He also applauded during the celebration the bank's board for their efforts that resulted in a paradigm shift in the bank's operations.
Meanwhile, KFH-Turkey's Chairman Mohammed Al-Omar said that the strong historic relationships between the two countries encouraged KFH to establish a bank in Turkey 20 years ago, not to mention the great care that the Turkish government gives to Islamic banking. He went on to say that the banks has been making significant progress as a result of the wise economic policies that support the private sector, and mentioned that the assets reached TL 6.5 billion (USD 5 billion), the deposits, profits and shareholders' equity increases by 30-45% annually, the branches reached 145 and the bank aims to increase them to 200 by the end of this year. In addition to that, KFH established banks in Bahrain, Dubai, and an office in Kazakhstan, not to mention operating soon in Manheim, Germany. Al-Omar mentioned that Turk Capital, a KFH-Turkey subsidiary, is working on developing and expanding fields of investment.
It is worth noting that the celebration included a demonstration of KFH-Turkey's achievements presented by CEO Ufuk Iwan, which showed the development in the bank's business and its future opportunities in the Gulf, Europe, and Turkey.
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