Shareholding Structure

Kuwait Finance House KSC

Established in Kuwait in 1977, as one of the first Islamic Shari'a compliant banks, 48.9 % is owned by Kuwait Government Entities and 51,10 % of the shares are publicly held. It is the second-largest bank in Kuwait with a local network of 46 branches and operates under the purview of the central bank. It has an assets total equal to KD10.5bn (US$38.6bn) and deposits total equal to KD6.6bn (US$24.2bn), representing 25% of the total deposits in the Kuwaiti market as of 31st December 2008. KFH provides a wide range of Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services. KFH has been highly rated by prestigious international agencies. Standard & Poor's rated KFH A-/A2 for short and long term investments respectively. Capital Intelligence rated KFH A+/A1 for short and long term investments, respectively. Fitch International rated KFH A+/F1 for IDR Long Term and IDR Short Term respectively and Moody's rating for KFH is Aa3.

KFH provides a wide range of Islamic Shari'a compliant products and services, covering banking, real estate, trade finance, investment portfolios, and other products and services. KFH has established presence in Turkey, Bahrain, Malaysia, Jordan, Kingdom of Saudi Arabia with representative offices in Australia, Singapore .KFH provides strategic guidance on commercial, financials and operational matters to subsidiaries.

For more information, please click: www.kfh.com

General Directorate for Foundations, Turkey

General Directorate for Foundations (GDF) consists of a large number of recorded foundations which were founded prior to 1926. Pursuant to the Foundations Law No. 2762 and the Law on the Organization and Duties of the General Directorate for Foundations, the assets and properties of the recorded foundations are administered and managed by the GDF. The GDF was established in 1924 to administer, manage and regulate existing and future Turkish charitable foundations as a state entity directly reporting to the Prime Minister. The GDF is a separate legal entity and has its own budget. The GDF was given the authority to establish a bank subject to its incorporation law for the purpose of managing the foundations’ revenues and expenses.

For more information, please click: www.vgm.gov.tr

Islamic Development Bank

The Islamic Development Bank is an international financial institution established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in December 1973. The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Law. The functions of the Bank are to participate in equity capital and grant loans for productive projects and enterprises besides providing financial assistance to member countries in other forms for economic and social development. The Bank is also required to establish and operate special funds for specific purposes including a fund for assistance to Muslim communities in non-member countries, in addition to setting up trust funds. The present membership of the Bank consists of 56 countries. The basic condition for membership is that the prospective member country should be a member of the Organization of the Islamic Conference, pay its contribution to the capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors.

Up to the end of June 1992, the authorized capital of the Bank was two billion Islamic Dinars (ID) {A unit of account of IDB which is equivalent to one Special Drawing Right (SDR) of the International Monetary Fund (IMF)}. Since July 1992, in accordance with a Resolution of the Board of Governors, it became six billion Islamic Dinars, divided into 600,000 shares having a par value of 10,000 Islamic Dinars (ID) each. Its subscribed capital also became four billion Islamic Dinars payable according to specific schedules and in freely convertible currency acceptable to the Bank. The Board of Governors of the IDB in its 31st Annual Meeting in Kuwait decided to increase the authorized capital stock of IDB by 15 billion Islamic Dinars to become 30 billion Islamic Dinars and the subscribed capital by 6.9 billion Islamic Dinars to become 15 billion Islamic Dinars.

For more information, please click: www.isdb.org

The Public Institution for Social Security

The Public Institution for Social Security, Kuwait is a Kuwaiti Government owned Social security system covering old age and disability. in 1976 under the Amiri Law Order No. 61 of 1976, by virtue of which the Public Institution for Social Security was created to apply the system issued, including;

a) Security of old age, disability, sickness and decease for civil workers in the government sector, private and oil sectors,
b) Security of old age, disability, sickness and decease for the self-employed, working at their own account and their affiliates,
c) Security of occupational diseases.

For more information, please click: www.pifss.gov.kw

Other