Kuwait Finance House (KFH) – a long-standing market leader and one of the largest Islamic banks in the world, has made its way and established itself as a leader in the Asia-Pacific Region over the past decade. Kuwait Finance House (KFH) was incorporated in the State of Kuwait in 1977 as the first bank in Kuwait to operate in accordance with the Islamic principles of Shariah. Kuwait Finance House (Malaysia) Berhad is a wholly-owned subsidiary of KFH and is the first foreign Islamic Bank to have been awarded a license under the Islamic Banking Act (Malaysia) 1983. As the regional headquarters of KFH in the Asia Pacific region, KFHMB’s primary role is encourage bilateral investments between the Middle East and Asia, as well as provide innovative Shariah-based financial solutions to its world-wide customers.
KFH offers a wide range of Shariah-based financial products and services, including banking, real estate, trade finance, investment portfolios, and other products and services. In the real estate sector, KFH has been actively involved in numerous projects including residential, commercial and mixed development projects. Some of these iconic projects other than The Pearl include:
Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat), is the largest Islamic cooperative bank in Malaysia, offering a wide range of banking products and services which includes consumer financing, commercial financing and deposit and investment products to cater for various segments of markets.
Rating Agency Malaysia (RAM) has reaffirmed Bank Rakyat’s long and short term financial institution ratings at AA3 and P1 respectively. The Asian Banker Research, IB150 2008 report ranked Bank Rakyat at number 12 in the world, making it number 1 in Malaysia and South East Asia in its list of 150 Islamic financial institutions. The list is based on various Indicators including assets, financing, deposits, shareholder value, operating income, net profit and gross non performing financing. Bank Rakyat is also ranked at number seven (7) on the list of The Strongest Banks In Malaysia by the Asian Banker 300, 2008-2009 edition. To date, Bank Rakyat has a strong 120 branch network and 14 Ar-Rahnu X’ Change throughout the country supporting its business.
The Commercial Banking portfolio of Bank Rakyat has been supporting various businesses through financing and investment participation. Its involvement in the real estate include development of residential, commercial and mixed development projects. Among esteemed developments participated by Bank Rakyat are:
Domain Group is the project and construction management division of Malton Berhad, a renowned property developer listed on Main Board of Bursa Malaysia. Domain Resources Sdn Bhd, the holding company, is the project development construction manager for The Pearl. Domain Group offers integrated real estate management and construction services. Its provides a complete range of services from conceptualisation, feasibility study, development management, construction, contracts and documentation management to sale administration for new development, re-development and major renovation projects. The division also provides post development services such as building maintenance and property management.
A holder of a impressive track record in project management, Domain Group has successfully rehabilitated and completed various abandoned housing and low cost development projects worth more than RM500 million under Bank Negara Malaysia’s “Tabung Pusingan Perumahan Terbengkalai” and “Tabung Pusingan Perumahan Kos Rendah” Schemes in Klang Valley, Penang, Johor and Melaka. The division was also awarded other large scale private development management projects such as Pavilion Kuala Lumpur, Carrefour Hypermarkets as well as office developments and warehouses of multinational corporations. Domain Group also undertakes external construction work such as the construction of high rise office buildings, factories, warehouses, shopping malls, highway interchanges, indoor stadiums, hypermarket and government smart schools.