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Cambridge IFA awards KHCB for “Bahrain’s Most Innovative Islamic Retail Bank” and “Best Islamic Retail Banking Product for the Al Waffer Account” in the year 2020

December 27, 2020
islamic finance

Khaleeji Commercial Bank (KHCB), one of the leading Islamic Banks in the Kingdom of Bahrain, has announced that it has been named “Bahrain’s Most Innovative Islamic Retail Bank” and “Best Islamic Retail Banking Product for the Al Waffer Account” for 2020 by the Cambridge IFA, who specializes in conducting research and academic studies for Financial Institutions. The Evaluation and Adjudication of these two prestigious awards to KHCB were based on a set of criteria that included Financial Performance, Business Development, Corporate Identity Impact, Client Satisfaction, Innovation in providing Banking Services and Solutions, and Employing Financial Technologies.

On this occasion, CEO Mr. Sattam Sulaiman Algosaibi stated “We are delighted to win these Awards from Cambridge IFA for the year 2020, as this reflects our keen endeavours to enhance the quality of the products and services provided by Khaleeji Commercial Bank. Since its inception 15 years ago, KHCB has laid strong foundations and pillars that positioned it in the lead of creativity and innovation, as the Bank acknowledges that it is the optimum way to respond to the continuously-changing challenges and accommodate growing requirements, in order to reinforce its position that KHCB occupies as one of the leading actively contributing financial institutions to the growth of our beloved Kingdom’s Banking Sector.”

Mr. Algosaibi added “KHCB sought early adoption of Digital Transformation and Financial Technology (FinTech), which translates into our initiative to lay the basis for developing Open Banking Services not only locally but also regionally, enabling us to communicate with a wide range of international companies working in the field of FinTech and launch a new bundle of quality services for our valued clients. In our continuous endeavour to implement a development strategy with added value for clients, KHCB is keen on launching a basket of various and innovative products and services for its individual and corporate clients.”

Mr. Algosaibi mentioned out “On the subject of development, we reaffirm our continuous efforts to enhance the quality of our performance, services, and products, with the aim of providing the best to our dear clients. “Al Waffer” Investment Account, which is based on Absolute Mudarabah and is compliant with the Provisions of Islamic Shari’a, is a true representation of these efforts, considering the improvement it has witnessed over the past few years, presenting exceptional offers, awards, and benefits that placed it as one of the best investment products in the local market.”

Mr. Algosaibi concluded “I would like to take this opportunity to express -on behalf of members of the Board of Directors and Executive Management- my sincere gratitude to all our partners in success and valued clients for their continuous support and high confidence in the Bank. I would also like to express thanks and appreciation to the Management Team, the Bank’s Employees, and our Shareholders for their efforts in making the Bank one of the leading Islamic banks in the Kingdom.”

KHCB is a leading Islamic bank that strives to achieve clients’ aspirations through an Islamic banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.