KUALA LUMPUR: Based on the Kuwait Finance House K.S.C.P. (the Group)’s international business strategic review to focus and expand in regional markets...
Based on the Kuwait Finance House K.S.C.P. ’s international business strategic review to focus and expand in regional markets , the Group has decided to voluntarily withdraw from the Malaysian market and wind down Kuwait Finance House Berhad .
Acting CEO, Ida Aizun Husin, said “KFHMB is profitable and remains solvent as we approach this transition with a strong financial foundation, ensuring that all our commitments are met with the highest level of responsibility. Our primary focus is to facilitate a smooth transition, reflecting our deep appreciation for the business partnerships we have developed in Malaysia. We do not foresee any service disruptions to clients, employees, and partners.
In a press statement, it said that as part of ensuring a smooth transition, KFHMB is exploring the potential sale of certain portfolio segments to prospective buyer, all subject to regulatory approvals. The Group added that the entire process will adhere strictly to Malaysia's regulatory frameworks, ensuring compliance with Shariah principles.
“KFHMB extends its gratitude to the Malaysian government and various regulatory bodies whose support has been unwavering. We look forward to maintaining strong ties as we navigate through this transition,” it said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysian architect designs award-winning 3-in-1 house for 3-generation familyPHNOM PENH: A unique blend of ancient culture and modern technology has recently captured the imagination of international tourists visiting Cambodia.
Read more »
Old Malaysian house in KL transformed into all-white, yacht-inspired homeMaybank has assured customers that its systems remain secure amid claims that its Maybank2u database is being offered for sale on a dark web forum.
Read more »
Malaysia awaits Kuwait’s nod for F/A-18 Hornet jet deal, says defence ministerSERI ISKANDAR, July 14 — The Ministry of Defence (Mindef) is awaiting the Kuwaiti government’s agreement for the procurement of F/A-18 Legacy Hornet aircraft meant for the...
Read more »
Hornet: MINDEF tunggu persetujuan KuwaitSERI ISKANDAR: Kementerian Pertahanan (Mindef) kini hanya menunggu persetujuan kerajaan Kuwait berhubung perolehan pesawat F/A-18 Legacy Hornet untuk ...
Read more »
MINDEF awaiting Kuwait agreement for Hornet procurementSERI ISKANDAR: The Ministry of Defence (Mindef) is awaiting the Kuwaiti government’s agreement for the procurement of F/A-18 Legacy Hornet aircraft me...
Read more »
Malaysia, Kuwait discuss acquisition of F/A-18 Hornet fighter jetsKUALA LUMPUR: Malaysia is in discussions with Kuwait to acquire F/A-18 Legacy Hornet aircraft from the Kuwait Air Force (KAF) for the use of the Malay...
Read more »