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.
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Source: theSundaily - 🏆 25. / 51 Read more »