Kuwait Finance House (KFH) has won the "Institutional Excellence Award" at the World Islamic Banking Conference (WIBC) held recently in the Kingdom of Bahrain.The award, which recognizes the industry's most outstanding achievements, was handed out at a gala dinner and awards ceremony hosted by JP Morgan on the 9th December 2007. Mr. Abdulhakeem Alkhayyat, General Manager of KFH-Bahrain received the award on behalf of the Bank. KFH won the 2007 Institutional Excellence Award based on a number of criteria assessed by the WIBC Awards Committee and following extensive research and analysis, this award is made in recognition of a banking institution that has excelled in the key performance criteria as outlined by "The WIBC Competitiveness Report". In addition, several other criteria were used to determine the winner, including excellence in leadership and overall strategic direction. The peer-based recognition award is the one of the oldest and most prestigious in the international industry. Commenting on this achievement Mr. Bader A. M. Mukhaizeem, Chairman and Managing Director of the Bank said "Striving to achieve the highest levels of quality through the products we offer, the services we provide and the procedures we follow, is paramount to Kuwait Finance House - Bahrain. Receiving this prestigious award is undoubtedly testimony to our unwavering commitment to excellence." "The Conference provides a unique and high profile platform for the advancement of the global Islamic banking industry. The exchange of ideas at the WIBC does not only contribute to the growth of our knowledge, but will inspire excellence in our work. WIBC is one of the few international Islamic finance forums where we can present our learning and experience to others and at the same time learn from their experiences. Moreover, nothing can replace the benefits of face-to-face meetings with key decision makers in an informal environment provided by these conferences. It greatly helps in establishing personal relationships and lay the foundation for future collaboration," he added. Kuwait Finance House (KFH) was established in the State of Kuwait in 1977, as the first bank operating in accordance with the Islamic Shari'a. KFH is listed in Kuwait Stock Exchange (KSE), with a market capitalization of KD 3.133 billion as of 31 December 2006. Assets total KD 6.314 billion and deposits amount to KD 3.730 billion, representing 25% of the total deposits in the Kuwaiti market as per the balance sheet of 2006. 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 also rated KFH A, and Moody's rating was Aa3. KFH has been awarded by The Banker magazine as the world's Best Islamic Financial Institution, and for third successive year it has been awarded by EuroMoney magazine as the best bank.