Bayt Almal Becomes Pioneer of Innovation and Private Islamic Financial Services in the Middle East

Kuwait Finance House (KFH) won two prestigious awards at the 2026 Global Private Banking Awards, organized by Professional Wealth Management (PWM) magazine, part of the Financial Times Group, in recognition of its excellence, innovation, and leadership in delivering private financial services and wealth management across the region. The bank received the awards for “Best Private Banking Innovation Bank – Middle East” and “Best Islamic Private Banking Bank – Middle East.”

Alexander Lidel, Group Executive Vice President for Private Financial Services and Wealth Management, accepted the awards at a ceremony held in London, attended by leading institutions in private financial services and wealth management from around the world.

Commenting on this achievement, Lidel stated that this honor underscores KFH’s continued commitment to delivering innovative wealth management solutions, enhancing customer experience through advanced financial services, and consolidating its leading position in providing Sharia-compliant private financial services. He noted that the two awards also reflect the bank’s success in developing innovative private banking solutions that meet customer aspirations, reinforcing its status as one of the top providers of Sharia-compliant wealth management services in Kuwait, Bahrain, Turkey, Egypt, and the United Kingdom.

He emphasized the bank’s ongoing investments in digital transformation, product innovation, and the development of a comprehensive suite of wealth management and investment advisory services, tailored to meet the evolving needs of high-net-worth individuals and wealthy clients. Lidel clarified that KFH continues to strengthen its capabilities in private financial services and wealth management through an integrated service model that combines global best practices, advanced financial solutions, and extensive expertise in Islamic finance. He added that the bank is committed to delivering innovative added value to clients while enabling the growth and development of the private financial services sector in the region.

He said: “Amid ongoing economic and investment developments, KFH remains committed to providing a comprehensive range of private financial services and wealth management solutions, including daily banking transactions, savings solutions, mortgage financing, management of multi-asset global discretionary portfolios, investment in global equities, sukuk, and real estate, as well as treasury services, investment solutions, leasing services, trade finance, and diverse investment opportunities under an open-end investment model, allowing clients to benefit from local, regional, and global markets. Collectively, these services help our clients grow and preserve their wealth today and for future generations.”

Launched in 2009, the Global Private Banking Awards are among the most prominent benchmarks in the industry, recognizing outstanding institutions in private financial services. The awards combine qualitative assessment with quantitative performance analysis to identify global leaders in the field.