Bait Almalik Wins Three Excellence Awards in Wealth Management and ESG for 2026
- The bank restructured its private banking and wealth management services and launched a new operating model to enhance investment capabilities.
- Bayan Al-Kuwait restructured its private banking and wealth management services and launched a new operating model to enhance investment capabilities.
- Bayan Al-Kuwait supported investment in specialized expertise and technology and developed Baytak Capital.
- It allocated KD 8 million for the reconstruction of Al-Mubarakiya and KD 18 million to support the Heart Center.
- More than 3,000 hours of volunteer work were contributed, over 18,000 Ramadan meals were distributed, and 1,680 families were supported.
- Several green buildings were completed, earning both GSAS Gold and LEED Gold certifications.
Kuwait Finance House (KFH) secured three prestigious awards at the Euromoney Awards for Excellence 2026, winning “Best Islamic Bank for Wealth Management in the Middle East,” “Best Islamic Bank for Wealth Management in Kuwait,” and “Best Islamic Bank in Kuwait for Environmental, Social, and Governance (ESG) Standards Implementation.”
The awards highlight KFH’s success in developing Sharia-compliant wealth management services and embedding sustainability (ESG) principles and standards across its operations, reflecting its commitment to innovation, enhancing customer experience, and delivering sustainable value.
Winning the awards for “Best Islamic Bank for Wealth Management in the Middle East” and “Best Islamic Bank for Wealth Management in Kuwait” underscores the bank’s success in developing its private banking and wealth management business, transforming it into an integrated advisory platform that combines banking, financing, and investment solutions compliant with Islamic Sharia.
According to the magazine, KFH restructured its private banking and wealth management operations under a unified framework and launched a new operating model aimed at enhancing customer experience, developing investment capabilities, and offering more advanced solutions in Islamic wealth management. This transformation was supported by investments in specialized expertise, technology, and the continuous development of Baytak Capital, the bank’s investment arm.
The magazine noted that a key pillar of KFH’s strategy involves redesigning its customer relationship management model through a specialized advisory framework that integrates relationship managers, investment specialists, financing experts, and account managers, enabling customers to benefit from comprehensive expertise tailored to meet their specific banking, financing, and investment needs.
Euromoney also highlighted the bank’s focus on human capital development, noting that private banking and wealth management teams completed advanced training programs at Moody’s, obtained professional certifications from the Chartered Securities and Investments Institute, and participated in specialized advisory programs in Islamic wealth management.
Regarding investment services, Euromoney pointed to the launch of the bank’s Global Discretionary Portfolio Management service, which is based on the bank’s internal investment vision and asset allocation model, offering customers a diversified, multi-asset investment approach through an open-ended range of Sharia-compliant investment funds.
Digital innovation played a pivotal role in this success. The magazine noted that Baytak Capital implemented a new asset management system to unify the management of investment funds and portfolios, alongside the development of the KFH Wealth app, providing customers with more efficient access to their investment portfolios. Additionally, the launch of the Allfunds platform in Kuwait expanded access to Sharia-compliant investment opportunities.
The magazine added that Al-Bait Al-Mali achieved record profits in the private financial services and wealth management sectors, alongside notable growth in managed investment assets during the evaluation period, reinforcing its position as the benchmark for modern Sharia-compliant, advisory-based wealth management in Kuwait.
Al-Bait Al-Mali’s receipt of the award for Best Islamic Bank in Kuwait in the Environmental, Social, and Governance (ESG) category reflects the bank’s comprehensive approach to sustainability and responsible banking.
The magazine noted that sustainability considerations have become an integral part of the bank’s banking activities, through increased investment in green sukuk and sustainability-linked sukuk, as well as financing national infrastructure projects, including wastewater treatment facilities that support water reuse and enhance resource efficiency.
The magazine also highlighted the bank’s efforts to reduce energy consumption across its branch network by using energy-efficient systems, upgrading cooling systems, and introducing automated control systems that have contributed to improved operational efficiency.
In this context, Al-Bait Al-Mali completed several certified green buildings, including those awarded GSAS Gold and LEED Gold certifications, reflecting tangible improvements in energy and water efficiency and waste management, and contributing to establishing sustainability standards in Kuwait’s commercial real estate sector.
On the social front, Euromoney praised the bank’s Creating Shared Value (CSV) platform, which has seen the implementation of more than 200 community initiatives. These initiatives included allocating 8 million dinars to reconstruct 17 buildings in the Al-Mubarakiya market, and allocating 18 million dinars to support a specialized heart disease center.
These initiatives were further supported by more than 3,000 hours of volunteer work, the distribution of over 18,000 meals during Ramadan, and assistance to 1,680 families, thereby contributing to enhanced healthcare, preservation of national heritage, and support for essential community services.
The magazine also noted that Al-Bait Al-Mali has maintained robust governance standards through direct board-level oversight, comprehensive emissions measurement, and the integration of sustainability considerations into credit assessment processes, thereby aligning sustainability objectives with risk management and capital allocation decisions.
This recognition further strengthens the bank’s position as a leading regional financial institution providing world-class Sharia-compliant financial solutions, while contributing to sustainable economic and social development.
