KFH and Ripplenet Partner for Cross-Border Payments
To support the ongoing humanitarian aid and community work, Kuwait Finance House (KFH) has paid Zakat house a total sum of KD 11.2 million. That step is taken in the backdrop of parallelism philosophy, where societies and businesses are complementary. A vibrant society is conducive to the growth of the business, and hence, the firm should consider helping the community with its ethical and moral responsibility.
The Chief Executive Officer of KFH Group, Mazin Saad AlNahedh, handed out the money to the Zakat House in the august presence of top dignitaries from both organizations. The Chief Strategy Officer of the KFH-Group Eng. Fahad Khaled Al-Mukhaizeem was present on the occasion along with a host of personalities from the Zakat House, including Mohammad Alotaibi (Director General), Waleed AlKindary (Deputy General Manager Financial and Administrative Affairs), and Nayef Aljimaz (Resources Development Manager).
Lauding the efforts of Zakat House in uplifting the downtrodden sections of the community, Al-Nahedh said that their group was very keen to support such community projects that would ultimately help strengthen the social fabric and justice in the society. He said that the money would contribute effectively to aid the efforts of Zakat House in Kuwait and other countries in the world.
The Chief Strategy Representative of the group also highlighted the donation services on their ATMs under the name of “Zakat AlFitr and Feed the Fasting.” This safe, secure and convenient service is available for the clients for three years and part of the company’s strategy to keep abreast with the most recent technology and developments happening in the banking world. The Director-General of the Zakat House, Mohammad Alotaibi, commended the contribution of KFH-Group and said that by contributing effectively to building the society, the bank has been able to strengthen its leadership status in the market while contributing equally to building a healthy and prosperous society.
It’s worth mentioning that KFH is the first bank in Kuwait that has joined the services of the RippleNet for providing the facility of cross-border transactions to customers. Not only in Kuwait, but we are also witnessing an increased cloud of Ripple across the globe which has positively impacted the Ripple Predictions in terms of its price and total market capitalization. It’ll be interesting to witness in the future that how much momentum in the price Ripple can realize as its use in cross-border transactions are on the rise.