KUWAIT FINANCE HOUSE MALAYSIA OPENS NEW BRANCH IN PENANG

DUBAI, Dec 15 (Bernama) -- Kuwait Finance House-Malaysia(KFHM) has opened a new branch in Bayan Lepas, Penang.

KFHM chairman Shaheen Al-Ghanem said the move was prompted by the fact that
Malaysia's northern city Penang was one of the largest industrial cities in
Malaysia and Asia.

"The bank targets all areas in Malaysia where services will vary from one
to the other according to the nature and characteristics of each," he said in
remarks made available to the media here.

He added that KFHM was proud to be standing on solid ground, especially
since it had been operating for only the past two years.

According to Al-Ghanem, Malaysia had attracted investments and funds from
Kuwait, the Middle East and the Gulf Cooperation Council to finance service
sector projects known for their long-term continuous return with minimum risks.

"Such projects are a qualitative addition to the market, since they are
linked to vital projects that affect day-to-day life," he said.

Meanwhile, KFHM chief executive officer Salman Yunis said the bank was
interested in projects like power and gas, transportation, health, education,
real estate development, technology and industry.