Kuwait Finance House (Malaysia) Berhad (KFH Malaysia) is the first foreign Islamic bank that was granted a licence under the Islamic Banking Act (Malaysia) 1983 on 8 May 2005. KFH Malaysia commenced Branch Operations on 8 August 2005. A wholly-owned subsidiary of KFH, the move to set up an office in Malaysia was on the heels of Bank Negara Malaysia's (BNM's) decision to open up the country's Islamic banking industry to qualified foreign players as recommended under its Financial Sector Master Plan. As the regional headquarters of KFH in the Asia-Pacific region, KFH’s main role is to provide innovative Shariah-based financial solutions to our customers. In addition, KFH act as the intermediary and facilitator to promote two-way investments and trade between Malaysia, Asia-Pacific and the Middle East. Furthermore, Kuwait Finance House (Labuan) Berhad is licenced to carry on offshore banking business in the Federal Territory of Labuan.
Jesselton College - School of Business had organized this industrial visit for students from three different programmes in Jesselton College. Understanding towards banking daily operation is the main learning outcomes for this industrial visit. On top of that, activities related to marketing of banking and financing products were shown by the personnel from Kuwait Finance House. The objectives of this visit are to provide students with exposure and insight to the real working environment in banking industry as well as linking the visit experience towards course materials that conducted during lecture.
|Arrival of students, lecturers and personnel from KFH
|8.45a.m. – 9.15a.m.
|Welcome Speech from Branch Manager, Mr. Jackson Phan and detail elaboration on KFH banking operations and products
|9.15a.m. – 9.35a.m.
|Account opening and procedures
|9.35a.m. – 10.00a.m.
|ATM and CDM machine retrieval and replenishment demonstration by Mr. Azaman
|10.00a.m. – 10.20a.m.
|Cheque Machine Retrieval and Procedure demonstration by Mr. Azaman
|10.20a.m. – 10.45a.m.
|Self Service Terminal (SST) Cash Balancing, Posting of SST transactions by Mr. Azaman and Mr. Tan
|10.45a.m. – 10.55p.m.
|KFH Branch De-tour session
|10.55a.m. – 11.05p.m.
|Group Photo Session and Presentation of Token of Appreciation from Jesselton college
|11.05a.m. – 11.45a.m.
|Refreshment, Q&A sessions with staff from KFH
|End of Visit
All students arrived at KFH on 8.45a.m. Following after that, students were given a warm welcome by KFH branch manager, Mr. Jackson Phan and other staffs from KFH. The industrial visit began with students fill-in necessary details in the account opening form. Then, all students were invited into KFH conference room and Mr. Jackson provided a detailed explanation on KFH background, operations and products. Several new products from KFH were introduced to student such as saving account, gold account, cashline and many more. All of the products are shariah-compliance in which pork and gambling related activities are prohibited.
After the briefing session by Mr. Jackson Phan, students were directed to the banking hall to continue with the account opening. The demonstration of retrieval and replenishment of Automated Teller Machine (ATM) and Cash Deposit Machine (CDM) were done by Mr. Azaman together with Mr. Tan. On top of that, cheque machine retrieval also been demonstrated to students. The demonstration of the retrieval was done with excellent explanation from both Mr. Azaman and Mr. Tan in which they both shared their experiences in daily machine maintenance procedures. All the procedures were handled with care as each machine tray may cost up to RM 6,000. Following after that, Mr. Azaman continues with explanation on their ordinary banking activities which inclusive of the daily cash balancing. Students were excited and enquire many questions regarding to the daily operations of KFH.
Before the end of the visit, Jesselton College expressed gratitude towards KFH support for the industrial visit by presenting a gift as a token of appreciation by Mr. Chun How. Following after that, group photo session were taken together with students, lecturers as well as staffs from KFH. Students and lecturers were invited for refreshment session after group photo had been taken. In the meantime, students took the opportunity to have a casual talk and question and answers session with staffs from KFH.
The industrial visit ended on 11.45a.m., students were required to go back to campus to continue their class for afternoon session. Positive feedbacks were provided by students, showing their satisfaction towards this industrial visit. Experiences in real working environment and innovative banking products were the main rewards for all of the students that joined this industrial visit.