Monzer KahfThe 1999 annual report was not available; thus 1999 figures were taken
from 2000 annual report.
Kuwait Finance House (million Kuwait Dinars)
1998199920002001
Invested assets 1501.7 1587.3 1830.4 2218.0
Cash and bank assets 115.9 117.6 133.3 80.6
Total assets 1669.3 1769.5 2025.6 2375.5
Customers’ deposits 1261.8 1334.9 1547.1 1775.2
(Current accounts) --- --- --- ---
Restricted and special investment --- --- --- ---
Creditor Banks 21.4 5.7 7.6 81.9
Equity 169.0 192.2 217.2 239.8
Earnings 132.0 134.1 144.1 143.2
Expenses 30.9 28.5 27.8 30.2
Net profits 42.0 44.4 47.6 51.3
Depositors’ share of profit 57.6 59.7 66.5 58.4
Notes
(^1) These banks are: Jordan Islamic Bank, Islamic Bank of Qatar, Shamil Bank of
Bahrain, Bahrain Islamic Bank, Dubai Islamic Bank, Arab Banking Corp Islamic
Bank and Kuwait Finance House.
(^2) Reservations must be made beforehand on the results to be arrived at because this
study is not meant to cover all Islamic banks nor did it make a random choice of
them. It is rather a study of the available financial information. Add to it, the fact
that information available in the final reports did not account for the reasons for
differences between various banks. Undoubtedly, there are explanatory information
that are still buried in other reports and records that are difficult to access, just as
many of them are stored in the minds of top and middle-level management of these
banks, making it difficult to be extracted except through intense interviews with
these persons.
(^3) Grubbs and Reienbach (1991), pp. 7-8.
(^4) Ibid., p. 28.
(^5) Gackle (1994), p. 60.
(^6) Grubbs and Reienbach (1991), p. 75-86.
(^7) Gackle (1994), p.59
(^8) Ibid., pp.61-72
(^9) There are numerous writings about this issue, including Taylor (1994). In this book,
the rules of banking prudence in credit and investment are discussed. Also