KFH was established as the first Islamic bank in Kuwait in 1977. Today, it operates in 12 countries, with more than 680 branches. In 2022, KFH acquired Ahli United Bank – Bahrain, which converted into a licensed Islamic Bank in December 2023. It completed its merger with Ahli United Bank – Kuwait in February 2024. KFH launched a Shariah-compliant digital bank in Kuwait, Tam Digital Bank, in October 2023. The bank’s net profits increased by 55.3% to hit $2.2 billion in 2023. The Kuwait Investment Authority owned 15.67% of the bank as of mid-March 2024.