MARC Ratings has extended its MARCWatch Developing placement on Kuwait Finance House (Malaysia) Berhad’s (KFH Malaysia) financial institution ratings, where they have been since August 1, 2024. The placement was in response to KFH Malaysia’s decision to voluntarily withdraw from the Malaysian market and wind down its banking business in the country, in line with KFH Group’s strategic review to focus on the Middle East region.

MARC Ratings notes that the winding down process is progressing without major hitches and with the continued support from parent Kuwait Finance House KSC. The rating agency expects the process to be completed within the prescribed timeline. MARC Ratings will continue to monitor the developments accordingly.