Kuwait – Mubasher: Kuwait Finance House (KFH) has seen trading in the sukuk market worth $11.4 billion in 2016, said the company’s head of treasury Abdul Wahab Eissa Al-Rashood.

KFH has achieved significant development last year through encouraging a large number of Islamic and tradition financial institutions to enter the sukuk market and trade, the top official said, according to a statement released Sunday.

KFH has succeeded in acquiring a major stake in trading on the secondary sukuk market.

KFH previously posted a 20.42% rise in profits in the third quarter of 2016 to KWD 52.22 million ($172 million) compared to KWD 43.36 million ($142.8 million) in Q3-15.

As for the first nine months of 2016, the company posted a 16.46% rise to KWD 123.1 million compared to KWD 105.7 million in the same period last year.

KFH’s stock ended Sunday in the green, rising 1.72% to 590 fils. It was also the most active in terms of traded value with KWD 5.9 million after around 10 million shares were exchanged.