Register | Forgot password?
Switch to Arabic
Tuesday, December 1 - 2009

GFH announces strategic partnership with Macquarie Group in Mena

Gulf Finance House (GFH), a Middle Eastern Islamic investment bank, announced that it intends to establish a joint Islamic financial services platform in the Middle East with Macquarie Group Limited (Macquarie), a global provider of banking, financial, advisory, investment and funds management services.

Article continues below
 
The platform will offer a broad range of wholesale Shariah compliant financial services solutions to the Middle East and North Africa (Mena) region.

The proposed partnership, which is subject to board, internal, and regulatory approvals of both companies, includes a joint presence based in the region and approximately $100m convertible murabaha investment by Macquarie in GFH as part of GFH's current capital management initiatives.

The proposed partnership is the subject of a confidential memorandum of understanding signed by the parties in a private ceremony in Bahrain today.

Commenting on the announcement, GFH CEO Ahmed Fahour said:
"The strategic partnership with Macquarie represents an exciting opportunity as we look to continue the bank's diversification into new geographies and opportunities."


"Today's announcement is an exciting step towards realizing GFH's long term objective of establishing a truly world class Islamic investment bank. The strategic relationship would bring together GFH and Macquarie to create the standard in Sharia compliant products and services for the Mena region," he added.
Also consider reading:
Log in to request more information from Gulf Finance House (GFH)

Notes and media contacts

About Gulf Finance House:

Gulf Finance House is a leading Middle Eastern Islamic Investment bank founded in 1999, offering a variety of Sharia'a compliant products across private equity, venture capital, asset management and development infrastructure. Over the past decade GFH has successfully launched initiatives with an aggregate value exceeding $30bn. Its shares are actively traded on the London Stock Exchange (GDR), the Kuwait Stock Exchange, the Bahrain Stock Exchange and the Dubai Financial Market.

In 2008 GFH was awarded 'Mena Investment Bank of the Year' by Acquisitions Monthly, and 'Best Investment Bank' by Islamic Banking and Finance magazine. In 2009, the Bank was named 'Best Islamic Finance House' award at the Banker Middle East Industry Awards.

About Macquarie Group:

Macquarie is a global provider of banking, financial, advisory, investment and funds management services. Macquarie's main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world.

Macquarie Group Limited is listed in Australia (ASX:MQG) and is regulated by APRA, the Australian banking regulator, as the owner of Macquarie Bank Limited, an authorised deposit taker. Macquarie also owns a bank in the UK, Macquarie Bank International, which is regulated by the FSA. Macquarie's activities are also subject to scrutiny by other regulatory agencies around the world.

Founded in 1969, Macquarie operates in more than 70 office locations in 26 countries. Macquarie employed approximately 12,500 people and had assets under management of $190bn at 31 July 2009.

For more information, please contact:

David Kingsmill Moore
Senior Manager
Corporate Communications Department
Gulf Finance House (GFH)
Office: +973 17538538 Ext 755

Flossie Pereira
Admin Assistant
Hill & Knowlton, Bahrain
Main Line: +973 17533532 ext 502
Direct Line: +973 17539502
Fax: +973 17533370 / 17531747 / 17536568
PO Box 1596 Manama, Kingdom of Bahrain

Disclaimer:

Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com

Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.

For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions