GFH CEO to consult with shareholders in Kuwait

The event, taking place in the Diamond Ballroom at the Sheraton Hotel from 7.30pm to 9.30pm will include a detailed presentation on the Banks' future strategic direction and a full question and answer session in the company of GFH's senior management team.

This event follows the GFH Ordinary and Extraordinary General Meeting held at the Gulf Hotel in Bahrain on 10th September during which Mr. Fahour outlined the significant strides GFH has taken in recent weeks and will continue to make in the weeks and months ahead. Key elements of the new strategy include the announcement of a landmark partnership with Global investment banking player Macquarie Group, subject to regulatory approval and a $100m investment in GFH by Macquarie Group in the form of a convertible Murabaha.

In addition, GFH have been engaged in a capital raising initiative with a target of up to $300m in new capital that will support a redesigned GFH business model and allow the bank to fully capitalize on the many high value investment opportunities created by the downturn. During the Ordinary and Extraordinary General Meeting shareholders gave their full support to these proposals and an increase in the bank's authorized share capital from $500m to $1.5bn.

Commenting on the planned event, GFH CEO Ahmed Fahour said:

"We are extremely excited by the opportunities that lie ahead for GFH. Our ultimate goal is to emerge as the world's leader in Islamic investment banking but earning the trust and confidence of our shareholders is fundamental to the successful execution of our strategy."

"Strong relationships are built on frequent and open communication. We should never under-estimate the importance of genuine two-way engagement with stakeholders in GFH, whatever the prevailing economic conditions. In the months and years ahead, will pledge to make these relationships a priority and I look forward to hearing the thoughts and ideas of our shareholders in this and many more open meetings we will hold going forward."