Gulf Finance House (GFH), the leading Middle Eastern Islamic investment bank today announced the signing of an agreement with Qatar Islamic Bank (QIB) relating to the sale of 10% of its 15% stake in Qinvest to QIB.
Qinvest, now Qatar’s leading investment bank was conceived by GFH in partnership with QIB and launched in 2007 and GFH will retain a 5% share holding in the Bank. This sale will realize approximately US$50 million in liquidity which is in addition to the US$150 million in capital already raised so far from its rights issue and the planned US$100million investment by Macquarie Group for the GFH convertible murabaha……………………Full Press Release: Source