| Gulf Finance House, the Bahrain based Islamic investment bank announced that the Kuwait Investment Company has been appointed to assist the bank with the recapitalization and raising up to US$ 500 million program through a convertible murabaha as part of the restructuring plan agreed to by shareholders.
KIC’s appointment opens up an opportunity to individual, private investors who will now - through KIC - be able to participate in the capital increase. The funds raised will be used by GFH to re-capitalise the bank and to transform GFH in to an institution focused solely on the creation, development and management of Islamic financial institutions offering a range of financial products and services to corporate and retail clients, creating for GFH a more stable business model of recurring revenues..............................................Full Press Release: Source
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