10.02.2011 - Gulf Finance House signs an agreement with Kuwait Investment Company to assist with its capital raising program
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