04.01.2010 - Gulf Finance House books $300 mln provision over Dubai exposure
From Business-standard.com: Islamic investment bank Gulf Finance House (GFH) has booked a $300 million provision over its exposure to a Dubai development project. GFH, will take a $300 million (non-cash) charge against its proprietary Dubailand position and correspondingly reduce the liabilities on its balance sheet by $290 million, Gulf Finance House has said in a statement. "Furthermore, GFH has no remaining material exposure to Dubai," the statement added..........................................Full Article: Source
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