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Article: Bahrain : GFH in talks over $100m placement.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: babalu03
Bahrain-based Gulf Finance House (GFH) is in advanced talks with banks to place a $100 million convertible Islamic instrument and plans to launch a new bank in the region, its chief executive said yesterday.
"We're in advanced conversations with more than one party," Ahmed Fahour said.
"They are in all cases large financial institutions, bigger than Macquarie," he said.
GFH has placed the $100m murabaha convertible, a financing tool compliant with Islamic law, with Australia's Macquarie Group and is in talks with the bank to create a joint-venture in investment banking.
GFH is trying to reinvent itself by ...