Press releases, Reports & Disclosures for GFH Financial Group B.S.C.

The GFH Financial Group has announced that it has acted as a Joint Lead Manager and bookrunner for the successful issuance of a $500 million 5-year sukuk by Arabian Centers Company (Cenomi Centers), Saudi Arabia's largest shopping mall owner, developer, and operator. This investment is expected to positively impact the Group's financials and increase their returns.

The GFH Financial Group B.S.C. has announced that it is currently in discussions to acquire the financing and investment portfolios of Ithmaar Holding B.S.C. This transaction is subject to due diligence and regulatory approval. The financial impact of the acquisition is expected to be positive and significant, and it is anticipated to increase the returns for the group.

The GFH Financial Group B.S.C. has announced a board meeting scheduled for 14th May 2024. The meeting will start at 2 p.m. according to the Kingdom of Bahrain's time. The agenda of the meeting includes discussing the financial results for the first quarter of 2024 and other internal matters. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

The GFH Financial Group B.S.C. has announced the nomination results for the membership of its Board of Directors (BOD). This follows the announcement issued on January 25, 2024, regarding the opening of nominations for 10 seats on the board for a new term of three years (2024-2027). The list of nominees includes 18 individuals who have met all the conditions and requirements for nomination. The names of the nominees are as follows: Ghazi Faisal Al Hajeri, Idris Mohammed Al Rufai, Hisham Ahmed Al Rayes, Ali Murad Ali, Rashid Nasser Al Kaabi, Darwish Abdullah Al Ketbi, Dr. Yusuf Abdullah Taqi, Talal Fawaz Al Tamimi, Abdulhamid Abdulaziz Al Basam, Abdullah Jihad Al Zain, Sheikha Manwa bint Ali bin Khalifa Al Khalifa, Dr. Zafar Rashid Al Jalahma, Shaima Tahami Abdulmotalib, Dr. Nasser Salah Boresli, Sushil Kumar Rajmal Jain, Khalid Abdullah Hisham, Prince Mahmoud Abdel Razek, and Monira Ansa Al Buainain.

GFH Financial Group has signed an agreement with Southern Star Investments W.L.L. to sell part of GFH's ownership in Khaleeji Bank's Additional Tier 1 Certificates. The nominal value of the sale is USD 74,962,912. Following regulatory approval and conversion, Southern Star Investments will own 282,610,178 ordinary shares, representing 25% of the issued and paid-up capital of Khaleeji Bank BSC. The transaction is expected to have a positive impact on GFH's financials and increase returns for the group.

On 05/03/2024, GFH Financial Group B.S.C. (Trading Code GFH) announced the sale of 95,989,635 of its treasury shares, representing 2.5% of its total issued shares, to Vandik W.L.L. Following this transaction, the total number of treasury shares held by GFH will be 123,115,501, representing 3.21% of its total shares. The announcement was made by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group.

On 5th March 2024, GFH Financial Group B.S.C. announced the sale of 134,287,812 of its treasury shares, representing 3.5% of its total issued shares, to Southern Star Investments W.L.L. After this sale, the total number of treasury shares held by GFH will be 219,105,136 shares, which represents 5.72% of the total issued shares. The announcement was made by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group.

GFH Financial Group BSC, an Islamic wholesale bank established in 1999, operates in accordance with Islamic Sharia principles. In 2004, it became a public shareholding company and is now listed on four major stock exchanges. The Group manages over $21 billion in assets and has been recognized as one of the Middle East's Top 30 Biggest Asset Managers by Forbes in 2021 and 2022. In 2022, GFH created Infracorp, which issued a $900 million green sukuk on the London Stock Exchange. In 2023, GFH partnered with the FII and the World Economic Forum and expanded its portfolio to include logistics and healthcare assets in the GCC. The Group's corporate governance framework adheres to guidelines issued by the Ministry of Industry and Commerce and the Central Bank of Bahrain. The Board of Directors is accountable for the bank's financial performance and value to shareholders.

GFH Financial Group B.S.C. has invited shareholders to its Annual General Meeting on 17th March, 2024. The agenda includes approving the minutes of the previous meeting, discussing and approving the Board of Directors' report, the Sharia Supervisory Board's report, and the external auditor’s report for 2023. They will also discuss and approve the consolidated financial statements for 2023, and the allocation of the net profit of 2023. The Board recommends transferring $10,522,700 to the statutory reserve, allocating $2,000,000 to charity activities, distributing cash dividends, and retaining the remaining amount for the following year. The agenda also includes approving $1.9 million as remuneration for the Board members, discussing and approving the corporate governance report, disclosing and approving transactions with related parties, releasing the Board members from liability, appointing/reappointing external auditors, approving a share buyback, electing the Board of Directors for the next three years, and discussing any recent issues. If the required legal quorum is not met, additional meetings will be held on 24th and 31st March, 2024.

The text provides information about GFH Financial Group BSC, an Islamic wholesale bank registered with the Central Bank of Bahrain (commercial registration number: 44136). The bank's registered office is located in the Bahrain Financial Harbour, specifically on the 29th floor of Building 1398, East Tower, Block: 346, Road: 4626 in Manama, Kingdom of Bahrain. The directors of the bank include Ghazi Faisal Ebrahim Alhajeri (Chairman), Edris Mohammed Rafi Alrafi (Vice Chairman), Hisham Ahmed Alrayes, Rashid Nasser Al Kaabi, Ali Murad, Fawaz Talal Al Tamimi, Darwish Al Ketbi, and Yusuf Abdulla Taqi. The CEO is Hisham Ahmed Alrayes and KPMG Fakhro serves as the auditor. The text also mentions the bank's consolidated financial statements as of 31 December 2023.