Bahrain’s Gulf Finance House (GFH) has been named as the Most Innovative Islamic Finance House, by Euromoney magazine, the London-based journal specializing in global capital and money markets.
Euromoney singled out GFH as the bank which stood above all others in its focus on providing opportunities to invest in the Middle East markets. The London-based global magazine further said that GFH pioneered developing the regional market on a large scale.
In particular, Euromoney cited the creation of the Financial Centre Investment Company, which is capitalized at $100 million and was set up to develop the first phase of the Bahrain Financial Harbour (BFH) project at an expected cost of $250 million.
The Euromoney award follows close on the heels of the announcement naming GFH Chief Executive Officer Esam Janahi as the Islamic Banker of the Year 2003 at the World Islamic Banking Conference held in Bahrain in December 2003. The award recognized the leadership and innovation Janahi showed in developing Islamic banking. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
