With reference to Khaleeji Commercial Bank (“KHCB”) and GFH Financial Group (“GFH”) announcement regarding the issuance of Sukuk worth USD 159 million by KHCB as a first tranche to support capital base, it is to be clarified that GFH has fully underwritten the issuance in reference.

As stated earlier, the successful closing of the AT1 will strengthen the financial position of the Group’s subsidiary which will invest in enhancing its e-Banking channels, and compete with its peers for a bigger market share. This will have a positive impact on the Group’s financial position and profitability reflected by the growth of its subsidiary.