GFH Financial Group announces that its Banking Subsidiary, Khaleeji Commercial Bank BSC, has successfully finalized issuance of Sukuk worth USD 159 million, after obtaining the approval of regulatory authorities and the Extraordinary General Assembly held at the beginning of this year whereby the shareholders supported the Bank to issue Sukuk as Additional Tier 1 (“AT1”) Capital up to USD 200 million. This move comes as part of continued efforts in supporting the Bank’s capital base, and contributing to the achievement of intermediate objectives as per the Bank’s new strategy.

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.