DUBAI: Shuaa Capital, a leading financial services firm in the UAE, has concluded a 14 per cent of ownership stake in Khaleeji Commercial Bank (KHCB), the subsidiary of Bahrain-based GFH Financial Group, a leading Islamic retail bank. KHCB is considered one of the fast growing commercial banks in the region, with a paid up capital of BD105 million ($278.48 million) and total assets of BD709 million.
Jassim Al Seddiqi, chairman of Shuaa Capital, said: “We are very delighted to have completed this important transaction of 14 per cent in KHCB. It is considered to be one of the fast growing Islamic banks in the region, and we will further drive this growth by support from Shuaa Capital and Abu Dhabi Financial Group (ADFG).” “It is with no doubt that the shareholders’ value will see substantial growth if KHCB obtains final approvals to list on the Dubai Financial Market,” he added.
