Bahrain's GFH inks deal to hold majority share in Sharia investment firm
GFH Financial Group announced that it has acquired an additional 21.8% stake in Global Banking Corporation. The deal gives GFH a majority stake of 50.4% in the Bahrain-based investment bank following Central Bank of Bahrain approval to acquire up to a 60% shareholding. Established in 2007, GB Corp targets high-net-worth individuals and institutional and government clients across the GCC countries. As of December 2019, GB Corp reported total assets of $125 million and assets under management of approximately $500 million.
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