IslamicFinance.de

Bahrain-based Islamic investment bank GFH Financial Group has repaid $45 million worth of debt, bringing its total syndicated liabilities down to $105 million. This is the latest effort by GFH to deleverage, having held liabilities of over $1 billion back in 2008. In June GFH planned to raise $150 million via sukuk to repay outstanding debts and use surplus cash for future investments. Together with Abu Dhabi Financial Group, GFH is working to establish an Islamic financial institution in Abu Dhabi's financial free zone with authorised capital of $100 million.