#Bahrain's GFH says may buy control of Bank Al Khair
Bahrain-based Islamic investment bank GFH Financial Group (GFH) has signed a memorandum of understanding to buy a majority stake in Bank Al Khair. Founded in 2004, Bank Al Khair is an Islamic bank with total assets of $580.5 million as of March 2016. The deal is subject to approval by the boards of directors and shareholders of the banks, as well as completion of due diligence and regulatory approvals.
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