IslamicFinance.de

Gulf Finance House (GFH) has struck a $150 million deal to sell part of its educational assets to a global private schools operator called Inspired. Inspired runs private schools in Europe, Africa, Latin America and Australia. Hisham Al-Rayes, CEO of GFH, said Inspired’s network and experience would add significant value to the schools. This way, both students and teachers will take part in exchange programs and benefit from the latest programs to enhance the level of education. Inspired has schools in Italy, the UK, Switzerland, Belgium, South Africa, Kenya, Australia, Colombia and Peru. GFH’s businesses include asset management, wealth management, commercial banking and real estate development.

Bahrain’s GFH Financial Group is considering a listing in Saudi Arabia. CEO Hisham al-Rayes said the Group was also keen to participate in Saudi Arabia’s privatisation programme in sectors such as education and healthcare. He added that GFH was looking at asset management and private equity sector as sectors to acquire. Al-Rayes also disclosed that GFH was in talks with an unnamed financial services company in the Gulf. GFH's acquisition of Dubai-based Shuaa Capital was postponed due to a failure to reach acquisition terms and a lack of initial regulatory approval.

GFH Financial Group plans to list its Bahraini subsidiary Khaleeji Commercial Bank in Dubai and acquire a financial services company to increase shareholder value. GFH's CEO Hisham al-Rayes said the company wants to regarded by investors as a financial holding company rather than an investment bank. The company aims to generate around 15% of its income over the next two years from real estate investments, which will be managed by a new Dubai-based operation called GFH Real Estate.