Financial Group has announced the conclusion of its annual general meeting and extraordinary general meeting for the financial year ending Dec.
An official list released by the DILG's Bureau of Local Government Supervision showed that 1,470 LGUs have complied with the GFH
Financial Group (GFH
) is to acquire USD200m of Villamar Sukuk Company Limited's sharia-compliant sukuk certificates from Al Rajhi Bank.
statement yesterday said the Villamar Sukuk Company Limited Sharia-compliant sukuk certificates were issued in 2008 to finance the Villamar project in Bahrain Financial Harbour.
Since its inception in 1999, GFH
financial Group ("GFH
" or "the Group") has been powering investments with a clear vision to develop a diversified and commercial portfolio that would shape the future.
Jassim Al Seddiqi, Chairman of the Board of GFH
, said the repayment, GFH
frees up further assets pledged under the Sukuk for potential disposal.
The transaction saw the existing financial investors fully exit, while the founder and chairman, Donna Benton, continues as one of the key shareholders and part of its executive management team, 'contributing to the vision and growth of the company' alongside GFH
assessment was finished and approved on March 22, 2018.
Shareholders also approved the group's 2017 financial results, which saw GFH
report a strong net profit of $104.2 million for the year, reflecting significant year-on-year growth in all areas of the business when excluding one-off income recorded in 2016.
Shareholders also approved the Group's 2017 financial results, which saw GFH
report strong net profit of US$104.2 million for the year, reflecting significant year-on-year growth in all areas of the business when excluding one-off income recorded in 2016.
Commenting on his appointment, Alseddiqi said: "GFH
has performed exceptionally well in the last two years and has returned more than $200m (BHD75.4m) to its shareholders in the form of dividends, bonus shares, and treasury share purchases.
Al Seddiqi is currently the managing director and chief executive officer of Abu Dhabi Financial Group (ADFG), which holds 13 per cent stake in GFH
through Integrated Capital.