Latest news with #GFHFinancialGroup
Arabian Business
6 days ago
- Business
- Arabian Business
Al Salam Bank exits its 15.6% shareholding in Seef Properties
Al Salam Bank, the largest Islamic bank in Bahrain, said it has sold its 15.6 per cent stake in Seef Properties to GFH Financial Group, another Bahrain-based company. In a filing with Dubai Financial Market (DFM), where it is listed, Al Salam Bank said the exit forms 'part of a broader group optimisation strategy designed to expand and reinforce focus on core banking operations and its holdings in banking, takaful, and asset management'. Launched earlier this year with a starting AUM (assets under management) of US$4.5 billion, ASB Capital, the group's asset management arm, was appointed as sell-side advisor and mandated to assist in sourcing, structuring, and executing the exit of its significant minority stake in Seef Properties. Rafik Nayed, Group Chief Executive Officer of Al Salam Bank and Managing Director of ASB Capital, commented: 'This transaction represents our continued commitment to exit non-strategic holdings as part of a group-wide optimisation initiative. Aligned with our strategy, we are reallocating capital and focussing towards growing core banking operations and expanding our strategic holdings in banking, takaful, and asset management – sectors that offer long-term value and operational synergies within the context of the group. 'ASB Capital's role in facilitating the transaction underscores the strength of our expertise and execution capabilities in transaction advisory and capital markets. Backed by a strong pipeline from both local and regional institutional clients spanning private equity, syndications, capital instruments, and advisory services, ASB Capital is well-positioned to build on the growing momentum in regional deal activity.'
Zawya
7 days ago
- Business
- Zawya
Bahrain's GFH Financial raises stake in Seef Properties to nearly 30%
Manama-headquartered GFH Financial Group has increased its stake in Seef Properties to nearly 30%, reinforcing its ownership in one of the major players in Bahrain's real estate sector. The investment firm confirmed on Tuesday that it has acquired additional 15.63% of shares in the real estate development and commercial centre management company, bringing its total shareholding to 27.98%. Last year, GFH acquired a little over 12% stake in Seef Properties. 'This step aims to create additional value for our shareholders within the real estate portfolios operating in the same sector,' said Hisham Alrayes, CEO and Board Member of GFH. Managing more than $22.48 billion in assets and funds, the company is listed on four stock exchanges, including the Bahrain Bourse, Boursa Kuwait, Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM). (Writing by Cleofe Maceda; editing by Seban Scaria)
Khaleej Times
26-05-2025
- Business
- Khaleej Times
UAE markets show resilience amid global trade optimism
The UAE's financial markets displayed cautious optimism this week, with the Dubai Financial Market (DFM) General Index climbing 0.37 per cent and the FTSE ADX General Index edging up 0.07 per cent. The modest gains reflect a broader global market pause, driven by US President Donald Trump's decision to extend the deadline for proposed 50 per cent tariffs on EU goods until July 9, 2025. This move has fuelled hopes that trade tensions, which have loomed over global markets, may be easing, providing a temporary boost to investor sentiment in the UAE and beyond. In Dubai, the stock index reached a 17-year high last week, underpinned by robust first-quarter earnings and a thriving non-oil economy. Investors increasingly favour UAE stocks over the larger Saudi market, drawn by the country's economic diversification and resilience. Abu Dhabi's market, while quieter, saw steady trading, supported by rising oil prices and limited corporate developments. Aldar Properties, a key player in Abu Dhabi, reported strong revenue from a recent project, though its shares dipped slightly. Similarly, GFH Financial Group maintained a positive outlook from FAB Securities, buoyed by solid Q1 results, despite minor share price declines. The UAE's markets are navigating a complex global landscape. Trading volumes remained subdued due to holidays in the US and the UK, but the extension of the EU tariff deadline has provided a reprieve. Josh Gilbert, a market analyst at eToro, noted that investor sentiment has strengthened over the past month, with markets looking past the 'trade war noise'. He emphasised that the provisional trade truces with the EU and China signal progress, though the lack of permanent resolutions keeps the risk of escalation alive. 'The willingness of the US administration to negotiate is encouraging, but without structural changes to tariff policy, uncertainty persists,' Gilbert said. Regionally, the UAE boosted its financial ties with Azerbaijan through a new agreement aimed at enhancing regulatory exchanges. This deal underscores the UAE's strategic push to deepen economic collaboration, potentially influencing sectors like banking and investment in the coming months. The accord aligns with the UAE's broader vision to position itself as a global financial hub, leveraging its stable economic environment and strategic geographic position. Globally, markets reflected similar optimism. Japan's Nikkei 225 surged over 1.7 per cent, driven by hopes of a US-Japan trade deal, while EuroStoxx futures rose 1.6 per cent, and S&P 500 futures gained about 1.0 per cent, according to Ipek Ozkardeskaya, senior analyst at Swissquote Bank. She highlighted the significance of the postponed EU tariff deadline, which gives European officials until July 9 to negotiate. However, Ozkardeskaya cautioned that upcoming economic data, including May flash inflation figures from major European economies and the US Personal Consumption Expenditures (PCE) report, will be critical in shaping market trajectories. A stronger euro may have mitigated the impact of rising oil prices, she noted, but inflationary pressures remain a concern. Despite the positive sentiment, risks persist. Last week's unexpected tariff threat on Apple underscored the unpredictability of US trade policy under Trump, a dynamic that continues to challenge markets. Gilbert pointed out that while trade progress supports risk assets, investor focus remains on dominant tech stocks, with dip-buying evident during pullbacks. Nvidia's upcoming earnings report is expected to be a key market catalyst, potentially influencing global and UAE investor sentiment. According to market analysts, the UAE's markets are well-positioned to capitalise on their non-oil growth and regional financial partnerships. However, their trajectory will depend on global trade outcomes and economic indicators. As negotiations continue and key data releases loom, UAE investors remain cautiously optimistic, balancing local strengths with global uncertainties, they said.
Biz Bahrain
22-05-2025
- Business
- Biz Bahrain
GFH Launches Next Generation of Conversational AI Assistant
GFH Financial Group (GFH) recently announced the launch of the next generation of its investment app with the release of a conversational voice feature for its AI-powered assistant, the GFH AI Assistant, becoming the first investment bank in the region to roll out a fully voice-operated conversational AI assistant, enabling users to manage their investments simply by speaking to the app. The initiative comes within GFH's constant strive to embrace cutting-edge financial technologies and industry-leading security measures, ensuring clients enjoy a seamless and highly protected investment journey, from registration and onboarding to real-time portfolio management. The enhanced AI assistant is powered by OpenAI and offers instant intelligent responses, creating a highly intuitive and responsive user experience, and offering an all-in-one fully digital investment experience. The launch of the upgraded AI assistant builds on the Group's ongoing digital transformation strategy and further enhances its position as one of the leading investment banks in the GCC region, where it was recently honoured with two prestigious regional awards for leadership in digital banking and fintech solutions Commenting on the occasion, Mr. Osama Nasr, Chief Digital Banking Officer of GFH, said: 'We are delighted to introduce the next generation of the GFH AI Assistant — the first voice-enabled AI assistant of its kind among investment banks in the GCC. This enhanced version allows users to engage in natural, hands-free conversations to check their portfolio performance, inquire about expected returns, or explore new investment opportunities – anytime, anywhere. We're excited for our clients to experience the future of intelligent investing with the GFH AI Assistant.' He added: 'Our goal is to lead the region in digital innovation by bringing the future of investing into our clients' hands today. With this new conversational AI feature, we're removing barriers and making digital investing as simple and intuitive as having a conversation. It's about creating a more connected and effortless experience for our investors – in line with our commitment to delivering solutions that align with their needs and how they choose to engage with their finances.' Additionally, investors can access the GFH Wakala Account through the app, offering expected monthly returns of up to 7% per annum with monthly profit distribution exclusively available to individual investors. The app also supports a wide range of secure payment methods, including cryptocurrency, providing users with maximum flexibility in how they invest. The upgraded GFH AI Assistant is now available through the updated GFH app, downloadable via the Apple App Store or Google Play Store, and it is open to all GCC nationals and residents.
Biz Bahrain
19-05-2025
- Business
- Biz Bahrain
The BIBF and GFH Financial Group announce strategic collaboration
The Bahrain Institute of Banking and Finance (BIBF), the region's premier training and development provider, and GFH Financial Group (GFH), a leading Islamic financial institution headquartered in Bahrain, are proud to announce a strategic partnership to develop a groundbreaking book on Islamic Capital Markets. This collaboration underscores both organizations' commitment to advancing knowledge, fostering innovation, and strengthening Bahrain's position as a global financial hub. The project, a comprehensive book, aims to provide an authoritative resource on Islamic capital markets, blending academic rigor with practical insights. The book will feature various chapters and relevant case studies, with a focus on real-world applications. The book will serve as a vital resource for professionals and institutions, reinforcing Bahrain's leadership in Islamic finance education and innovation. The BIBF's Chief Executive Officer, Dr. Ahmed Al Shaikh, commented: 'We are thrilled to partner with GFH Financial Group on this transformative project. This collaboration aligns with our mission to deliver world-class education and thought leadership in Islamic finance. By combining the BIBF's expertise in training and advisory with GFH's pioneering contributions to the industry, we aim to produce a definitive resource that will empower professionals globally.' GFH Financial Group's Chief Operating Officer, Mr. Salah Sharif, added: 'GFH is proud to support this initiative, which reflects our commitment to fostering innovation and sustainable growth in Islamic finance. By contributing our real-world insights and expertise, we aim to create a lasting impact on the global financial community while reinforcing Bahrain's role as a leading financial hub.' The book is expected to be completed by the end of 2025 and will be distributed to academic institutions, financial organisations, and industry stakeholders worldwide
