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GFH announces strategic partnership with Macquarie.

Summary: Gulf Finance House (GFH GFH Ghetto Fighters' House (Holocaust museum and archives in Israel)
GFH Granular Ferric Hydroxide (trademark of Siemens AG)
GFH George Frederic Handel (composer; 1685-1759) 
), a leading Middle Eastern Islamic investment bank, today announced that it intends to establish a joint Islamic financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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 platform in the Middle East with Macquarie Group Limited (Macquarie), a global provider of banking, financial, advisory, investment and funds management services. The platform will offer a broad range of wholesale Shariah compliant financial services solutions to the Middle East and North Africa (MENA MENA Middle East & North Africa
MENA Middle East News Agency (Arabic Wikalat Al-Anbaa' Al-Sharq Al-'awsat)
MENA Medium-Energy Neutral Atom
MENA Mammalian Enabled
MENA Mission Element Need Analysis
) region.

Gulf Finance House (GFH), a leading Middle Eastern Islamic investment bank, today announced that it intends to establish a joint Islamic financial services platform in the Middle East with Macquarie Group Limited (Macquarie), a global provider of banking, financial, advisory, investment and funds management services. The platform will offer a broad range of wholesale Shariah compliant financial services solutions to the Middle East and North Africa (MENA) region.

The proposed partnership, which is subject to board, internal, and regulatory approvals of both companies, includes a joint presence based in the region and approximately USD USD

In currencies, this is the abbreviation for the U.S. Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
100m convertible murabaha investment by Macquarie in GFH as part of GFH's current capital management initiatives.

The proposed partnership is the subject of a confidential memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment.  signed by the parties in a private ceremony in Bahrain today.

Commenting on today's announcement, GFH CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Ahmed Fahour Ahmed Fahour is an Australian of Syrian descent,[] and is the Chief Executive Officer of the Australian operations of the National Australia Bank (NAB).

The eldest son & child of immigrant Syrian parents, he studied at St Joseph's College in North Fitzroy, and
 said, 'The strategic partnership with Macquarie represents an exciting opportunity as we look to continue the bank's diversification into new geographies and opportunities.'

'Today's announcement is an exciting step towards realizing GFH's long term objective of establishing a truly world class Islamic investment bank. The strategic relationship would bring together GFH and Macquarie to create the standard in Sharia compliant products and services for the MENA region.'

2009 Al Bawaba (www.albawaba.com)

2009 Al Bawaba (Albawaba.com)

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Title Annotation:Gulf Finance House; Macquarie Group Limited
Publication:Mena Report
Date:Aug 24, 2009
Words:295
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