GBCorp wins top IFN award
Dubai, March 9, 2010
Global Banking Corporation (GBCorp) was recently honoured with the ‘Best Islamic Bank’ in Bahrain award, by Islamic Finance News in Malaysia, a specialised Islamic finance magazine.
GBCorp, an investment bank incorporated in Bahrain in 2007, has emerged as a strong and diversified investment bank.
GBCorp was named the 'Best Islamic Bank in Bahrain' in Islamic Finance news (IFN) Awards Polls - the most transparent, definitive and competitive awards in Islamic finance.
“The fact that the award came as a result of a 2009 poll gives us more leverage as it reflects industry perception and acknowledges our efforts in effecting a positive turnaround amidst the ongoing economic crisis,” said Abdul Rahman Mohammed Al-Jasmi, managing director of GBCorp.
“GBCorp has always been a client centric bank. Since the economic climate deteriorated, we have focused all the more on keeping our investors informed and updated on all investments that they had made through us, ensuring total transparency. Investors have benifited from our consolitated efforts on risk mitigation measures in compliance, operational, financial and strategic risk,” stated Ahmed Al Khan, senior executive director, head of Investment Banking at GBCorp.
“Moving away from the volatile markets, and focusing on definitive sectors such as telecom, healthcare, agriculture, energy and infrastructure. We have recently launched Diyafa Holdings, our first foray into the hospitality and business services sector. We have also established a footprint in the telecom sector in India, acquiring an 11 per cent stake in S-Tel, in strategic partnership with Batelco. Historically, these sectors have proven to offer greater resilience,” he added.-TradeArabia News Service