KFH-Bahrain wins top award for merger role
Manama, May 26, 2013
Kuwait Finance House - Bahrain received the Best Investment Advisory Service 2013 Award from CPI Financial for its role as the lead and transaction adviser for the three-way bank merger in Bahrain that was completed last December.
KFH-Bahrain, since late 2011, worked as lead and transaction adviser for the merger between three Bahrain-based Islamic banks, Elaf Bank, Capital Management House and Capivest, creating a strengthened financial institution with total equity exceeding $300 million and total assets in excess of $400 million spanning Mena, Europe and Asia, said a report in the Gulf Daily News.
"Winning this prestigious award proves the market's understanding of the need to create stronger entities, as this is the first ever merger of its kind that has resulted in creating a robust merged entity that is positioned to better compete in the dynamic and growing global Islamic banking and investment industry," said KFH-Bahrain chief executive Abdulhakeem Alkhayyat.
"The successful completion of this transaction is a great achievement for us and we will continue our vision and strategies in contributing towards the economic growth and sustainability of Bahrain. We consider this accolade as another milestone.
This annual event is organised by CPI Financial based in Dubai. CPI is the leading publisher of financial magazines in the Middle East, Banker Middle East, Islamic Business & Finance and Private & Hedge Funds Middle East.
The Islamic Business and Finance Awards have been designed to encourage, inspire and reward excellence within the global Islamic business and finance community and they have become the yardstick by which Islamic finance institutions and practitioners across the globe measure themselves. – TradeArabia News Service
More Finance & Capital Market Stories
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’