AMMAN, 25 May 2007 — Kuwait Finance House-Bahrain (KFH-Bahrain) has announced plans to establish a $50 million investment bank in Jordan. The investment bank will be a wholly-owned subsidiary of KFH-Bahrain and will be called Kuwait Finance House-Jordan (KFH-Jordan).
“We are very pleased about the establishment of Kuwait Finance House-Jordan. KFH-Jordan will be part of the global KFH network in Kuwait, Bahrain, Turkey, and Malaysia; giving the proposed company a large network and access to financial resources that will serve the main purpose of investing in the Jordanian Economy.” said Bader Al-Mukhaizeem, chairman and managing director of Kuwait Finance House, said at a press conference during the World Economic Forum (WEF) held here on Saturday.
Abdulhakeem Alkhayyat, general manager of KFH-Bahrain, said “KFH-Bahrain is pleased to announce the plans of the establishment of KFH-Jordan. The project reflects our commitment to expand our investments and grow both regionally and globally.”
As a wholly-owned subsidiary of KFH Bahrain, it will have access to large financial and specialized resources. KFH-Jordan will be incorporated under the laws of the Kingdom of Jordan and will perform activities such as investment banking, investment advisory, acquisitions and development of investments, investments in private equity key market industries, general key player in the Jordanian market.
KFH-Jordan shall contribute to the growing foreign direct investments in Jordan, and the regional Economy in general. Recently Jordan has witnessed a major increase in foreign investments, mainly in the manufacturing and hotel & lodging industries.
KFH-Bahrain has entered in various and strategic investments in several countries, including Bahrain, New Zealand, Australia, Turkey, United Kingdom, Jordan, and the United States of America. The Bank has also major real estate investments in Bahrain expected to reach $12 billion over the next 10 years.