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Mon 29 Jan 2007 08:44 PM

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Islamic bank plans London listing

Bahrain's Gulf Finance House is setting up a London office with a view to listing on the local stock exchange.

Gulf Finance House (GFH) is setting up a London office with a view to listing on the local stock exchange.

GFH, which has provided backing for projects ranging from Bahrain Financial Harbour to the Legends theme park complex in Dubailand, is an Islamic investment bank that operates like a private equity firm for wealthy Arab businesspeople.

It was founded in 1999 by the Janahi family.

The bank's stock is already traded in Bahrain, Kuwait and Dubai, and now plans a London listing to position itself as a major deal broker in the UK and Europe.

The London operation will be headed by Joe McCrane, who was previously employed at the Royal Bank of Scotland's Development Capital arm.

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