Bahrain-based Gulf Finance House (GFH) on Tuesday said Nooruddin’s family consortium led by Salah Nooruddin has acquired a significant stake (5.71%) in GFH.
Salah Nooruddin is a prominent business player in the Bahrain market with a successful family track record in the field of Banking and Financial Services. Nooruddin participated with GFH in the newly undertaken investment opportunities including the investment in the Leeds United Football Club where he serves as the Club’s Chairman.
As advised by Salah Nooruddin, the main drive for this acquisition is the potential business value of GFH and the Bank’s performance thus far. Nooruddin intends to bring his 25 years banking experience to the Bank by joining its Board of Directors, after receiving the required approval from the Central Bank of Bahrain.
Dr. Ahmed Al Mutawa, the Chairman of GFH, welcomed Nooruddin’s participation and the confidence shown towards GFH’s potential. “GFH look forward for a successful relationship with the new shareholder,” he added.