"Bahrain-based investment firm Gulf Finance House (GFH) hopes a leaner balance sheet and a revamped business model can revive the fortunes of a firm which once symbolised growth of the kingdom's Islamic finance sector.
GFH's new strategy calls for it to become more involved in its investments, and to hold projects until completion rather than passing them to third parties to develop as was done in the past, its acting chief executive said in a telephone interview.
For several years a hands-off approach worked well for the sharia-compliant investment house, which was founded in 1999. Strong global markets allowed it to book healthy premiums in the stakes it sold in real estate projects."
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