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Amrahbank selected as an official investment distributor of Gulf Finance House (R)

Amrahbank selected as an official investment distributor of Gulf Finance House <font color=red> (R)</font>

29 April 2009 11:52 (UTC +04:00)

In March 2009 Amrahbank JSC (the â€˜Bankâ€™) and Gulf Finance House B.S.C. (â€˜GFHâ€™) signed a cooperation agreement on distribution of investment products.

Amrahbank will cooperate with GFH as a distributor of its investment products in Azerbaijan and Kazakhstan. The Bank will assist GFH in marketing its major investment projects for Azerbaijani investors. Furthermore GFH will cooperate with Amrahbank in studying and selecting interesting investment projects in Azerbaijan. This is a major step made by the Bank in expanding business ties between Azerbaijan and Middle East.

Gulf Finance House with its headquarters in Bahrain and London is one of the most successful and innovative Islamic investment banks in the Middle East. GFH specializes in the identification and development of initiatives that unlock opportunity and accelerate economic growth.. With a focus on the conception and delivery of high value economic infrastructure projects currently valued at over US $20 billion GFH is set for another watershed year. Since 1999, flagship initiatives have included the launch of Energy Cities in Qatar, Libya and Kazakhstan, series of Financial Harbors in Bahrain and Tunisia, and the largest GFH concept to date, the US$ 10 billion Mumbai Economic Development Zone. Elsewhere, GFH have announced First Energy Bank, the worldâ€™s first Islamic investment bank offering tailored energy based finance. GFH has won numerous local and international awards, such as â€œBest Investment Bankâ€ in 2005, 2006 and 2007, awarded by The Banker Middle East; â€œBank of the Year 2006â€ awarded by the Arabian Business Magazine, and â€œBest Islamic Real Estate Finance Houseâ€ awarded by Euromoney.

Amrahbank is one of the oldest (est 1993) and leading commercial banks of Azerbaijan. It offers wide range of retail and corporate banking products such as deposits, loans, money transfers, documentary transactions, investment advisory and etc. Amrahbank is one of the most profitable banks of Azerbaijan (ie top 3 in terms of Return on Equity - 31 Dec 2008) and has one of the largest branch networks across different regions of Azerbaijan (top 8 in terms of branch network â€“ 31 dec 2008). The Bank is a member of various professional organizations such as Deposit Insurance Fund, Mortgage Fund, The National Business Assistance Fund, Azerbaijan Banks Association, and etc. Recent strategic partnership with International Investment Bank (through 49% shareholding), based in Bahrain, has played a key role in further developing many areas of Amrahbank such as corporate governance, international cooperation, array and quality of products and services, etc.