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Gulf Finance House Appoints Bahraini Banker Hisham Alrayes as Acting Chief Executive Office

Manama, Bahrain 17 April 2012 - Gulf Finance House BSC ( GFH or the Bank), the Bahrain-based Islamic investment bank, today announced the appointment of Hisham Alrayes to the position of Acting Chief Executive Officer. Mr Alrayes is currently the Chief Investment Officer at GFH and will take up his new position with immediate effect.

In his new position, Mr. Alrayes will be responsible for overlooking the overall performance of the bank, setting the bank's strategic direction, management of the bank's assets and liabilities, and managing the communications with shareholders. His responsibilities will also include the bank's direct operations, subsidiaries and investments under management.

Commenting on the appointment Mr Esam Janahi, Chairman of GFH said: "Hisham has been with Gulf Finance House in a number of capacities over the years, and has proven himself to be a key player throughout this time, contributing positively both during the economic boom and the financial recession. He was actively involved in the Bank's restructuring process, especially with the restructuring of the bank's debts and in driving the bank back to profitability. I am confident that his credentials, knowledge and investor experience will enable him to continue to create significant shareholder value and profitability for the bank going forward."

Acting Chief Executive Officer, Hisham Alrayes said: "I would like to thank the Board of Directors for the trust and confidence they have extended to me with this appointment. This year, our objective at GFH is to focus on sustainable business growth through developing and extracting additional value from our current projects and assets, generating returns for shareholders while protecting their investments and ensuring stability with continuous business growth. This will help facilitate steady sources of income for all our stakeholders.

I am very excited about the prospects for GFH going forward and am determined to strengthen our different lines of business by extending our capabilities to the regional and international markets. I would also like to extend my sincere thanks to the Central Bank of Bahrain for their continuous support, which has proved invaluable," he added.

Mr Alrayes joined Gulf Finance House in May 2007, and holds a Master in Business Administration from University of DePaul - Charles H. Kellstadt Graduate School of Business, Chicago, USA. In addition to his role as Action CEO of GFH , Mr. Alrayes is currently Chairman of Cemena Holding Company, Gulf Holding Company and Bashaer Fund.

About Gulf Finance House
Since its establishment in 1999, Bahrain based Gulf Finance House ( GFH ) has been a driving force in the development of regional Islamic financial institutions and infrastructure projects across the Middle East. Its shares are listed on the Kuwait Stock Exchange, the Bahraini Stock Exchange, the Dubai Financial Market and the London Stock Exchange in the form of a GDR. It has been responsible for the creation of leading Middle Eastern financial institutions such as First Energy Bank, QInvest, Syria Finance House, Inovest, Khaleeji Commercial Bank and Arab Finance House. In addition, GFH has created a wide range of significant economic infrastructure projects across the MENA region and beyond.

GFH is currently transitioning to a new business model which will see the business focus on becoming a global leader in the creation and development of Islamic financial institutions.

For further information please contact:
Amal Turki
Head of Corporate Communications
Tel: +973 17538538
Email: aturki@gfh.com
Website: www.gfh.com

© Press Release 2012

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