Adam Broom, Chief Executive Officer of CPI Financial presented the award to Abdulhakeem Alkhayyat, MD and CEO of KFH-B accompanied by Ahmad Saeed, Executive Manager at KFH-Bahrain along with Rashid Alkhan and Riaz Mohamed, senior members of KFH-B’s investment team.
KFH-B, since late 2011, worked as lead and transaction sdvisor for the merger between three Bahrain-based Islamic banks, Elaf Bank, Capital Management House and Capivest, creating a strong financial institution with total equity exceeding $300 million and total assets in excess of $400 million spanning the Middle East and North Africa, Europe and Asia.
“Winning this prestigious award proves the market’s understanding of the need to create stronger entities, as this is the first ever merger of its kind that has resulted in creating a robust merged entity that is positioned to better compete in the dynamic and growing global Islamic banking and investment industry,” Abdulhakeem Alkhayyat, said.
“We are thankful to God for successfully completing this transaction and we will continue our vision and strategies in contributing towards the economic growth and sustainability of Bahrain. We consider this accolade as another milestone for which we thank God, the support of the Board of Directors in addition to the employees who have strived to make this a success,” Alkhayyat added.