Dubai – Mubasher: GFH Financial Group plans to expand into the Saudi market and arrange for listing on the Saudi Stock Exchange (Tadawul), the recently appointed chairman of GFH, Jassim Alseddiqi, told CNBC Arabiya.

Alseddiqi clarified that GFH currently focuses on the geographic expansion in the UAE and Saudi Arabia.

The Bahrain-based Islamic investment bank has enough liquidity to execute expansion plans in different fields, the chairman said.

He noted that GFH’s board members will not approve raising the capital without merger conditions.

On Sunday, 25 February, GFH announced the appointment of Jassim Alseddiqi as its new chairman, as a replacement to Shaikh Ahmed Bin Khalifa Al Khalifa.