Mubasher: GFH Financial Group is planning to increase its assets under management (AUM) to $15 billion from $6.5 billion, the CEO of GFH Hisham Al Rayes said.

Al Rayes confirmed GFH’s intention to invest in high-liquidity assets in the US where the Bahraini financial group has current investments estimated at $600 million, CNBC Arabia reported.

The step of raising GFH’s AUM followed the Central Bank of Bahrain’s (CBB) approval for selling the real estate portfolio of a value ranging from $600 million to $1 billion.

Al Rayes told CNBC Arabia that the exit will be executed in two phases; one in cash while the second phase will be collected over five years.