Global Banking Corporation honoured with the CPI Financial ‘Best New Bank’ Award

Manama, Bahrain, January 14th, 2009: Global Banking Corporation B.S.C (c) (GBCORP) the Bahrain based Islamic Investment Bank was today, honoured with the Islamic banking and finance ‘Best New Bank’ award by CPI Financial.

Announcing the award, Ahmed Al Khan, Head of Investment banking at GBCORP said: “This award is a reaffirmation and recognition of our business strategies. Since its inception, GBCORP has focused on human capital as its greatest strength, advocating and adopting a pragmatic policy that encourages innovation and facilitates global investment opportunities through building partnerships for mutual development.” “We are extremely honoured to receive this award and believe it is testament to the expertise of our multinational team with experience in diverse product portfolio and a determination to make a difference. GBCORP is actively pursuing several investment avenues that will add great value to our portfolio of

Shari’a compliant services and benefit our highly valued investors. We understand the challenges in the market and we have the right business fundamentals to address the market needs, he added.”The award was presented to GBCORP at a glittering award ceremony and dinner held at the Godolphin Ballroom, Emirates Towers, in the presence of industry leaders from the region’s business, banking and financial sector. Mr.Al Khan noted that despite challenging market conditions, GBCORP is well positioned with the right expertise and sound financial structure to capitalize on opportunities within the region and globally. “But this does not mean that we can totally insulate ourselves from the effects of the current market crisis.

Developing the right strategies and catalyzing growth opportunities, is the only way forward in these cataclysmic market conditions,” he said. He emphasized that by strictly adhering to the Central Bank of Bahrain’s regulatory policies in keeping with Basel II norms, GBCORP has been able to withstand the current crisis. “Islamic banking might not have all the answers to such a crisis but it is certainly better positioned and can work in conjunction with conventional banking to build strong ‘regulatory bridges’ and to ensure that we have better regulatory guidelines, structured along ethically-aware Islamic principles,” he added. Global

Banking Corporation B.S.C (c) (GBCORP), started operations in Bahrain in June 2007 with an authorized capital of US$500 million. GBCORP has set itself the challenging vision to be the leading investment bank in the GCC with global reach, characterized by the ability to merge international investment excellence with local expertise and with an underlying commitment to provide Shari’a compliant investment banking services for high net worth individuals & families, corporate and government clients.