GFH aspires to complete file for Saudi listing this year, says CEO

Hisham Alrayes, CEO of GFH Financial Group

GFH Financial Group hopes to complete the file for listing in the Saudi market this year, if the company’s new disclosure system is accepted in the Kingdom, CNBC Arabia reported, citing Group Chief Executive Officer Hisham Alrayes.

There are minor differences in disclosure standards between Saudi Arabia and Bahrain, where some exemptions are required to be obtained to keep up with the conditions, Alrayes said, indicating that the group is working to finalize this.

The group obtained preliminary approvals from the Central Bank of Bahrain, and approvals will be obtained from the shareholder during the next general assembly. Following this, the group will work to obtain approvals for the listing file in Saudi Arabia, the CEO said.