Overview

The beginning

The genesis of Gulf African Bank (GAB) can be traced back to 2005 when a group of motivated Kenyans envisioned establishing an islamic bank as an alternative to conventional banking in the country.

By conducting business on the principles of Shari'ah, the bank would provide an ethical and fair mode of banking for all.

The bank would also leverage the strong historical links between the Gulf and Africa to establish a channel for attracting investments into Kenya. The Bank's name – Gulf African Bank – would become a symbol of this partnership between the Gulf and Africa.

Today this vision has become a reality.

Your bank

Gulf African Bank is Kenya's first fully Shari'ah compliant bank, offering products that address the needs of not just Muslims, but everyone in the country. Whether you are an individual or a corporate / institutional client, we can provide you with the full range of banking services.

Why choose Gulf African Bank?

Gulf African Bank is set to revolutionise your banking experience in Kenya. Our business is based on the core principles of ethics and fairness and we shun undue commercial enrichment at the expense of you, our customers. It is these principles that will make Gulf African Bank the ideal choice for you and for all sections of Kenyan society.

The Bank will be promoted by premier and well-respected Gulf-based institutions along with prominent institutional and individual investors from Kenya. The shareholders are fully committed to the vision of growing the bank into a strong regional financial institution and have accordingly well capitalized the Bank.

Shareholders will represent various nationalities and regions and will include many Kenyan investors; the shareholdings will be adequately diversified.

With Gulf African Bank you can rest assured that your finances are managed by a team of dedicated, professional and experienced bankers who have committed themselves to this model of banking. The Bank is fully geared to meet the challenges in the market. The Bank, on the strength of its highly motivated staff and backed by state-of-the-art information technology platform, is capable of delivering on our promise of providing you with first-class services and adding value to the Kenyan economy by attracting investments.

Commitment to excellence

Gulf African Bank is more than just a financial services provider. We are your partner in growth. The foundation of our belief and constant endeavour to ensure excellent customer service lies in our philosophy of operating with a relationship management style that focuses on you, the customer and provides personalised banking solutions with a commitment to add value to all your endeavours.

Our employees - our most valuable asset

Gulf African Bank is an equal opportunity employer. We realise that our human capital is the most important and valuable asset that we possess. We therefore will provide our employees with long-term career opportunities to encourage them to grow with us. We will invest adequately in training and human resource development to ensure that employees progress over time, are appropriately rewarded for their efforts and emerge as the best in the industry.

Our image – first for you

We strive to be identified as the first in Kenya and the foremost in the region in Shari'ah compliant banking. Our brand will stand for ethical world-class banking, economical empowerment of our customers, partnership, social responsibility and superior performance.

Whenever we communicate with you, our customers, whether in our advertisements, brochures, leaflets or letters, we will strive to be honest, informative, and ethical, thereby enabling you to make informed decisions that suit your circumstances and meet your needs.

Our shareholders – A solid commitment

Gulf African Bank truly is your solid financial partner. We enjoy the backing of strong shareholders who are fully committed to creating a solid bank characterized by growth and the very latest products riding on robust technology and delivered with internationally benchmarked standards of service quality.

Institutional Investors account for around 90% of the shareholding with the balance being prominent Kenyan investors in their individual capacity.

Profile of our eminent shareholders:

Istithmar PJS, a major investment house based in the United Arab Emirates focusing on private equity, real estate and strategic investments, is part of Dubai World - the investment arm of Government of Dubai. Prominent recent investments made by Istithmar include strategic stake in Standard Chartered Bank plc, joint acquisition of Victoria & Alfred Waterfront in Cape Town (South Africa), acquisition of luxury retailer Barney New York, acquisition of hotel chain Oriental Mandarin, among others.

BankMuscat International (BMI) is regulated in Bahrain. It is owned by BankMuscat (Oman) 49%, Royal Court Affairs, Oman 11%, Premier Group Bahrain (investment arm of HM the King of Bahrain) 20%, Istithmar 10% and Global Investment House (Kuwait) 10%. BMI is being repositioned as an emerging markets bank with a capital of over USD 300 million.

Sheikh Abdallah Mohammed Al Romaizan is one of the leading investors from Saudi Arabia. He commands the largest market share of the gold business in Saudi Arabia and is a major investor in most large Saudi Banks. He is well recognized as a financially strong and a leading investor with several investment holdings across the globe.

GulfCap Group is an investment company registered in the United Arab Emirates set up by Mr Suleiman Shahbal, its Chief Executive Officer, and Mr Jamil Qureshi. The shareholders of GulfCap include prominent and financially strong investors from the Gulf having diversified investment holdings across the globe.

PTA Bank - The Eastern and Southern African Trade and Development Bank (PTA Bank) was formed in 1985 as a financial arm of the integration arrangement envisaged under Common Market for Eastern and Southern African States (COMESA). Africa Development Bank and 18 countries are the shareholders of PTA Bank. PTA Bank's support will be invaluable in helping Gulf African Bank to grow into a regional bank.

Individual Investors: A selection of prominent business and opinion leaders in Kenya and the Gulf have also invested in their personal capacities sharing our vision to develop a major financial institution.