Gulf Finance House (GFH) management today confirmed that the company has been operating in compliance with the Kuwait Stock Exchange disclosure rules. The statement follows general concerns recently expressed in the Kuwaiti press that a number of high profile firms including GFH were not disclosing to the Exchange the names of those shareholders with stakes of over 5%.
Mr. Silvan Varghese, Executive Director of Risk Management & Compliance at GFH, stated: “We can confirm that the matter of non-disclosure of stakes of more than 5% is not one that affects GFH, in fact our most recent disclosure to the Exchange was made about a week prior to this matter being raised in the press.”
Mr. Peter Panayiotou, Deputy CEO of GFH, added: “Compliance is a topic taken very seriously by both management and the Board of GFH and as such we have built a strong compliance team which includes senior professionals who previously worked at a number of large international financial institutions as well as at the Financial Services Authority in the UK.”
