عربي English Türkçe اردو فارسى
Logo
Latest News
Arab World

GFH Acquires AMA International University of Bahrain

GFH Acquires AMA International University of Bahrain
TT
TT

GFH Acquires AMA International University of Bahrain

GFH Acquires AMA International University of Bahrain

GFH Financial Group (GFH) said that it, alongside its strategic partners, has acquired the AMA International University-Bahrain (AMAIUB), building the Group’s local and regional education portfolio currently valued at USD250 million.

The transaction, valued in excess of USD100 million, will see GFH assume the lead in the management of the University on behalf of its partners, leveraging its strong and long-standing track record and experience in the sector.

Commenting on this, Group Chief Executive Officer Hisham Al Rayes said: "We are delighted to announce the acquisition of AMA International University-Bahrain by GFH and our partners."

He described this as "a strategic investment in a world-class institution that continues to rapidly build its position as one of the Kingdom’s and region’s top university destinations for both undergraduate and post-graduate studies.”

Rayes went on saying that "Investment in the education sector, among the fastest-growing the GCC region today, forms one of the key pillars of our strategy and we are focused on continuing to diversify and strengthen our portfolio with the addition of unique assets, like AMAIUB, to which we can apply our deep investment and operational know-how to deliver further growth and value for all stakeholders."

With this investment and our management of the University, we will work closely with the administration, staff, and students in order to help accelerate AMAUIB’s ability to meet and maximize its vast potential."

According to him, this includes adding resources and expertise that would further enhance the university's offering and capacity and raise the bar of international standards of higher education in the region.

Most Viewed

 
 
Arab World

US Eases Restrictions on Syria While Keeping Sanctions in Place

A worker stands at a bakery after the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 6, 2025. (Reuters)
A worker stands at a bakery after the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 6, 2025. (Reuters)
TT
TT

US Eases Restrictions on Syria While Keeping Sanctions in Place

A worker stands at a bakery after the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 6, 2025. (Reuters)
A worker stands at a bakery after the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 6, 2025. (Reuters)

The US on Monday eased some restrictions on Syria's transitional government to allow the entry of humanitarian aid after opposition factions ousted Syrian leader Bashar al-Assad last month.

The US Treasury issued a general license, lasting six months, that authorizes certain transactions with the Syrian government, including some energy sales and incidental transactions.

The move does not lift sanctions on the nation that has been battered by more than a decade of war, but indicates a limited show of US support for the new transitional government.

The general license underscores America's commitment to ensuring its sanctions “do not impede activities to meet basic human needs, including the provision of public services or humanitarian assistance,” a Treasury Department statement reads.

Since Assad's ouster, representatives from the nation's new de facto authorities have said that the new Syria will be inclusive and open to the world.

The US has gradually lifted some penalties since Assad departed Syria for protection in Russia. The Biden administration in December decided to drop a $10 million bounty it had offered for the capture of Ahmed al-Sharaa, the leader of the Hayat Tahrir al-Sham group whose forces led the ouster of Assad last month.

The announcement followed a meeting in Damascus between al-Sharaa, who was once aligned with al-Qaeda, and the top US diplomat for the Middle East, Barbara Leaf, who led the first US diplomatic delegation into Syria since Assad’s ouster. The US and UN have long designated HTS as a terrorist organization.

HTS led a lightning insurgency that ousted Assad on Dec. 8 and ended his family’s decades-long rule. From 2011 until Assad’s downfall, Syria’s uprising and civil war killed an estimated 500,000 people.

Much of the world ended diplomatic relations with Assad because of his crackdown on protesters, and sanctioned him and his Russian and Iranian associates.

Syria’s infrastructure has been battered, with power cuts rampant in the country and some 90% of its population living in poverty. About half the population won’t know where its next meal will come from, as inflation surges.

The pressure to lift sanctions has mounted in recent years as aid agencies continue to cut programs due to donor fatigue and a massive 2023 earthquake that rocked Syria and Türkiye. The tremor killed over 59,000 people and destroyed critical infrastructure that couldn’t be fixed due to sanctions and overcompliance, despite the US announcing some humanitarian exemptions.