Compagnie Internationale de Participations Bancaires et Financières S.A. (CIPAF) is the Luxembourg-based investment and banking arm of GMH. It was created in 1981 and originally held major stakes in financial institutions such as France’s Paribas, Banque Continentale du Luxembourg and Banque Paribas Luxembourg. Interests in these companies were divested as CIPAF grew and evolved.

Today the company is highly active in the capital and bond markets of London, New York, Paris and Frankfurt. CIPAF’s current investments in the banking and finance sector include a Grand Cayman-based private investment company, Jordan’s Union Bank for Savings and Investment, Jordan Bank and the Jordan Kuwaiti Bank. Through subsidiaries in the UK, the group is engaged in asset funding and other commercial finance activities. CIPAF’s total assets in 2009 exceeded £800 million.