Bahrain-based leading Islamic banking group Al Baraka Banking Group (ABG) will continue to implement the proactive strategies aimed at serving the global client based in a result-oriented way, a top official at the bank said.
“Winning the Best Regional Bank Award is testimony of the bank’s efforts to implement the best business model and the result-oriented strategy in all markets where we operate,” Adnan Ahmed Yousif, President and Chief Executive of ABG said after receiving the award at the Group’s headquarters in Manama.
Adnan, who was joined by the senior management, said that the award would be great motivation for the entire group to continue work on the implementation of strategies with a view to serving the development needs of the countries in which we operate.
“In addition the tailor-made strategies for global market will help in providing innovative Islamic banking services and products in line with the evolving needs of our customer base in the countries where we operate or having business relationships through our banking units or representative offices,” he added.
The ABG won the award at the prestigious Annual Islamic Business and Finance Awards 2010 ceremony, where total 30 winners received their awards.
“The Awards ceremony celebrated achievement among top Islamic bankers, financiers and Islamic banking and finance institutions. Once again this year, Gulf-based institutions and individuals were able to compete head-to-head with their international peers, taking home more than two thirds of the awards. Other winners were drawn from the United Kingdom, USA, Malaysia, Luxembourg, and Sudan,” the organizers of the award ceremony in a statement said.
“We thank Allah Almighty for helping us in our efforts that led to winning this prize which makes us feel proud of our belonging to ABG. It is also an international recognition of the outstanding achievements of the Group,” added Adnan.
The Islamic Business and Finance Awards running for its fifth year, is considered to be one of the most prominent events in the finance industry throughout the Gulf region.
The annual ceremony was designed to highlight, encourage and reward the exceptional performance and growth of the Islamic business and finance community. These awards are now widely considered as a benchmark of excellence in the industry.
ABG is a Bahrain Joint Stock Company listed on Bahrain stock exchange and Nasdaq Dubai. It is a leading international Islamic bank with Standard and Poor’s long-term and short-term credit ratings of BBB- and A3 respectively. ABG offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of ABG is $1.5 billion, while total equity amounts to about $1.8 billion.
The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in thirteen countries, which in turn provide their services through more than 400 branches.