MANAMA: Bahrain-based leading Islamic banking group Al Baraka Banking Group (ABG) is a platinum partner for the activities of two-day Annual Islamic Banking and Finance Conference organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the World Bank, opened in Manama on Monday.
The conference was attended by distinguished internationally renowned Islamic banking personalities, in addition to researchers and experts in financial affairs and executives from Islamic financial institutions inside and outside the Kingdom of Bahrain.
The themes that have been discussed during the conference are many, including the attitude of the Sharia towards the division of property to the utilitarian, complicity in the transactions of Islamic financial institutions and its controls and alternatives to overdraft.
Al Baraka Banking Group is a Bahrain Joint Stock Company licensed as an Islamic wholesale bank by Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion and is rated by Standard & Poor’s at BB+ (long term) / B (short term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2 billion.
The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in fifteen countries, which in turn provide their services through more than 480 branches. Al Baraka currently has a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.