Manama: Al Baraka Banking Group BSC (ABG) and a number of its banking units signed an agreement to sponsor the prime Musharaka Islamic finance program, which aired by CNBC Arabia on Thursday of each week and re-broadcast on Saturday.
Adnan Ahmed Yousif Board Member and President & Chief Executive of Al Baraka Banking Group singed the sponsorship agreement, which extends for a period of one year, on behalf of the Group and it’s and banking units, while Mohammed Burhan, CEO of the channel signed on behalf of the CNBC Arabia.
“I am delighted on behalf of Al Baraka Banking Group and our banking units to sponsor one of the most prominent Islamic finance and economic programs broadcasted by CNBC Arabia, which embodies our commitment to cooperate with the high-profile media organizations that provide services for a broad categories of decision-makers, professionals, academics and interested audience, and this will support our social mission in the service of these categories. At the same time, this sponsorship will contribute to building a strong emergence of the Group and its units amid those categories, CEOs community, banks and the financial industry, which enhances the excellent prestige and reputation the Group regionally and globally,” Adnan Ahmed Yousif said.
It is noteworthy that Musharaka program is CNBC Arabia’s prominent Islamic Finance show, that covers all financial, investment and trade activities that comply with the Islamic Shari’a. The show reviews the most prominent news of the Islamic financial sector on both global and regional level, through interviewing officials, specialists in the Islamic Financial sector and as well as covering the old and current Islamic financial legislations. Furthermore, it sheds the light on banks, institutions and companies working within the sector and highlights the important developments and updates that occur within them on weekly basis.
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. 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 over 550 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.