“We are overwhelmed with the decision of the Moroccan Central Bank awarding license to ABG to operate an Islamic banking unit in Morocco. This is a very promising market and ABG will add value to the shareholders investments by exploiting the potential of Islamic Banking business in Morocco,” Adnan Ahmed Yousif, member of the Board of Directors and President and Chief Executive of Al Baraka Banking Group, on the sidelines of the AGM told The24X7News Bahrain (www.twentyfoursevennews.com).
The ABG 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.