News   

   2011
   
 

Al Baraka Banking Group Sponsors Islamic Banking and Finance Conference

 

The Bahrain based leading Islamic banking group Al Baraka Banking Group (ABG), announced that, as part of its leading role in supporting the development of the Islamic financial industry and in continuation of its past participations, it sponsored as a platinum partner, for the second time, the activities of the  Annual Islamic Banking and Finance Conference organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the World Bank, which was  held in Bahrain yesterday. The conference was attended by distinguished internationally renowned Islamic banking personalities from different parts of the world.

Al Baraka Banking Group has for many years been supporting and sponsoring all the events and activities that contribute to the development and promotion of the Islamic financial industry.   Al Baraka Banking Group is keen to sponsor and support these specialized conferences in view of their strong link with the implementation of the Group's strategies in serving the Moslem communities in whose countries ABG units operate.  Furthermore, the conference has now become an important platform that brings together all those concerned with or interested in the Islamic finance industry including scholars, bankers and government officials to discuss major issues related to the Islamic financial industry. The conference, as such, provides a suitable forum for addressing challenges and identifying new opportunities in all markets, and this is exactly what the industry now needs; especially that it has become a major player in the international financial markets. Moreover, the conference provides a valuable opportunity for exchanging ideas relating to Islamic banking business at present and setting up future plans to develop the Islamic banking regionally and internationally. Holding the conference annually in the Kingdom of Bahrain underlines the importance of the Kingdom as an international financial center and an important center or Islamic banking.

Al Baraka Banking Group (ABG) is a Bahrain Joint Stock Company listed on Bahrain Bours and Nasdaq Dubai stock exchanges. It is a leading international Islamic bank with Standard and Poors investment grade long term counterparty credit rating of BBB- / A-3 (Short Term) with a Negative Outlook. ABG offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Islamic Shari'a. The authorised capital of ABG is US$1.5 billion, while total shareholders' equity amounts to about US$1.8 billion. The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in twelve countries, which in turn provide their services through more than 400 branches. These banking Units are Jordan Islamic Bank, Al Baraka Islamic Bank Bahrain, Al Baraka Bank Pakistan Limited; Banque Al Baraka D'Algerie, Al Baraka Bank Sudan; Al Baraka Bank Limited, South Africa; Al Baraka Bank Lebanon; Al Baraka Bank Tunisia; Al Baraka Bank Egypt; AlBaraka Turk Participation Bank, Al Baraka Bank Syria and representative offices in Indonesia and Libya (under formation).

 

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