Al Baraka Banking Group organizes specialized Diploma program for its employees in AML / CFT
27 February 2017
The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG( organized a specialized diploma program in AML / CFT in collaboration with the Union of Arab Banks and the Beirut Arab University last week. The program, which was held at the Group's headquarters in Bahrain Bay, continued for three days from 21 till 23 February 2017, and lectured by specialists and experts bankers. 21 staff from various units of the Group was participated in the program. The executive management of the Group led by Mr. Adnan Ahmed Yousif, Member of the Board and President & Chief Executive of Al Baraka Banking Group was also participated in the opening of the program.
Mr. Adnan Ahmed Yousif has opened the program with a speech, in which he thanked both the Union of Arab Banks and the Beirut Arab University Union for this extremely important academic and practical program, which emphasizes the constructive and meaningful cooperation between the Group and them in granting the participants in the program from our units and headquarters a specialized diploma certificate in AML / CFT fields.
He also stressed that this program, which is organized by the group, is an extension of the activities and events the Group has been pursued as part of its strategy and efforts to provide its staff with qualifications that commensurate with the leadership of the Group and its spread worldwide.
The program included a presentation of core subjects in the field of combating money laundering and terrorist financing, such AML / CFT laws, KYC law, diligence due customer, compliance, role of compliance officer, FATF Recommendations, Basel Recommendations, risk based approach, governance, procedures and policies, international sanctions, , de-risking, financial crimes caused by ePayments, current challenges in international situation and other topics.
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. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and 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 over 700 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.