Al Baraka Banking Group Announces the Appointment of a New General Manager of Al Baraka Bank Tunisia
14 February 2018
Al Baraka Banking Group B.S.C (ABG), the leading Islamic Bahrain-based banking group, has announced the appointment of Mr. Mohamed El Moncer as the new General Manager of Al Baraka Bank Tunisia, succeeding Mr. Fraj Zaaq, who retired from early January 2018.
On this occasion, Mr. Abdul-Elah Sabbahi, Chairman of Al Baraka Bank Tunisia, thanked Mr. Fraj Zaaq for his successful and full of achievements career which coincided with the establishment of the Bank in 1983 as an offshore banking unit. He was the best who led Al Baraka Bank Tunisia to become a commercial bank with a full banking service in 2013, with a strong presence in the Tunisian market, where more than 37 branches were opened in various Tunisian cities during this period.
Mr. Adnan Ahmed Yousif, President and Chief Executive of Al Baraka Banking Group and a member of the Board of Directors of Al Baraka Bank Tunisia, said: The new General Manager of Al Baraka Bank Tunisia Mr. El Moncer brings with him a wealth of banking experience spanning of more than three decades. It is his intention to continue his predecessors career in strengthening the Banks banking position in the Tunisian market and expanding its network of businesses and customers from various categories through further expansion of the branch network and offering new products and services.
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$ 2.1 billion.
The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in 16 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, Saudi Arabia and Morocco, including two representative offices in Indonesia and Libya.