Al Baraka عربي

Al Baraka Banking Group voluntarily ceasing its operations under the wholesale banking license and moving to an investment firm license

Manama I February 17, 2022

As previously announced in September 2020 by Al Baraka Banking Group B.S.C registered under CR 48915 (license No. WB/038) of its initiation of the process to convert its current license as an Islamic Wholesale Bank to a category “1” Investment Firm. Al Baraka Banking Group B.S.C announces today its intention to cease providing the services under the aforementioned license. This announcement comes in line with the provisions of article (50) of the Central Bank of Bahrain and Financial Institutions Law No. 64 of 2006 as amended.

The Group’s banking subsidiaries, including Al Baraka Islamic Bank, Bahrain, will continue their banking activities and business as usual under the supervision of the Central Bank of Bahrain and their respective local banking regulators.
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