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   2010
   
 

Al Baraka Banking Group Sponsors the Seventh Islamic Financial Services Board (IFSB) Summit

 Al Baraka Banking Group Sponsors the Seventh Islamic Financial Services Board (IFSB) Summit

The Bahrain-based leading Islamic banking group Al Baraka Banking Group B.S.C (ABG) announced that it would, as part of its leading role in supporting and developing the Islamic finance industry and in continuation of its earlier participations, participate together with three of its units namely, Al Baraka Bank Egypt, Jordan Islamic Bank and Al Baraka Turk Participation Bank in this year's sponsorship of the activities of the 7th  Islamic Financial Services Board summit which will take place, God willing, this month in Bahrain. The conference will last for two days and the participants will include internationally renown Islamic banking figures from around the world.
 
Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group, said "We at Al Baraka Banking Group have for many years been supporting all the activities and events that contribute to the development and strengthening of the Islamic finance industry.  We at Al Baraka Banking Group are keen to sponsor and support such conferences and events because such events are closely associated with the realisation of Al Baraka Banking Group strategies in serving the Muslim communities in which it operates. The Conference has now become an important forum that brings together the professionals concerned with or interested in the Islamic finance industry including scholars, bankers and government officials to discuss key issues and developments related to the Islamic finance industry. In doing so, the conference provides an appropriate platform for addressing challenges and identifying new opportunities in all markets, and this is what the Islamic finance industry now needs, especially that it has become a force to be reckoned with in the global financial markets.

In concluding his statement, Mr. Adnan Yousif by stressed that the conference provides a valuable opportunity for the exchange of views from different perspectives on the most important current Islamic banking issues, expressing his hope that the conference would come up with concrete recommendations to address the challenges faced by Islamic banking.

Al Baraka Banking Group is a Bahrain Joint Stock Company listed on Bahrain and NASDAQ Dubai stock exchanges. It is a leading international Islamic bank with Standard & Poor’s long and short-term credit ratings of BBB- and A-3 respectively. Al Baraka Banking Group offers retail, corporate / investment banking and treasury services strictly in accordance with the principles of the Islamic Shari'a. The authorised capital of Al Baraka Banking Group is US$1.5 billion, while total equity amounts to about US$1.7 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 300 branches. These banking Units are Jordan Islamic Bank, Al Baraka Islamic Bank – Bahrain, Al Baraka Islamic Bank – Pakistan, 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, Al Baraka Turk Participation Bank - Turkey, Al Baraka Bank Syria and a Group representative office in Indonesia.

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