Al Baraka Banking Group Wins "Best Regional Bank" Award
Manama 26 December 2010:
The Bahrain based leading Islamic banking group, Al Baraka Banking Group (B.S.C) announced that it won " Best Regional Bank "Award at the prestigious â€œAnnual Islamic Business & Finance Awards" ceremony, where a total of 30 accolades were granted.
Held at Emirates Towers Hotel in Dubai, the Awards ceremony celebrated achievement among top Islamic bankers, financiers and Islamic banking and finance institutions. Once again this year, Gulf-based institutions and individuals were able to compete head-to-head with their international peers, taking home more than two thirds of the awards. Other winners were drawn from the United Kingdom, USA, Malaysia, Luxembourg, and Sudan.
Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group said that : " winning this award motivates us to continue work on the implementation of our strategies with a view to serving the development needs of the countries in which we operate, in addition to providing innovative Islamic banking services and products in line with the evolving needs of our customers and the countries in which we operate or have business relationships with through our banking units or representative offices".
Mr. Yousif added: "We thank Allah Almighty for helping us in our efforts that led to winning this prize which makes us feel proud of our belonging to Al Baraka Banking Group. It is also an international recognition of the outstanding achievements of the Group".
The Islamic Business & Finance Awards running for its fifth year, is considered to be one of the most prominent events in the finance industry throughout the Gulf region.
The annual ceremony was designed to highlight, encourage and reward the exceptional performance and growth of the Islamic business and finance community. These awards are now widely considered as a benchmark of excellence in the industry.
Al Baraka Banking Group is a Bahrain Joint Stock Company listed on Bahrain stock exchange and Nasdaq Dubai. It is a leading international Islamic bank with Standard and Poors long term and short-term credit ratings of BBB- and A3 respectively. ABG offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of ABG is US$1.5 billion, while total 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 thirteen 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; Al Baraka Bank Algeria, Al Baraka Bank Sudan, Al Baraka Bank Ltd, South Africa; Al Baraka Bank Lebanon, Al Baraka Bank Tunis, Al Baraka Bank Egypt, Al Baraka Turk Participation Bank, Al Baraka Bank Syria, a representative office in Indonesia and one in Libya (under formation).
For more information, please contact:
Corporate Communications Department
Al Baraka Banking Group BSC
Tel: +973 17 541 122 (Ext. 227)
Fax: + 97317 536 533
E-mail: [email protected]