Adnan Ahmed Yousif Wins 2012 LARIBA Award
It is announced in Dallas, State of Texas, the winning of Mr. Adnan Ahmed Yousif, President and Chief Executive of Al Baraka Banking Group and Chairman of the Union of Arab Banks the "2012 LARIBA Award for Excellence in Achievement" in recognition of his leadership role in consolidating and operating the largest Islamic Banking Group in the world: Al Baraka Banking Group, and continuing the pioneering work started by HE Sheikh Saleh Abdulla Kamel, Chairman of Al Baraka Banking Group.
The Award was granted by American Finance House LARIBA in a ceremony held in the city of Dallas, Texas, USA. The award ceremony was part of a one-day International Symposium on Islamic Banking and Finance which was concluded by a gala dinner to recognize the awardees. The symposium covered many issues in the fields of monetary theory, Riba-Free economics, prohibition of Riba in other faiths and strategies to popularize a Riba- Free life style especially in the United States among all people of faiths. The dinner function was attended by Congressmen, Senators, and surrounding cities' Mayors, Religious leaders of all faiths, lmams and leaders of the Muslim community.
On this occasion, the President and Chief Executive of Al Baraka Banking Group Mr. Adnan Ahmed Yousif said" This Award gives us the resolve and determination to proceed with the service of the Kingdom of Bahrain and its aspirations to enhance the bright image of Islamic Banking sector, in which we are pioneer regionally and internationally".
The LARIBA Award tradition was started in 1999 to recognize significant contributors in the field of Islamic finance and banking. A partial list of the awardees includes HE Prime Minister Dr. Mahathir Ben Mohammed, Professor Nejatullah Siddiqui, Sheikh Saleh Abdulla Kamel, Tan Sri Mohamed Nor Yakcop (Minister of Finance in Malaysia), Professor Sabahattin Zaim (Turkey), Professor Dr. Rifaat Abdel Karim (Sudan) and many other leaders in the field.
American Finance House LARIBA was founded in 1987 in the United States. The Bank was acquired in 1998 by the shareholders of LARIBA. LARIBA is the oldest community owned Riba-Free (RF) finance company and the first ever in the United States. All capital resources are from the American Muslim Community in 40 states.
Al Baraka Banking Group is a Bahrain Joint Stock Company Licensed as an Islamic Wholesale Bank by Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic bank providing its unique services to around one billion people and with Standard and Poor's investment grade long term counterparty credit rating of BBB- / A-3 (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 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 fifteen countries, which in turn provide their services through more than 400 branches. Al Baraka is currently having a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.