Al Baraka Banking Group

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AAA (Licensed as an Islamic Wholesale Bank by CBB)
Public
Traded asBHSEBARKA
(DIFX: BARKA)[1]
IndustryFinance and Insurance
Founded1978; 42 years ago (1978)
HeadquartersAl Baraka Headquarters

Bahrain Bay P O Box 1882

Manama, Kingdom of Bahrain
Number of locations
Bahrain, Turkey, Jordan, Indonesia, Pakistan, Tunisia, Algeria, South Africa, Sudan, Syria, Lebanon Libya, Iraq and Egypt[2]
Area served
Worldwide with 650 Branches[3]
Key people
Shaikh Saleh Abdullah Kamel, Chairman
Abdulla A. Saudi, Vice Chairman and Board Member
Abdullah Saleh Kamel, Board Member & Chairman of the Board Executive Committee
Adnan Ahmed Yousif, President and CEO
Abdulrahman Shehab, COO[4]
ProductsIslamic banking
Banking
Investment banking
Investment management
RevenueIncrease 634 million USD 2009[3]
Number of employees
11,458 Employees Worldwide (2015)[3]
ParentDallah Al Baraka Group
Websitewww.albaraka.com

Al Baraka Banking Group is a Bahraini multinational banking corporation and is based in Manama, Bahrain. It was formed in 2002 in Manama, Bahrain. The company is listed on the Bahrain Stock Exchange and NASDAQ,[5] the group offers retail, corporate and investment banking and treasury services in accordance with the principles of the Shari'a in 15 countries.

It has total assets of $70.2 bn in 2012.

At its helm it has Saleh Abdullah Kamel and Abdullah A. Saudi who has been one of the most influential people in finance in the Middle East and North Africa (MENA) recent decades. Saudi is a Libyan banker, he has been an adviser to the Bank of Lebanon since 1997. He served at Central Bank of Libya from 1958 to 1972. He is Founder and General Manager of Libyan Arab Foreign Bank, Libya from 1972 to 1980. He was also the CEO of Fiat Automobiles. Saudi was a pioneer of finance in the Middle East so much so that he is the founder of the renowned Arab Banking Corporation.[6][7]

Mr Saudi has received many international accolades and decorations, including: the title of one of the “Most Innovative Bankers” in 1980 at a presentation at Georgetown University, Washington D.C.; “Best Banker” award from the Association of Arab American Banks in 1990; “Arab Banker of the Year” award from the Union of Arab Banks in 1993. He also has several gold medals and awards, notably those bestowed by the King of Spain and the President of Italy in 1977, and the Grand Medal of the Republic of Tunisia in 1993. Recently, he was honoured with the Integrity Award for Combating Forgery by the Arab Union - subordinate of the Arab League – in 2012.[8]

International presence[edit]

The global network of Al Baraka Banking Group is present in 15 countries, as well under the Al Baraka and other brand names.[2]

Country Name Former Name Branches
Saudi Arabia Itqan Capital 1
Jordan Jordan Islamic Bank 97
Indonesia Al Baraka Bank Representation 1 Representative Office
Pakistan Al Baraka Bank 138
Bahrain Al Baraka Islamic Bank (AIB) Al Baraka Islamic Investment Bank B.S.C. (E.C.). 19
Turkey Al Baraka Türk Participation Bank Albaraka Türk Özel Finans Kurumu A.Ş. 213
Syria Al Baraka Bank Syria 12
Lebanon Al Baraka Bank Lebanon 23
Tunisia Al Baraka Bank Tunisia 22
Algeria Banque Al Baraka D'Algerie 30
South Africa Al Baraka Bank Limited 17
Sudan Al Baraka Bank Sudan 27
Egypt Al Baraka Bank Egypt Al Ahram Bank (also formerly known as Egyptian Saudi Finance Bank) 31
Libya Al Baraka Bank Representation 37
Iraq Al Baraka Türk Participation Bank 42

References[edit]

  1. ^ "Al Baraka Bank BARKA". Sharewadi. Retrieved 22 April 2013.
  2. ^ a b "Al Baraka". Al Baraka. Retrieved 22 April 2013.
  3. ^ a b c "Al Baraka". Al Baraka. Retrieved 22 April 2013.
  4. ^ "Al Baraka". Al Baraka. Retrieved 22 April 2013.
  5. ^ "Baraka Group expects to offer shares in 2019 to fund expansion plans". NASDAQ.com. 9 September 2018. Retrieved 16 November 2018.
  6. ^ "Libyan Spokesmen Portray Fiat Investment in Strictly Economic Terms". 10 December 1976. Cite journal requires |journal= (help)
  7. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 16 November 2018.
  8. ^ MarketScreener. "Abdulla Ammar Al Saudi - Biography". www.marketscreener.com. Retrieved 16 November 2018.