Al Baraka Banking Group
Al Baraka Banking Group B.S.C. ("ABG") is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and NasdaqDubai,Founded by Sheikh Saleh Abdullah Kamel. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion.
Your Partner Bank | |
| Type | Public |
|---|---|
| BHSE: BARKA (DIFX: BARKA)[1] | |
| Industry | Finance and Insurance |
| Founded | 1978 |
| Headquarters | Al Baraka Headquarters
Bahrain Bay P O Box 1882 Manama, Kingdom of Bahrain |
Number of locations | Jordan, Egypt, Tunisia, Sudan, Bahrain, Turkey, South Africa, Algeria, Lebanon, KSA, Indonesia, Syria, Pakistan, Libya, Morocco and Iraq |
Area served | Worldwide around 700 Branches |
Key people | Mr. Abdullah Saleh Kamel, Chairman Mr. Mohamed Ebrahim Alshroogi, Vice Chairman |
| Products | Islamic banking Banking Investment banking Investment management |
| Revenue |  1.14 Billion USD 2020 |
Number of employees | 12,026 Employees Worldwide (2020) |
| Parent | Dallah Al Baraka Group |
| Website | www.albaraka.com |
The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in 17 countries, which in turn provide their services through over 700 branches. Al Baraka Banking Group has operations in Jordan, Egypt, Tunis, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Saudi Arabia, Syria, Morocco and Germany, in addition two branches in Iraq and two representative offices in Indonesia and Libya.
ABG and its Units offer retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of ABG is US$2.5 billion.
S&P Global Ratings has updated the long-term rating on Al Baraka Banking Group B.S.C. to 'BB-' with a 'Stable' Outlook, while affirming the 'B' short-term rating of the bank.
ABG has also been rated BBB+ (long term) / A3 (short term) by Islamic International Rating Agency (IIRA). IIRA has also rated ABG on the national scale at A+ (bh) / A2 (bh) with a fiduciary score of 81-85, the highest level amongst Islamic Financial Institutions in the region.
International presence
The global network of Al Baraka Banking Group is present in 17 countries, as well under the Al Baraka and other brand names.[2]
| Country | Name | Former Name | Branches |
|---|---|---|---|
| Jordan | Jordan Islamic Bank | 108 | |
| Egypt | Al Baraka Bank Egypt | Al Ahram Bank (also formerly known as Egyptian Saudi Finance Bank) | 32 |
| Tunisia | Al Baraka Bank Tunisia | Saudi Tunisian Finance Bank | 37 |
| Sudan | Al Baraka Bank Sudan | 29 | |
| Bahrain | Al Baraka Islamic Bank (AIB) | Al Baraka Islamic Investment Bank B.S.C. (E.C.). | 6 |
| Turkey | Al Baraka Türk Participation Bank | Albaraka Türk Özel Finans Kurumu A.Ş. | 230 |
| South Africa | Al Baraka Bank Limited | 11 | |
| Algeria | Banque Al Baraka D'Algerie | 31 | |
| Lebanon | Al Baraka Bank Lebanon | 6 | |
| Saudi Arabia | Itqan Capital | 1 | |
| Indonesia | Al Baraka Bank Representation | 1 Representative Office | |
| Syria | Al Baraka Bank Syria | 13 | |
| Pakistan | Al Baraka Bank | 188 | |
| Libya | Al Baraka Bank Representation | 1 Representative Office | |
| Iraq | Al Baraka Türk Participation Bank | 2 | |
| Morocco | BTI Bank | 5 |
References
- "Al Baraka Bank BARKA". Sharewadi. Archived from the original on 22 July 2015. Retrieved 22 April 2013.
- "Al Baraka". Al Baraka. Archived from the original on 11 May 2015. Retrieved 22 April 2013.