Tagged: Al-Baraka Islamic Bank

Bank to raise $200m with sukuk

Bank to raise $200m with sukuk

Al Baraka Islamic Bank is raising $200 million through trust certificates in a Sukuk Al Wakala issue which will mature in 2015. The 18-month sukuk is aimed at raising cash to help increase the bank’s exposure to Sharia-compliant trade finance. The issu…

New Islamic financial products

New Islamic financial products

Al Baraka Islamic Bank announced the introduction of new Islamic financial products. Furthermore, it will open several new branches in Pakistan with the purpose to facilitate the consumers of Islamic products. According to Adnan Ahmad Yousaf – presiden…

Board member is appointed

Board member is appointed

According to an announcement by Al Baraka Islamic Bank, Abdul Rahman Abdullah Mohammed has joined the bank’s board. This was made possible by Central Bank of Bahrain’s approval. Abdul Rahman Abdullah Mohammed is an expert in banking business with over …

ABG acquires Al-Tawfeek shares

ABG acquires Al-Tawfeek shares

Albaraka Banking Group BSC (ABG) has purchased 60 percent of the issued shares of Al-Tawfeek Financial Group through its subsidiary in Bahrain, Al-Baraka Islamic Bank.
Adnan Ahmed Yousif, president and chief executive of ABG, stated that the procedures…