AlBaraka Islamic Bank

Published May 24th, 2011 - 06:32 GMT

Al Baraka Islamic Bank established 1984 in Bahrain and up the years has pioneered the development of Islamic banking and finance. The Bank is registered with the Bahrain Ministry of Industry &, Commerce CR no. 14400 and is authorized by Central Bank of Bahrain (CBB) as Retail Bank, with an authorized capital of US$ 600 Million, of which US$ 122 Million has been issued and fully paid.

AIB - Bahrain is one of the Banking Units of Al Baraka Banking Group’s (ABG). ABG is a Bahraini Joint Stock Company listed on Bahrain and Dubai stock exchanges and one of the well-known leading international Islamic banks.  It has been rated by Standard & Poor's as BBB- with a short-term rating of A-3. ABG offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Sharia'a. The authorized capital of ABG is US$1.5 billion, while the total equity amounts to about US$ 1.5 billion.  The Group has a wide geographical presence in the form of subsidiary banking Units in 12 countries, which in turn provide their services through more than 240 branches.  These banking Units are Jordan Islamic Bank/ Jordan, Al Baraka Islamic Bank – Bahrain, Al Baraka Islamic Bank/ Pakistan, Banque Al Baraka D'Algerie/ Algeria, Al Baraka Bank Sudan/Sudan, Al Baraka Bank Ltd/ South Africa, Al Baraka Bank Lebanon/Lebanon, Bank Et-Tamweel Al- Tunisi Al Saudi/ Tunisia, The Egyptian Saudi Finance Bank/Egypt, Al Baraka Turk Participation Bank/Turkey, Al Baraka Bank Syria (under establishment), and Representative office, Indonesia.