The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) announced promotions among members of its executive management, including Mr. Majeed Al Alawi Head of Internal Audit, Mr. K. Krishnamoorthy, Head of Strategic Planning and Mr. Abdulrahman Shehab Head of Operations and Administration, where they were promoted from Senior Vice President to Executive Vice President.
Commenting on these promotions, Mr. Adnan Ahmed Yousif, Member of the Board of Directors and President and Chief Executive of AlBaraka Banking Group said that these important promotions clearly reflect the stage of maturity reached by the Group in its successful march, where now become available to the Group Bahraini and foreign cadres with high efficiency and professionalism eligible them to participate actively in the leadership of the Group’s operations and strategies during the next phase.
He added that Al Baraka Banking Group intends to continue working during the coming period in order to make the best use of its substantial and qualified human resources in achieving maximum returns to its shareholders, and at the same time satisfying the varying and rapidly increasing needs of its customers. Al Baraka Banking Group, with its expertise and substantial financial and human resources, strong presence in the markets and the innovative banking and investment products that it offers will, God willing, be able to achieve these goals.
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$1.5 billion, while total equity amounts to about US$ 1.9 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.
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