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ABG 11TH Group Strategy Meeting (GSM)

30 June 2011:

The 11th ABG GSM was held on 8th-9th June 2011 in Istanbul, Turkey Mr. Adnan Ahmed Yousif President & CEO ABG extended his appreciation to all the subsidiaries for their contributions and discussions at the meeting and for the excellent reports presented. A number of good conclusions will be built upon in order to continue the growth and move forward in achieving the objectives and goals set in the ABG 5-year plan.

Over the two days, the meeting showed that the present challenges and those associated with the foreseeable future still require all to continue work on a number of areas such as Organization, Information Technology, focusing on the standardization of policies and procedures and the issuance of operating guides and manuals in accordance with best international practices, without losing sight of the local requirements.

In particular, Mr. Yousif stressed the need to start developing a manual for the procedures to be followed in the development of strategic plans, a unified manual for the requirements of the unified identity and the procedures for corporate governance self-assessment which was distributed to the subsidiaries recently. All of these initiatives share one and same objective, which is to ensure that the external message is consistent with the quantitative and qualitative targets to make “Al Baraka brand the preferred choice for the broadest possible segment of customers”.

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