ABG’s three subsidiaries scoop top award for 7th year in a row
MANAMA: The Bahrain based leading Islamic banking group Al Baraka Banking Group B.S.C. (ABG) and three of its subsidiary banking units will receive the “World’s Best Islamic Financial Institution” Award for 2019, in various categories, as part of the annual awards that the Global Finance magazine announces for international banks and financial institutions.
Al Baraka Banking Group is the winner of the “Best Islamic Financial Institution in South Africa Award in the regional winners’ category, Al Baraka Bank Algeria, Al Baraka Bank Lebanon and Jordan Islamic Bank, all are winners in the “World’s Best Islamic Financial Institution 2019 in the Country category, in Algeria, Lebanon and Jordan, respectively.
The winning of these awards by ABG and its three subsidiary banking units for the seventh successive year was announced in a final result statement by the magazine’s Award Committee, which included in its membership, a number of economists and editors of Global Finance, international financial advisors and a number of bank managers and experts in the field of banking. ABG and its three banking units received these awards for their prominent role in the development of the Islamic banking sector, their ability to achieve consistent growth and meeting professional standards in terms of the quality of products and services offered to clients, as well as for their originality and innovation in services and customer service, continued development and innovation in banking operations and other important criteria such as strategic relationships, geographic reach, profitability and robustness of financial position.
The awards will be formally presented at their annual awards ceremony during the IMF World Bank annual meetings, which will be held this year in Washington, DC at the National Press Club on the morning of October 19, 2019.
“We are very happy with the achievement of ABG and its three subsidiary banking units in winning this international award for the seventh successive year. This reflects the ability of the Group and the Units to maintain their leadership and distinguished financial and operational status over these past years on one hand, and on the other hand, the excellent banking position that the Group and the Units occupy in their respective countries, their effective contributions in providing innovative saving and investment products, in addition to their excellent performance and services, and good reputation in the Islamic banking sector locally and regionally from the other side,” Mr. Adnan Ahmed Yousif, Board Member and President and Chief Executive of Al Baraka Banking Group said.
Mr. Adnan Ahmed Yousif concluded his statement by expressing his thanks and appreciation to the executive managements and all employees of ABG and the three banking units for their continuing efforts in raising the status of their units and the Group as a whole at the local, regional and international levels.