Al Baraka Group B.S.C (c) ("ABG" / the “Group”) is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain. It is a leading international Islamic financial group providing financial services through its banking subsidiaries in 13 countries offering retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Islamic Shariah.
The Group has a wide geographical presence with operations in Jordan, Egypt, Tunisia, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon and Syria, in addition to two branches in Iraq and a representative office in Libya and provides its services in more than 600 branches. ABG’s network serves a population totaling around one billion customers.
The authorized capital of ABG is US$ 2.5 billion.
Mr. Azhar Hamid
Vice Chairman
(Al Baraka Group (ABG) B.S.C (c) Representative)
Mr. Hamid is an international banker with a career spanning over 56 years with Grindlays Bank, ANZ Bank and latterly Standard Chartered Bank, the senior overseas assignments include the UK, Bahrain, Jordan, and Australia. He was appointed the first Pakistani Country Head of ANZ Grindlays Bank in 1994. After acquisition of the Bank in 2000 by Standard Chartered Bank, he was asked to continue managing the combined bank, retiring in 2003. After the introduction of a Riba free financial system in Pakistan in 1985, he led the team that established the First Grindlays Modaraba which became the most successful and dominant Modaraba Company in the Country.
Mr. Hamid has served on the Board of Grindlays Bahrain Bank in Bahrain. Upon retirement in 2003, he served as Director Main Board of the State Bank of Pakistan a position that he relinquished when asked by the Government to establish a Banking Mohtasib (Ombudsman) function in the Country. He was thus the first Banking Mohtasib (Ombudsman) in Pakistan and completed his 3 years term in May 2008. He has served as Director on the Board of the Bank of Punjab and Burj Bank and Chaired UBL Funds for 6 years until October 2023. He has also served on several Pakistan Government and State Bank of Pakistan committees on economic reforms and monetary policy.