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Standard & Poors Reaffirms Al Baraka Banking Groups Rating

S&P commented that ABGs strength was its superior geographic diversification when compared to its peers and the competitive benefits it derives from its status as an Islamic bank. The quality of ABGs management, clarity of strategy and strong track record of operations are also seen as positive factors, and so is its granular financing book.

Commenting on the reaffirmation of the ratings, Mr. Adnan Ahmed Yousif, the President & Chief Executive of the ABG, said that the rating outcome is a testimony to the consistent performance of the Group since many years, with the future looking positive.

Al Baraka Banking Group is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national by Islamic International Rating. ABG offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of ABG is US$ 2.5 billion. The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in 17 countries, which in turn provide their services through over 700 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Saudi Arabia and Morocco, in addition to a Digital bank in Germany, two branches in Iraq and two representative offices in Indonesia and Libya.

Most Popular Products

Current Account can be opened in one of the listed currency below with no restriction in the number of withdrawal and deposits.

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Al Baraka Business Plus Account has evolved with time to offer ease, flexibility and a wide range of unmatched free services. This product is specially tailored to match all the daily needs of business class and individual customers.

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Al Baraka Shafqaat Account has been introduced as socially responsible banking services for most valued segments of our society in order for them to make their routine transactions with premium customer support along with healthy return on their investment. Al Baraka is the only full-fledged Islamic bank to offer such account services for the target market mentioned herein. This account comes along with a wide range of free services and benefits.

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Al Baraka Mahana Barkah Account provides regular stream of halaal monthly income for lower and middle group customers with the same convenience and services of a regular savings account.

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