Bahrain-based Al Baraka Banking Group is planning on issuing its first Islamic bonds, or sukuk, for its Jordanian unit later this year, chief executive Adnan Ahmed Yousif told Reuters.
Jordan Islamic Bank, the oldest of four Islam
A new partnership agreement with Al Baraka Islamic Bank has enabled Bahrain’s labour fund Tamkeen to add BD10 million ($26.3 million) to its allocated enterprise finance portfolio, increasing the total value to BD332.5 million.
Al Baraka Banking Group (ABG) and a number of its banking units signed an agreement to sponsor the prime Musharaka Islamic finance programme, which is aired by CNBC Arabia on Thursday and re-broadcast on Saturday.
Musharaka is CNB
Al Baraka Banking Group plans to apply a new mechanism designed to measure the direct impact of financing provided by its banks on the communities they serve, the bank's top official has said.
Al Baraka Banking Group president
Al Baraka Bank Algeria, a subsidiary of Bahrain-based Al Baraka Banking Group (ABG), has announced that its net income for the first nine months of the year increased 3.7 per cent to $38 million when compared with the same period a year ago.
Al Baraka Bank Egypt, a subsidiary of Bahrain-based Al Baraka Banking Group (ABG), has posted a 41 per cent increase in net income for the first nine months of the year to $24 million.
The total assets also increased by 15 per cen
Al Baraka Turk Participation Bank, a subsidiary banking unit of Al Baraka Banking Group (ABG), reported an increase of 21 per cent in its net profit in the first nine months of this year compared to the same period of 2013.
Bahrain-based Al Baraka Banking Group (ABG) has achieved a net income of $207 million in the first nine months of this year, an increase of five per cent on the net income achieved in the same period last year.
Total assets increa
Dagong Global Credit Rating Company and Islamic International Rating Agency (IIRA) have jointly assessed the international scale credit rating of Al Baraka Banking Group (ABG) at 'BBB+/A3' (Triple B Plus / A Three).
Bahrain-based Al Baraka Banking Group (ABG) and five of its subsidiary banking units received the 'Best Islamic Financial Institution' Award of 2014, as part of the annual awards from the Global Finance magazine.