case study
CHAPTER 1
INTRODUCTION
& HISTORY
AL BARAKA BANKING GROUP
Profile
AL BARAKA Banking Group is a Bahrain Joint Stock Company listed on Bahrain and NASDAQ Dubai stock exchanges. It is a leading international Islamic bank with Standard & Poor’s long and short-term credit ratings of BBB- and A-3 respectively. Al Baraka Banking Group offers retail, corporate/ investment banking and treasury services strictly in accordance with the principles of the Islamic Sharia’h. The authorized capital of Al Baraka Banking Group is US$1.5 billion, while total equity amounts to about US$1.7 billion. The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in twelve countries, which in turn provide their services through more than 300 branches. These banking Units are Jordan Islamic Bank, Al Baraka Islamic Bank Bahrain, Al Baraka Islamic Bank Pakistan, Banque Al Baraka D'Algerie, Al Baraka Bank Sudan, Al Baraka Bank Limited - South Africa, Al Baraka Bank Lebanon, Al Baraka Bank Tunisia, Al Baraka Bank Egypt, Al Baraka Turk Participation Bank, Al Baraka Bank Syria and a Group representative office in Indonesia.
ALBARAKA ISLAMIC BANK (AIB)
PAKISTAN
Al Baraka Islamic Bank (AIB) has the honor of being the pioneer of Islamic banking in Pakistan and has been operating in the country as branches of Al Baraka Islamic Bank Bahrain since 1991. Over the years, the bank has successfully developed and maintained its identity as one of the leading providers of a host of banking products and services in strict compliance with Sharia’h principles.
Currently operating with 29 branches in 17 major cities of the country, AIB offers a wide array of Islamic financing products such as Murabahah, Ijarah, Musharaka and Islamic Export Refinance, etc., catering to a diverse cross-section of the economy, including the Corporate, SME and Consumer sectors. Moreover, various Sharia’h compliant deposit schemes are available
INTRODUCTION
& HISTORY
AL BARAKA BANKING GROUP
Profile
AL BARAKA Banking Group is a Bahrain Joint Stock Company listed on Bahrain and NASDAQ Dubai stock exchanges. It is a leading international Islamic bank with Standard & Poor’s long and short-term credit ratings of BBB- and A-3 respectively. Al Baraka Banking Group offers retail, corporate/ investment banking and treasury services strictly in accordance with the principles of the Islamic Sharia’h. The authorized capital of Al Baraka Banking Group is US$1.5 billion, while total equity amounts to about US$1.7 billion. The Group has a wide geographical presence in the form of subsidiary banking Units and representative offices in twelve countries, which in turn provide their services through more than 300 branches. These banking Units are Jordan Islamic Bank, Al Baraka Islamic Bank Bahrain, Al Baraka Islamic Bank Pakistan, Banque Al Baraka D'Algerie, Al Baraka Bank Sudan, Al Baraka Bank Limited - South Africa, Al Baraka Bank Lebanon, Al Baraka Bank Tunisia, Al Baraka Bank Egypt, Al Baraka Turk Participation Bank, Al Baraka Bank Syria and a Group representative office in Indonesia.
ALBARAKA ISLAMIC BANK (AIB)
PAKISTAN
Al Baraka Islamic Bank (AIB) has the honor of being the pioneer of Islamic banking in Pakistan and has been operating in the country as branches of Al Baraka Islamic Bank Bahrain since 1991. Over the years, the bank has successfully developed and maintained its identity as one of the leading providers of a host of banking products and services in strict compliance with Sharia’h principles.
Currently operating with 29 branches in 17 major cities of the country, AIB offers a wide array of Islamic financing products such as Murabahah, Ijarah, Musharaka and Islamic Export Refinance, etc., catering to a diverse cross-section of the economy, including the Corporate, SME and Consumer sectors. Moreover, various Sharia’h compliant deposit schemes are available