Issue 1 2019

34 Acquisition International - Issue 1 2019 “As for the firm’s main goal, it is to serve society and engage in business within a socially responsible manner that aids the needs of the wider community, whilst adhering to the principles of the Sharia.” Al Baraka Banking Group B.S.C. is a Bahrain Joint Stock Company licensed as an Islamic wholesale bank by Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. Following their success as AI Banker of the Year, we profiled the Group to discover more about the exceptional level of service they deliver to their clients on a daily basis. stablished in 2002, Al Baraka Banking Group B.S.C. is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and NasdaqDubai. The firm is also one of the leading international Islamic banking group providing its unique services in countries with a population totalling around a staggering one billion. In addition to this, the firm is also rated BBB+ (long term) / A3 (short term) by Islamic International Rating Agency and BB (long term) / B (short term) by Standard & Poor’s. The Al Baraka flag has been a pioneer in promoting Islamic Banking not only in the region but also across many geographies. The Group has presently operations in 17 countries spanning three continents, with an ever-expanding footprint in new geographies. Since their inception, Al Baraka Banking Group B.S.C. have established a strong centralised corporate governance and management infrastructure. In 2006, the firm achieved a combined private placement and public issue, which has resulted in the Group not only in attracting the attention of investors and the market at large, but also to raise additional capital to strengthen its subsidiaries and position them for expansion in their home territories. In addition to this, it also enabled the Group to commence its wider geographical expansion. The successful flotation on the Nasdaq Dubai Stock Exchange and the Bahrain Bourse set the stage as a precursor to further expansion worldwide. As for the firm’s main goal, it is to serve society and engage in business within a socially responsible manner that aids the needs of the wider community, whilst adhering to the principles of the Sharia. Al Baraka’s ‘ Partnership Positioning ’ commits the Group to focus on opportunities, implying that Al Baraka contributes to the development of the people, businesses and communities it serves. Looking ahead to what the future holds, the team at Company: Al Baraka Banking Group B.S.C. hopes to continue to deliver their extraordinary level of service to their customers as well as build upon the outstanding accomplishments they have achieved over the years. Moving forward, the team anticipates that there will be a healthy growth of Islamic banking in the world, which in turn will enable Al Baraka Banking Group B.S.C. to view future with optimism and continue their pioneering role of propagating the Islamic Banking & Finance sector far and wide. The Group will of course continue to position themselves competitively, while they forge ahead with their expansion into newer geographies, strengthen their existing ones and most of all, continually maintaining their highest standards of corporate governance and Sharia principles. Contact: President & Chief Executive’s Office Company: Al Baraka Banking Group B.S.C. Address: Al Baraka Headquarters, Bahrain Bay, P.O. Box 1882, Manama, Kingdom of Bahrain, (Licensed as Islamic wholesale bank by CBB), CR NO. 48915 Telephone: +973 17541122 Website: www.albaraka.com Contributing to the Community E