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Islamic Business and Finance Awards 2017
Three banking units of Al Baraka Banking Group B.S.C. (ABG), the leading Islamic banking group based in Bahrain, won the Islamic Business and Finance Awards 2017. Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group also won CSR in Islamic Banking Award 2017 for his outstanding contribution in this field. The three units of ABG won the following awards: Best CSR in Islamic Banking in Syria – Al Baraka Bank Syria - Best Islamic Bank in Syria, Syria – Al Baraka Bank Syria - Best Islamic Bank in Lebanon – Al Baraka Bank Lebanon - Best Islamic Bank in Turkey – Al Baraka Turk Participation Bank.
The awards were received by Mr. Mohammed Halabi, Chief Executive Officer of Al Baraka Bank Syria S.A. at the awards ceremony which was held on December 12, 2017 in Dubai, which was attended by a large crowd of officials, senior bankers and businessmen. In its 12th year, the Islamic Business and Finance Awards focus on honoring excellence in Sharia'a compliant financial and banking services. A panel of arbitrators and experts selects a selection of institutions, followed by a six-week voting period. Winners are selected based on the number of votes each institution receives. For prizes such as Best Islamic Bank, it is based on key performance indicators and audited financial results, while the award of the best banking personality of the year depends on vote of the majority of the members of the jury.
Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group said that "winning these prestigious awards motivates us to continue work on the implementation of our strategies with a view to serving the development needs of the countries in which we operate through our innovative CSR program, which we implement and which its goals are linked to UN sustainable development goals, in addition to providing innovative Islamic banking services and products in line with the evolving needs of our customers and these countries through our banking units or representative offices, and we will continue our contributions to developing Islamic banking.
He added, winning these awards makes us feel proud of our belonging to Al Baraka Banking Group. It is also an international recognition of the outstanding achievements of the Group and its units, their prestigious positions, as well as their effective contribution to development of Islamic banking industry.
Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, 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 jointly 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 Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor's at BB+ (long term) / B (short term). Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2.1 billion.
The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in fifteen 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, Iraq, Saudi Arabia and Morocco, including two representative offices in Indonesia and Libya.
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