Manama - The Bahrain based leading Islamic banking group, Al Baraka Banking Group B.S.C (ABG) signed an agreement to sponsor the prime "Musharaka" Islamic finance program, which aired by CNBC Arabia on Thursday of each week and re-broadcast on Saturday.
Mr. Adnan Ahmed Yousif Board Member and President & Chief Executive of Al Baraka Banking Group singed the sponsorship agreement, which extends for a period of one year, on behalf of the Group, while Mr. Mohammed Burhan, CEO of the channel signed on behalf of the CNBC Arabia.
On this occasion, Mr. Adnan Ahmed Yousif said: "We are delighted to sponsor one of the most prominent Islamic finance and economic programs broadcasted by CNBC Arabia, which embodies our commitment to cooperate with the high-profile media organizations that provide services for a broad categories of decision-makers, professionals, academics and interested audience, and enhance economic and investment culture and awareness and this will support our social mission in the service of these categories. At the same time, this sponsorship will contribute to enhancing the strong and excellent emergence of the Group and its units amid those categories, CEOs community, banks and the financial industry, which will make us partners with them in achieving the mutual benefits.
It is noteworthy that "Musharaka" program is CNBC Arabia's prominent Islamic Finance show, that covers all financial, investment and trade activities that comply with the Islamic Shari’a. The show reviews the most prominent news of the Islamic financial sector on both global and regional level, through interviewing officials, specialists in the Islamic Financial sector and as well as covering the old and current Islamic financial legislations. Furthermore, it sheds the light on banks, institutions and companies working within the sector and highlights the important developments and updates that occur within them on weekly basis.
CNBC Arabia is the Arab World's preeminent and only 24 hour Arabic language financial and business information Channel, presenting in-depth coverage of regional and international affairs from an Arab economic perspective. For the first time, Arab audiences have access to sustained financial and economic news coverage of the region presented in Arabic.
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 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 and Saudi Arabia, including two representative offices in Indonesia and Libya.
© Press Release 2017
