Al Baraka Islamic Bank B.S.C. (E.C.)
Al Baraka Islamic Bank is a leading Islamic Bank operating in Bahrain, covering Saudi Arabia, UAE, other GCC countries and Pakistan. The bank has a large base of customers who aspire to conduct their investments and financial transactions on the lines of Islamic Sharia. AlBaraka is a joint stock company registered in Bahrain as an exempt company. The Bank was incorporated and licensed to operate from Bahrain as an Off shore bank on the 16th Ramadhan 1404H, corresponding to 21st February 1984.
The Bank operations are conducted under the vigilance of the Bahrain Monetary Agency. The paid up capital of the bank is US dollars 50 million, divided into 0.5 million shares of US dollars each. AlBaraka is a part of Dallah AlBaraka Group(DBG)of Saudi Arabia which was founded in 1969.DBG is one of the largest diversified business groups in Saudi Arabia. With interests in over 300 companies, across 44 countries,DBG has a work force of 60,000.The groups assets exceed US$7 billion mainly in business and finance sectors.
Around the world, there are 23 banks and financial institutions working under the name of AlBaraka.Dallah AlBaraka Group has decided to gradually combine the financial reporting and monitoring of a number of AlBaraka entities under one holding company-AlBaraka Banking Group(ABG),which is based in Bahrain. This step will enhance the standing of AlBaraka banks and bring out a solid institution for the good shareholders and investors alike.