FRANCE - France in focus for Al Baraka in 2011

Al Baraka Banking Group has confirmed its plans to open in France, saying it will open up five branches in metropolitan France from 2011
 
Press reports in France claim that Al Baraka Chief Executive Adnan Yousif confirmed the bank's intentions to establish a presence in the country. The news that Al Baraka Banking Group plans to set up in France follows two years of activity by the French authorities aimed at attracting Islamic banking institutions. Al Baraka itself has been involved in a feasibility study which began in 2009.


The extension of the Bahrain-based bank's international network, including Malaysia and Indonesia, will be financed by issuing a $200 million Sukuk which should come to market in December. Al Baraka has selected Deutsche Bank and Standard Chartered as advisers.
Source : http://www.cpifinancial.net/v2/News.aspx?v=1&aid=6321&sec=Islamic%20Finance - Oct 20, 2010