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.

FRANCE - Albaraka Banking Group - Frankly speaking

One of the most active Middle Eastern Islamic banking organisations has been the Al Baraka Banking Group (ABG), led by the redoubtable Adnan Ahmed Yousif, who is also the Chairman of the Union of Arab Banks. Banker Middle East takes a look at what ABG is doing by way of its expansion plans, stress tests and boosting the Middle Eastern Sukuk market

Adnan Ahmed Yousif, Chairman of the Union of Arab Banks

Al Baraka claims that the success of the contemporary Islamic banking and finance movement owes much to the contribution and patronage of Sheikh Saleh Kamel, the founder of Al Baraka Banking Group.

The banking group puts as much emphasis on its corporate social responsibility (CSR) roots as it does on its extremely broad global footprint. It has a presence on several continents and Europe, more specifically France is next on its list. Al Baraka has operations in Jordan, Indonesia, Pakistan, Bahrain, Turkey, Syria, Lebanon, Tunisia, Algeria, South Africa, Sudan and Egypt.


“We consider the role of CSR in our organisation to be essential to the application of the principles derived from divine power and on which our business activities in all the countries in which we operate are based. All our subsidiaries embrace Islamic ethical principles and apply them to their banking operations and services,” the bank says on its website.