Manama: Bahrain based leading Islamic banking group, Al Baraka Banking Group (ABG) announced the joining of Mohammed Abdullah El-Qaq to the executive management of the Group as a Senior Vice President and Head of the Commercial Banking Department.
Expertise of El-Qaq in commercial banking and banking relationships with companies and financial institutions extends for more than 22 years, with high technical and marketing skills and great knowledge of GCC and Middle East markets, in addition to a proven track record in identifying and creating financial opportunities, business development and history of success with customers and markets.
“El-Qaq brings with him large experience and knowledge of GCC and Middle East markets, which will contribute to the support and development of the strategy which implements currently by Group in the regional expansion,” Adnan Ahmed Yousif, President and Chief Executive of Al Baraka Banking Group, said.
Al Baraka Banking Group is a Bahrain Joint Stock Company licensed as an Islamic wholesale bank by 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 and is rated 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 500 branches. Al Baraka currently has a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.