Al Baraka supports Bahrain initiatives

02/05/2016 08:15 AST

The Bahrain-based leading Islamic banking group, Al Baraka Banking Group, reaffirmed its support for the efforts made by Bahrain to develop relations with its sister Arab countries.

On the sidelines of the Egyptian Bahraini Business Forum, which was held on the occasion of the official visit of His Majesty King Hamad to Egypt, with the co-operation of Al Baraka Islamic Bank Bahrain, Al Baraka Bank Egypt hosted a gala dinner for Bahraini businessmen taking part in the forum. It was attended by Al Baraka Islamic Bank chief executive Mohammed Issa Al Mutaweh, Al Baraka Bank Egypt CEO Ashraf El Ghamrawy and officials from the two banks.

Industry, Commerce and Tourism Minister Zayed Al Zayani led the Bahraini side. Also present were Central Bank of Bahrain Governor Rasheed Al Maraj, Bahrain Chamber of Commerce and Industry chairman Khalid Almoayed as well as members from the Egyptian business community.

The forum achieved great success, with the signing of 11 agreements. They expressed desire to expand trade and co-operation between the two countries. The agreements covered most areas such as services, research, fertiliser and other important sectors of the economy. They expect to increase the volume of trade exchange between the two countries from $400 million currently to a billion dollars over the next few years.

Al Baraka Banking Group president and CEO Adnan Ahmed Yousif emphasised the group’s keenness to support the initiatives undertaken by Bahrain.

“We, at Al Baraka Banking Group, and being present in 15 Arab, Asian and African countries, including Egypt, renew our resolve to continue to make every effort to crystallise the results of the visit into business, financing and investment opportunities,” he said.

Gulf Daily News