24/01/2012 21:58 AST

Bahraini lender Al Baraka Bank's Turkish subsidiary will go ahead with a $200 million Islamic bond issue in the first quarter, after delaying a sale last month due to pricing concerns, the bank's chief executive said.

'We will launch the sukuk in the first quarter of this year,' Adnan Ahmed Yousif said in an interview on the sidelines of an Islamic finance and banking conference in Oman.

Albaraka Turk Participation Bank is Al Baraka's largest unit and the first bank in Turkey to operate on Islamic principles. It said in December it had postponed the planned issue because the yields investors expected were too high.

Strong demand for a $350 million sukuk issued by Turkish bank Kuveyt Turk in October has underlined how Turkey may become a major source of Islamic bonds for Gulf investors keen to diversify geographically.

The Islamic banking group posted a net income of $166 million in the first nine months of 2011, an increase of 13 percent over the same period in 2010.

'2012 will be better than 2011, we anticipate to improve our balance sheet by 15 percent over last year,' Yousif said.

In October, he said Al Baraka Bank was keen on expanding into Libya following the change in government, and to expedite its previously filed Islamic banking license in the country.

'We are planning another 50 branches in 2012, in countries such as Turkey, Pakistan, Algeria, Egypt and Tunisia,' he said.

He also reiterated that the creation of a long-touted $3 billion Islamic megabank would still go ahead, and the project was now placed in the hands of the Islamic Development Bank (IDB).


Reuters

Al Baraka Banking Group completes inaugural Sukuk transaction

01/06/2017

Following a 15 year presence in the Shari'ah compliant market, ABG has successfully completed the transaction of its maiden Sukuk issuance. The Sukuk was well received in the GCC, Asian and European

CPI Financial

Al Baraka Banking gives initial price guidance for dollar Sukuk

23/05/2017

Bahrain's Al Baraka Banking Group has given an initial price guidance in the low- to mid-8 percent area for a potential U.S. dollar-denominated Tier 1 sukuk non-callable for five years, a document i

Reuters

Al Baraka Banking Q2 net profit dips

08/08/2016

Bahraini Islamic lender Al Baraka Banking Group reported a 2.8 percent dip in second-quarter net profit on Sunday.

The bank, which has operations in more than a dozen countries, made a net

Reuters

Ticker Price Volume
QNBK 124.80 275,932
SABIC 100.01 2,889,924
ALINMA 17.73 19,061,890
TAWUNIYA 92.21 115,275
WALAA 26.57 54,241
EEC 17.21 992,484
BURUJ 33.87 233,590
BARKA Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
GFH 0.47 -0.01 (-1.07%)
ABC 0.29 -0.01 (-1.73%)
UGB 0.39 0.00 (0.00%)
INVCORP 8.75 0.00 (0.00%)
ITHMR 0.13 0.00 (0.00%)
Investcorp grows residential real estate portfolio with $350 million

25/09/2017

Investcorp, a leading provider and manager of alternative investment products, today announced that its US-based real estate arm has invested in six multifamily properties in Florida and Arizona, for

CPI Financial

Commercial Bank of Qatar looks to Asian funding amid Arab boycott

25/09/2017

Qatar's third-largest lender, Commercial Bank of Qatar (CBQ), is considering borrowing money on the Taiwanese bond market, its group chief executive told Reuters, as a crisis in the region makes it h

Reuters

Vodafone Qatar launches Smart V8 and Smart E8

25/09/2017

Vodafone Qatar has launched two new 4G smartphones in its Vodafone Devices range, the Smart V8 and Smart E8. Both use the latest Android Nougat operating system. Vodafone Devices are designed by the

Telecompaper

ADGM Partners with ADIB to enhance Abu Dhabi’s fintech ecosystem

25/09/2017

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, today marked a new partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution, to seek opportunit

CPI Financial

QIB named as safest Islamic bank in Qatar

25/09/2017

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank has been recognised by Global Finance as the safest Islamic Bank in Qatar and one of the safest Banks in the Middle East and Emerging Markets.

The Peninsula Qatar