Al Baraka Group
 | |
 Headquarters in Cairo, Egypt | |
Company type | Private bank |
|---|---|
| Industry | Finance |
| Founded | 1978 |
| Headquarters | Manama, Bahrain |
Number of locations | 690 (2025)[1] |
Area served | Algeria, Bahrain, Egypt, Jordan, Lebanon, Pakistan, South Africa, Sudan, Syria, Tunisia and Turkey |
Key people | Abdullah Saleh Kamel, Chairman Mohamed Ebrahim Alshroogi, Vice Chairman |
| USD 1.3 billion (2025)[1] | |
| Total assets | USD 31 billion (2025)[1] |
| Total equity | USD 2.1 billion (2025)[1] |
Number of employees | 11 074 (2025)[1] |
| Parent | Dallah Al Baraka Group |
| Website | www |
Al Baraka Group B.S.C. is a Bahraini international Islamic financial group that provides retail, corporate, treasury, and investment banking services through banking subsidiaries in 13 countries.[2] Licensed by the Central Bank of Bahrain as an Investment Business Firm – Category 1 (Islamic Principles), it is headquartered in Manama, Bahrain.[3]
History
[edit]Al Baraka Group B.S.C. was established and registered on 27 June 2002 under a license from the Central Bank of Bahrain.
In 2006, Al Baraka launched an initial public offering, raising more than US$630 million and listing its shares on the Bahrain Bourse and Nasdaq Dubai.[4] Trading on both markets began in September 2006.[4] In 2017, the group issued US$400 million in Tier-1 Islamic sukuk, which was listed on the Irish Stock Exchange.[4]
In June 2020, Abdullah Saleh Kamel was appointed chairman, succeeding his father, Saleh Abdullah Kamel.[5]
In July 2022, the company changed its official name from Al Baraka Banking Group B.S.C. to Al Baraka Group B.S.C., after receiving regulatory approval to convert its license from Wholesale Bank (Islamic Principles) to Investment Firm Category 1 (Islamic Principles).[6]
In November 2023, shareholders approved the delisting of the company from the Bahrain Bourse and its conversion from a public shareholding company to a closed shareholding company, subject to regulatory approvals.[7] The shares were delisted from the Bahrain Bourse in July 2024.[8][9]
International operations
[edit]The global network of Al Baraka Group is present in 13 countries, as well under the Al Baraka and other brand names.[10]
Africa
[edit]
Algeria: (also known as Banque Al Baraka D'Algerie), operates since 1991.[11]
Egypt: (formerly known as Al Ahram Bank and Egyptian Saudi Finance Bank) operates since 1980.[12]
South Africa: Operates since 1989.[13]
Sudan: Operates since 1985.[14]
Tunisia: (formerly known as Saudi Tunisian Finance Bank until 2009), operates since 1983.[15]
Asia
[edit]
Iraq: (Albaraka Türk).
Jordan: Operates as Jordan Islamic Bank, was the first international operation of the bank, operates since 1978.[16]
Lebanon: Operates since 1992.[17] On November 19, 2022, the Central Bank of Lebanon officially seized control of Al Baraka Bank Lebanon, stripping the existing board of directors and executive management of their powers.[18]
Pakistan: (Al Baraka Bank Pakistan).
Syria: Operates as a joint-stock company since 2007.[19]
Turkey: (Albaraka Türk).
References
[edit]- ^ a b c d e Al Baraka Annual Report 2025
- ^ "Al Baraka Banking Group Sudan - AGE (African Growing Enterprises) File". Institute of Developing Economies. Retrieved 11 November 2025.
- ^ "Al Baraka Group B.S.C - Company Profile and News". Bloomberg.
- ^ a b c "Corporate Governance Report 2024" (PDF). Al Baraka Group.
- ^ "Appointment of Mr. Abdullah Saleh Kamel as the Chairman of the Board of Directors of Al Baraka Banking Group". Al Baraka Group. 8 June 2020.
- ^ "Changing the Operating License and Name". Al Baraka Group. 6 July 2022.
- ^ "Al Baraka Group Holds its e-Extraordinary General Assembly Meeting". Al Baraka Group. 14 November 2023.
- ^ "Al Baraka delists from Bahrain Bourse". Islamic Finance News. 3 July 2024.
- ^ "Al Baraka Group achieves growth in total assets to US$ 25.45 billion". Al Baraka Group. 14 August 2024.
- ^ "Al Baraka". Al Baraka. Archived from the original on 11 May 2015. Retrieved 22 April 2013.
- ^ Benelkadi, Kamel (12 April 2026). "La Banque Al Baraka Algérie inaugure une agence à Chelghoum El Aïd". El Watan (in French).
- ^ "Al Baraka Bank inaugurates new branch in Ismailia". Daily News Egypt. 5 August 2023.
- ^ "Ethical banking goes mainstream: Interview with Shabir Chohan, CEO, Al Baraka Bank South Africa". IBS Intelligence. 28 January 2026.
- ^ "Al Baraka Banking Group Sudan - AGE (African Growing Enterprises) File". Institute of Developing Economies.
- ^ "Al Baraka Bank Tunisia Adopts New Identity". Future Banking. 27 December 2009.
- ^ Roy, Delwin A. (1991). "Islamic Banking". Middle Eastern Studies. 27 (3): 427–456. ISSN 0026-3206.
- ^ Schellen, Thomas (1 February 2004). "Q&A: Tameem Jad". Executive Magazine.
- ^ "BDL names Ahmad Safa Al Baraka temporary director". BusinessNews. 10 May 2024.
- ^ "Presidente sirio se reúne con el empresario textil sirio Mohammad Sharbati". 14 April 2026.
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