The Bahrain based leading Islamic banking group Al Baraka Banking Group (ABG), announced that, as part of its leading role in supporting the development of the Islamic financial industry and in continuation of its past participations, Al Baraka has had sponsored as a Golden sponsorship, the activities of the Annual Islamic Banking and Finance Conference organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the World Bank, which was opened in Bahrain yesterday. The conference was attended by distinguished internationally renowned Islamic banking personalities from different parts of the world. Al Baraka Banking Group has for many years been supporting and sponsoring all the events and activities that contribute to the development and promotion of the Islamic financial industry. Al Baraka Banking Group is keen to sponsor and support these specialized conferences in view of their strong link with the implementation of the Group's strategies in serving the Moslem communities in whose countries ABG units operate. Furthermore, the conference has now become an important platform that brings together all those concerned with or interested in the Islamic finance industry including scholars, bankers and government officials to discuss major issues related to the Islamic financial industry. Discussions at the Conference will be on issues relating to Islamic finance and overall economic systems, risk management, investment accounts, Takaful, application of Shari'aon Islamic finance, and development on accounting standards. Speakers and discussants at the Conference include leading Shari'a Scholars, representatives from financial regulatory authorities, Islamic financial institutions, and accounting and auditing firms. 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 bank providing its unique services to around one billion people and with Standard and Poor's investment grade long term counterparty credit rating of BBB- / A-3 (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$1.5 billion, while total equity amounts to about US$ 1.9 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 more than 400 branches. Al Baraka is currently having a strong presence in Jordan, Tunisia, Sudan, Turkey, Bahrain, Egypt, Algeria, Pakistan, South Africa, Lebanon, Syria, Indonesia, Libya, Iraq and Saudi Arabia.
