Al Baraka Group banking units win over 10 IFN awards for outstanding services
Al Baraka Group announces that four of its banking units have won over 10 awards at the recent Islamic Finance News (IFN) Awards ceremony held in Dubai.
Al Baraka Bank Egypt was recognized as the Best Islamic Retail Bank and Best Digital Offering in Egypt. Al Baraka Bank South Africa received the awards of Best Islamic Bank in South Africa and Best Islamic Corporate & Retail Bank. Al Baraka Bank Tunisia was honored as the Best Islamic Bank in Tunisia, Best Islamic Corporate & Retail Bank, in addition to being recognized for Most Innovative Offering and Best Digital Offering. Furthermore, Jordan Islamic Bank was awarded as the Best Islamic Bank in Jordan, Best Islamic Investment & Retail Bank, and Most Innovative Islamic Bank in Jordan.
This achievement reflects Al Baraka Group's commitment to providing world-class Sharia-compliant financial solutions. Winning these prestigious awards in a single year further strengthens the Group's position in the Islamic banking sector and highlights the trust of its customers and stakeholders, as the winners are selected through an extensive industry-wide voting process.
Mr. Houssem Ben Haj Amor, Board Member and Group CEO of Al Baraka Group, stated:'This achievement aligns with our ongoing mission to provide ethical, customer-centric financial services that adhere to Sharia principles. Through our banking units, we continue to innovate and enhance digital offerings to promote financial inclusion, support economic growth, and uphold the highest standards of Islamic banking. As we celebrate this recognition, we extend our sincere gratitude to our banking units, customers, employees, and partners, reaffirming our commitment to excellence'.
The IFN Awards are among the most prestigious in the global Islamic finance industry, recognizing institutions that demonstrate outstanding performance and make a tangible impact in their markets. Winners are selected through an industry-wide voting process, reflecting the confidence and trust of customers and stakeholders in the awarded banks.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
2 days ago
- Daily Tribune
Bahrain firm powers UAE launch
TDT| Manama Bahrain's fintech leadership is driving digital change in the UAE, with Bahrain-based Arab Financial Services (AFS) powering the launch of a fully app-based credit card solution in collaboration with Mawarid Finance. The new platform lets customers apply, receive, and manage credit cards instantly, without visiting a branch or signing a single form. Bahrain-built, region-ready The end-to-end solution, developed and enabled by AFS, marks a major milestone in the GCC's shift toward mobile-first financial services. Regulated by the Central Bank of Bahrain, AFS is playing a growing regional role in delivering seamless digital finance tools across borders. The app allows users to complete the full credit card journey - from application to approval to daily account management - directly from their smartphones. It eliminates the need for physical paperwork or in-person appointments and offers real-time access to spending data and account controls. Shariah-compliant and secure Mawarid Finance, the UAEbased Islamic finance group, partnered with AFS to design the solution to be both fully Shariah-compliant and aligned with modern security standards. Executives from both companies signed the agreement at a recent ceremony, underscoring their shared commitment to digital innovation. 'This platform reflects our commitment to making secure, efficient, and simple financial access a reality for our customers,' said Rashid Al Qubaisi, CEO of Mawarid Finance. AFS CEO Samer Soliman noted: 'Our partnership with Mawarid proves the strength of Bahrain's fintech sector in enabling advanced digital services across the region. It's a model of how traditional institutions and fintech can work together to deliver scalable, intuitive solutions.' Founded in Bahrain in 1984, AFS has become the region's leading digital payment solutions provider, with operations in Bahrain, Egypt, Oman, and the UAE. The launch with Mawarid adds to a growing list of projects where Bahrain-grown fintech tools are transforming user experience far beyond its borders.
Daily Tribune
3 days ago
- Daily Tribune
Al Baraka posts strong quarterly turnaround
TDT | Manama Al Baraka Group has reported a strong financial turnaround in the first quarter of 2025, reversing last year's losses and delivering a 19% rise in net income attributable to shareholders. The Group registered USD 34 million in total comprehensive income during the quarter, a sharp contrast to a USD 60 million loss in the same period of 2024. Earnings rebound The Group's net income attributable to the parent company's shareholders rose to USD 46 million in Q1 2025, up from USD 39 million last year. Total net income also saw a 19% increase, reaching USD 91 million. Executives credited the gains to rising financing volumes, expanded activity in key markets including Turkey, Jordan, and Egypt, and lower foreign currency translation losses. Basic earnings per share improved to 3.84 US cents, compared to 3.23 US cents in Q1 2024. Strengthening capital Al Baraka's total equity attributable to shareholders and sukuk holders rose 2% to reach USD 1.28 billion, while total equity grew to USD 2.03 billion by the end of March. The Group also recorded a 4% increase in total assets, which stood at USD 27.24 billion, driven by stronger customer deposits and business growth in core markets. Chairman Sheikh Abdullah Saleh Kamel said the Group's performance was anchored in its commitment to strategic expansion, disciplined risk oversight, and continued support for the communities it serves. Innovation focus Group CEO Houssem Ben Haj Amor highlighted the Group's resilience in the face of global uncertainty, citing its focus on long-term financial sustainability, investment returns, and digital banking innovations. Recent initiatives such as the 'Trade Finance Platform' and 'Borderless Banking' are part of the Group's drive to enhance competitiveness across its international network. With operations in 13 countries and over 600 branches, Al Baraka continues to position itself as a key Islamic financial player committed to growth and innovation in a changing global environment.
Trade Arabia
3 days ago
- Trade Arabia
Park Rotana, Park Arjaan by Rotana win big at Haute Grandeur Global Hotel Awards
Park Rotana and Park Arjaan by Rotana have announced their outstanding achievements at the Haute Grandeur Global Hotel Awards 2025, securing two major accolades that reaffirm their leadership in the hospitality sector. As five-star properties renowned for delivering exceptional guest experiences, Park Rotana and Park Arjaan by Rotana continue to lead Abu Dhabi's hospitality scene. Park Rotana earned the title of 'Premier Corporate City Hotel', reaffirming its status as a top destination for discerning business travellers in the UAE capital. Simultaneously, Park Arjaan by Rotana was honoured with the award for 'Best Contemporary Hotel', recognising its sophisticated design, upscale residential-style accommodation, and consistently high standards of service. 'These awards are a true reflection of the dedication, passion, and consistency our team delivers every day,' said Eleni Tsolakou, General Manager of Park Rotana Complex. 'It's a proud moment for all of us to see both properties recognised among the best in the industry.' The Haute Grandeur Global Hotel Awards are internationally regarded for celebrating excellence across the hotel industry, honouring properties that consistently deliver outstanding hospitality experiences.
