Latest news with #AlBarakaIslamicBank
Daily Tribune
20-05-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank names Ebrahim Abdullah as winner of Half-a-Million USD
Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in Bahrain, has announced the winner of the May 2025 alBarakat Grand Prize. Mr. Ebrahim Ahmed Abdulla has been awarded a monthly salary of totalling $500,000 on the span of four years. The draw for the May 2025 alBarakat Grand Prize was conducted in the presence of bank officials with internal and external auditors, under the supervision of the Ministry of Industry and Commerce. The winner was announced and honoured during a special ceremony held on Wednesday, 14 May, at the bank's headquarters in Bahrain Bay. This month's Grand Prize is part of the ongoing alBarakat Awards, which exemplify the bank's commitment to offering valuable prizes throughout the year. The initiative aims to provide customers with an exceptional banking experience that aligns with their aspirations and ambitions. The 2025 alBarakat Grand Prizes total $4 million, making them the largest of their kind. The upcoming Grand Prizes draws are scheduled for June and July, featuring monthly salaries of $10,000 for one year, totalling $120,000, awarded to one lucky winner in each draw. Dr Adel Salem, CEO of Al Baraka Islamic Bank, stated, "Congratulations to Mr Ebrahim Ahmed Abdullah and his family on winning the May 2025 Grand Prize. We wish all our customers the best of luck in upcoming draws, which will feature more valuable prizes to enrich their lives and help realise their financial goals." Mr Mazin Dhaif, Chief Retail Officer, commented, "We are delighted to continue offering alBarakat Grand Prizes as a token of appreciation for our customers' trust and loyalty. Congratulations to Mr Ebrahim Abdullah on winning the May Grand Prize which is a monthly salary for four years, totalling $500,000, wishing him the very best.' He continued, 'We anticipate the coming months for more valuable prizes and encourage everyone to participate and increase their chances of winning by investing or maintaining higher balances in their alBarakat accounts." On his part, Mr. Ebrahim Ahmed Abdullah expressed his delight at winning the prize, thanking Al Baraka Islamic Bank for the honor and encouraging others to open and invest in the alBarakat Account, highlighting its excellent savings benefits and multiple opportunities to win valuable prizes throughout the year. Compliant with Islamic Sharia principles, alBarakat Account provides numerous opportunities to win cash prizes throughout the investment period by depositing a minimum of BD50 or USD135.
Daily Tribune
15-05-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank joins Al Helli supermarkets in celebrating golden jubilee
Al Baraka Islamic Bank Bahrain, a leading Islamic financial institution in the Kingdom, has recently announced the launch of a special promotional campaign to join Al Helli Supermarkets in celebrating their Golden Jubilee, marking 50 years since their establishment in the Kingdom of Bahrain in 1975. The promotional campaign will start May 15th and will run until June 15th. During this period, Al Baraka Islamic Bank will select 50 customers by draw to win a full cashback refund on their purchases made in Al Helli Supermarkets using Al Baraka Mastercard credit cards, up to a maximum of BD200, provided they spend at least BD50 per transaction during the promotional period. On this occasion, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, stated: 'We are delighted to join Al Helli Supermarkets in celebrating their Golden Jubilee and 50 years of successful operations in the Kingdom of Bahrain, through the launch of this exclusive promotional campaign. This initiative gives our valued Mastercard credit cardholders rewarding opportunities to win full cashback on their purchases when using their cards in any branch of Al Helli Supermarkets across Bahrain. This campaign affirms that the strategic partnership between Al Baraka Islamic Bank and Al Helli Supermarkets extends beyond this promotional initiative, ensuring that the relationship remains ongoing and continues to evolve through future joint projects and offers.' He added: 'This initiative is part of Al Baraka Islamic Bank's strategy to strengthen our relationships with partners and expand the scope of our services. The Bank is always keen to offer unique promotions that meet the aspirations of our customers and provide them with opportunities to win exclusive rewards. Our partnership with Al Helli Supermarkets is an example of our commitment to providing exceptional shopping experiences and greater value to our loyal customers, by expanding our network of partnerships and collaborating with leading commercial organisations in the Kingdom. We invite all our valued customers to seize this opportunity and benefit from this valuable promotional campaign, making their shopping experience during this period both rewarding and profitable at Al Helli Supermarkets.' For his part, Mr. Ammar Al Helli, Chairperson of Al Helli, said: 'We are proud of our 50-year journey serving the Bahraini community through our network of Al Helli Supermarkets branches located throughout the Kingdom, where we provide a comprehensive shopping experience and offer a wide range of high-quality products to our valued customers.' He added: 'As we celebrate 50 years since the founding of Al Helli Supermarkets, we are pleased to collaborate with Al Baraka Islamic Bank in launching this special promotional campaign, providing our valued customers with a rewarding and profitable shopping experience. We welcome all customers visiting Al Helli Supermarkets to benefit from this valuable campaign and look forward to serving all our valued customers and meeting all their shopping and product needs.' Al Helli Supermarkets began its journey in 1975, starting as a small shop and growing to become one of the most prominent and successful institutions in the retail sector in the Kingdom of Bahrain, now boasting 14 branches across the Kingdom.
Daily Tribune
07-05-2025
- Business
- Daily Tribune
Al Baraka Islamic strengthens partnership with Delmon Gate Real Estate
Al Baraka Islamic Bank Bahrain, a leading Islamic financial institution in the Kingdom, has recently announced the expansion of its strategic partnership with Delmon Gate Real Estate Company, a prominent developer in Bahrain. This collaboration aims to provide accessible and diverse housing financing solutions enabling citizens to purchase residential units within Delmon Gate's projects. The signing ceremony took place at Al Baraka Islamic Bank's headquarters in Bahrain Bay, where Mr. Mazin Dhaif, Chief Retail Officer, and Mr. Ali Abdulla, CEO of Delmon Gate Real Estate, officially signed the agreement in the presence of senior managers and officials from both sides. Aligned with Al Baraka Bank's commitment to addressing the housing needs of Bahraini citizens and promoting integration of banking and real estate sectors, this enhanced partnership seeks to broaden access to ownership of Delmon Gate projects. It offers tailored financing solutions designed to accommodate various financial capabilities, supporting the Kingdom's social housing initiatives in collaboration with the Ministry of Housing and Urban Planning as well as Eskan Bank, in line with Bahrain's Economic Vision 2030. The bank provides a range of innovative real estate financing options including Flexible Real Estate Financing which allows adjustment of profit rates every six months based on Bahrain's variable bank rates, enabling customers to benefit from potential rate reductions or effectively manage increases. Additionally, the bank provides social housing financing, which includes the newly launched Tasheel+ Instant Housing Finance. This allows customers to access funding of up to 91,000 Bahraini Dinars, with evaluation criteria based on beneficiaries' monthly incomes ranging from BHD 600 to BHD 1,200. This ensures quick procedures and meets the various circumstances of customers, along with other financial solutions designed to cover the needs of Bahraini families. Commenting on the partnership, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank stated: 'Our innovative financing solutions are designed to meet the evolving needs of Bahraini families, fostering economic growth and creating an attractive environment for real estate investment. Therefore, we have designed a range of innovative real estate financing solutions that meet the actual needs of Bahraini families. These include financing for the purchase of ready-to-move-in homes, as well as construction finance for land purchases and building one's dream home at once—key offerings that set the bank apart in serving its customers.' Mr. Ali Abdulla, CEO of Delmon Gate Real Estate added, 'The expansion of this strategic partnership will offer citizens a genuine opportunity to own homes that meet their needs and secure a stable future. It also reflects our company's commitment to providing sustainable and innovative housing solutions that support the national economy through a comprehensive approach integrating banking and real estate expertise.' Al Baraka Islamic Bank is a leading Islamic bank in the Kingdom of Bahrain. Since its establishment in 1984, it has delivered outstanding results in operations and services for both individual and corporate clients. The bank has a proven track record of developing and providing innovative Shari'a-compliant investment solutions to a diverse global client base.
Daily Tribune
01-05-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank launches Quick Finance
Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of 'Quick Finance' for Corporate & SME clients, an innovative addition to its product suite designed to support companies in managing their working capital needs. This new financing solution from Al Baraka Islamic Bank offers Corporate & SME clients the speed and flexibility to access funds, enabling them to manage daily operations efficiently, ensure seamless business continuity and enhance their growth and competitiveness. Tailored solution The 'Quick Finance' provides a banking solution tailored to companies' cash-flow cycles, offering the flexibility required to meet evolving market demands. The product is designed to guarantee rapid and straightforward access to finance, allowing businesses to maintain liquidity and financial stability without compromising their agility or growth potential. On this occasion, Mr Amr Mohamed Al Shaher, Head of Corporate Banking at Al Baraka Islamic Bank, commented: 'We are delighted to announce the launch of 'Quick Finance' for Corporate & SME clients, which reflects Al Baraka Islamic Bank's ongoing efforts to develop effective and streamlined banking solutions that meet the diverse needs of our esteemed clients, particularly the corporate sector given its significant economic importance and pivotal role in the national economy.' He continued: 'The introduction of 'Quick Finance' aligns with Al Baraka Islamic Bank's commitment and continual dedication to supporting the growth of companies in the Kingdom of Bahrain by offering flexible and rapid access to financing through simple steps, thereby contributing to the success and prosperity of their business activities and enhancing their growth prospects and competitive capabilities.' 'At Al Baraka Islamic Bank, we believe in the importance of the corporate sector as a fundamental pillar and essential driver of the national economy. Accordingly, we remain determined to uphold our commitment to delivering further innovative banking initiatives and solutions that equip companies and SMEs with the necessary tools to meet their operational capital requirements and manage cash flows with ease, supporting and stimulating their efforts to develop their businesses and foster growth opportunities,' Mr Al Shaher added. Al Baraka Islamic Bank is among the foremost Islamic banks in the Kingdom of Bahrain. Since its inception in 1984, it has achieved outstanding results across its retail and corporate operations, earned a reputation for innovation and developed Sharia-compliant investment solutions.
Daily Tribune
30-04-2025
- Business
- Daily Tribune
Expands Private Banking and Wealth Management Services for HNW Clients
Al Baraka Islamic Bank Bahrain, one of the lead‑ ing Islamic banks in the Kingdom of Bahrain, has an‑ nounced the enhancement and expansion of its Private Bank‑ ing and Wealth Management services as part of its strategy to meet the growing needs of High‑Net‑Worth (HNW) clients. The initiative includes expanding the dedicated wealth‑management team, launching innovative products and providing personalised fi‑ nancial advisory services across areas such as financial planning, asset allocation and Sharia‑com‑ pliant investments. Names head In this context, the Bank also announced the appointment of Ms Fayza Hassan as Head of Pri‑ vate Banking and Wealth Man‑ agement—the unit is responsible for delivering specialised finan‑ cial solutions and services to HNW clients. Ms Hassan brings a distinguished banking career spanning many years and deep expertise in managing relation‑ ships with affluent clients and providing tailor‑made financial advice. This appointment is a strate‑ gic move that reflects Al Baraka's commitment to enhancing its internal capabilities and attracting qualified banking leaders, in line with its vision to deliver an exceptional banking experience that meets clients' evolving needs. It also demonstrates the Bank's determination to expand its private‑banking services and reach a broader segment of valued clients through advanced financial solutions built on trust, professionalism and differentiation. Crafted solution On this occasion, Mr Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, said: 'Today's expansion of our Pri‑ vate Banking and Wealth Man‑ agement offering represents a key strategic milestone in our comprehensive plan to devel‑ op and elevate our premium services. At Al Baraka Islamic Bank, client satisfaction is at the core of our priorities, and we continuously strive to provide a banking experience that upholds the highest standards, especially for our HNW clients, whose complex needs demand ad‑ vanced and meticulously crafted solutions.' He added: 'This initiative underscores our ongoing com‑ mitment to enhance the value we deliver by broadening our service spectrum, leveraging highly skilled professionals and adopting the latest Sharia‑com‑ pliant banking practices. We are confident that these develop‑ ments will further cement Al Baraka Islamic Bank's position as a leading institution in Private Banking and Wealth Manage‑ ment, both locally and region‑ ally. We firmly believe that an‑ ticipating our clients' needs and innovating around them, with personalised service and rela‑ tionships built on mutual trust, are the foundations of long‑term success.'
