Al -Baraka signs a strategic agreement with a guarantee to enhance commercial financing and international partnerships

Al -Baraka Islamic Bank, Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the signing of an important strategic partnership agreement with the Arab Investment Establishment and Export Credit (guarantee), allowing the bank to expand its international banking partnerships and provide innovative commercial financing solutions that meet the requirements of its customers in regional and global markets.

This agreement comes within the strategy of the Islamic Bank of Al -Baraka to enhance its capabilities in the field of commercial financing and expand the scope of its international banking services, as the bank will enable the provision of more flexible and efficient financing solutions to its customers, companies, importers and exporters, by providing strong insurance coverage for their cross -border commercial transactions, and in a way that contributes to increasing the volume of banking transactions with a wide network of banks in the region and the world.

This agreement will also allow the bank to take advantage of the distinguished “A+” A+ from Standard & Poor’s) to reduce the risks associated with international commercial transactions.

The signing ceremony of the agreement took place last Sunday at the headquarters of the Islamic Bank of Al -Baraka in the Gulf of Bahrain, where it was signed by the CEO, Dr. Adel Salem, and on the part of the Arab Corporation for the Investment and Export Credit Credit (guarantee) its general manager, Rashid Al -Haroun, in the presence of the head of banking services for companies and financial institutions at Al -Baraka Islamic Bank Hussein Attia, and a number of senior officials and directors of departments in the bank.

An important partnership for the development of commercial operations

On this occasion, the Director General of the Arab Investment Establishment and Export Credit (Warfa) Rashid Al -Haroun stated: “We are proud of our partnership with Al -Baraka Islamic Bank, which has a leading position in the Islamic banking sector in Bahrain.

He added: “A guarantee” provides its services to a group of the largest Arab and international banks, by providing effective solutions to risk management, as well as its role in expanding the limits of financing between banks and countries. We are confident that this important partnership will contribute to enabling Al -Baraka Islamic Bank to develop its commercial operations and support its customers in reaching new markets safely and efficiently, and opening new horizons for growth and success. “

Supporting sustainable growth in Bahrain and the region

For his part, the CEO of Al -Baraka Islamic Bank, Dr. Adel Salem, saying: “We are proud to sign this agreement with the Arab Investment Establishment and Export Credit, because of the added value it carries in enhancing our capabilities to provide advanced commercial financing solutions. It also opens a broader prospects for us to expand in regional and international markets, and benefit from the expertise (guarantee) and its extensive banking network in the region and the world.”

He added: “Our cooperation with (guarantee) reflects the commitment of the Islamic Bank of Al -Baraka to support sustainable economic growth in Bahrain and the region, by enhancing the ability of our valued customers to compete in global markets. This agreement will help us to diversify financing options and reduce risk, in order to enhance customer confidence and support their prosperity.”

Enhancing the bank’s competitiveness

The head of banking services for companies and financial institutions at Al -Baraka Islamic Bank, Hussein Attia, stressed the importance of the agreement, saying: “Our partnership with (guarantee), with its higher credit classification and extensive experience, will enhance our ability to provide more competitive and innovative commercial financing solutions, which supports our companies from companies in expansion locally and internationally with confidence and sustainability, and helps them to achieve their commercial goals.”

He added: “We see in this partnership a strategic opportunity to enhance the position of Al -Baraka Islamic Bank in the Islamic Commercial Finance Sector. It allows us to cooperate with (guarantee) to benefit from its wide network and its expertise in risk management, which will contribute to accelerating the pace of commercial transactions, and gives our customers a real competitive advantage in global markets.”

“Warranty” .. Arab leadership in securing investment and exports

The Arab Corporation for Investment and Export Security “guarantee” was established in 1974 in the State of Kuwait, as the first multilateral institution in the world to provide insurance services against commercial and non -commercial risks. It is owned by the governments of Arab countries and four Arab financial institutions, and has a credit classification from Standard & Poor’s since 2008. The “guarantee” has provided insurance services against political and commercial risks to support foreign direct investment flows to Arab countries, enhance Arab exports, inter -trade, and economic growth in the region. Thanks to its expertise, which is more than 50 years, “warranty” has secured exports and investments worth $ 29 billion, and works with more than 100 countries around the world.

Al -Baraka Al -Islami .. A banking march full of achievements

Al -Baraka Islamic Bank is considered one of the most prominent Islamic banks in the Kingdom of Bahrain and has succeeded since its inception in 1984 in achieving distinguished results in its services provided to its individuals and companies, and it has a busy record in the field of innovation and the development and provision of unique solutions for investment in line with the provisions of Islamic Sharia. It occupies an advanced position among the leading banks that offer Islamic banking products and services to a large number of international customers.