Al-Baraka Banking Group (ABG) appointed Abdullah Saleh Kamel as the board's new chairman, succeeding late Sheikh Saleh Abdullah Kamel, the group's founder who passed away last month.
The Group is based in Bahrain and the Central Bank of Bahrain issued a statement approving the appointment.
For more than 30 years, Abdullah has been working in the financial, business, and investment sectors and has accompanied the establishment of his father’s projects, including al-Baraka Banking Group.
The Group is one of the most prominent institutions in Islamic banking, where Abdullah served as vice-chairman for years. He was also chairman of the Group’s executive committee, contributing to the development of frameworks and strategies.
Abdullah Kamel hold the executive presidency of Dallah al-Baraka Group in Saudi Arabia. He also chairs the boards of directors of a number of companies with different activities in investment, real estate, finance, and media, including: Aseer Company, Amlak Real Estate Development and Finance, Okaz Press and Publishing Corporation, and the vice-chairman of King Abdullah Economic City Emaar.
Abdullah thanked the board for appointing him to the position, affirming that he would continue in his father's approach, adhering to the principles of modern Islamic banking.
CEO of al-Baraka Adnan Ahmed Youssef said that Abdullah is one of the founders of the group and has the full confidence of its board, adding that the approval of the board of directors for his appointment is a guarantee that the group will continue the same approach of its founder.
Al-Baraka Banking Group (ABG) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and NasdaqDubai. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion.
With a capital of $2.5 billion, ABG offers retail, corporate, treasury, and investment banking services in its subsidiary banking units and representative offices in 17 countries.
Al-Baraka Banking Group has operations in 700 branches in: Jordan, Egypt, Tunis, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Saudi Arabia, Syria, Morocco and Germany, in addition two branches in Iraq and two representative offices in Indonesia and Libya.
