Islamic finance awards 2013: Al Baraka
Best Islamic bank in Bahrain
The Al Baraka Banking Group has become one of the most powerful Islamic banks in the region, with representation across 14 countries and 400 branches from Jordan to Pakistan and Indonesia. Bahrain is the heart of the operation, from which Al Baraka has been a pioneering force in Islamic banking, established in 1984. As of September 30 2012, Al Baraka had BD493 million ($1.3 billion) in assets, while its parent, Al Baraka Banking Group, posted a 12% rise in third-quarter net profit.