ABG delegation, President discuss economic situation


Observer Report


A delegation of Al Baraka Banking Group (ABG), led by its President & Chief Executive, Adnan Ahmed Yousif, recently called on the President of Pakistan, Dr. Arif Alvi. Accompanying the delegation were the Deputy Chairman of Al Baraka Bank Pakistan, Tareq Mahmood Kazim, as well as the CEO of Al Baraka Bank Pakistan, Ahmed Shuja Kidwai. The delegation discussed the current economy of the country including the prospects of banking sector of Pakistan.
Dr. Alvi emphasized on government’s commitment towards turning Pakistan into a modern Islamic Welfare State. He also appreciated the role played by Al Baraka Bank Pakistan in providing Shariah compliant product and services in the country. President Alvi also said the revival of economy is one of the top priorities of the government and as a result, Pakistan’s position on ‘Ease of Doing Business Index’ has improved significantly.
On this occasion, Adnan said that Al Baraka Banking Group is committed in promoting Islamic Banking and Shariah Compliant financial solutions, globally as well as in Pakistan. He also said that Al Baraka is operating in Pakistan since 1992 providing Riba-Free halal banking solutions and will continue to contribute for the betterment of the society and its welfare. Al Baraka Bank Pakistan is part of Al Baraka Banking Group, which is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion.
It is rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national by Islamic International Rating. ABG offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a.