Based on its well-established approach to developing innovative banking solutions and enhancing customer experience, Al Baraka Islamic Bank, one of the units of Al Baraka Group, announced the launch of a cross-border banking service that allows its customers to open bank accounts in the Arab Republic of Egypt with complete ease, in a new step that reflects the bank’s commitment to expanding the scope of its international services and providing integrated banking services that meet the aspirations of its customers inside and outside the Kingdom.
This step comes as an extension of the success achieved by Al Baraka Islamic Bank in launching its cross-border banking services with the Republic of Turkey during the past year, which received positive response from customers and contributed to expanding the range of international banking options available to them, which reflects the efficiency of this model and its ability to meet customer needs across multiple markets.
Through this new service, Al Baraka Islamic Bank customers will be able to open and manage direct bank accounts in Egypt, including current and savings accounts, in addition to agency accounts and time deposits, providing a flexible banking experience that connects customers to one of the most important banking markets in the region.
This initiative reflects the strategic vision and ongoing efforts of Al Baraka Group, based on the close cooperation between its two banking units, Al Baraka Islamic Bank – Bahrain and Al Baraka Bank Egypt, where Al Baraka Islamic Bank in Bahrain is leading the implementation of this service in the Kingdom. This cooperation contributes to strengthening cross-border Islamic banking and facilitating smooth banking transactions between the Kingdom of Bahrain and the Arab Republic of Egypt.
On this occasion, Hossam bin Al Haj Omar, CEO of Al Baraka Group, said: “This initiative represents an important milestone in Al Baraka Group’s journey towards strengthening its regional and international presence, as the launch of this service reflects our vision of providing advanced banking solutions that meet the growing needs of customers and give them wider access to high-quality Islamic banking services. This cooperation also opens new horizons for joint growth and enhances our ability to provide innovative products and services that are in line with developments in different markets.”
For his part, Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, said: “The launch of this service reflects Al Baraka Islamic Bank’s continued commitment to providing an integrated banking experience based on ease of access, flexibility and efficiency, which allows our customers to expand their banking options and meet their personal and commercial needs. We look forward to building a long-term partnership with Al Baraka Bank – Egypt that contributes to supporting the future of Islamic banking and providing real added value to customers.”
Al Baraka Islamic Bank is considered one of the most prominent Islamic banks in the Kingdom of Bahrain. Since its establishment in 1984, it has succeeded in achieving distinguished results in its banking services directed to individuals and companies. It has a long track record in the field of innovation and providing investment and financing solutions that are compatible with the provisions of Islamic Sharia. The bank also continues to play its leading role in supporting social responsibility and sustainability initiatives, occupying a prominent position among the leading banks that provide Islamic banking services to its customers around the world.
