Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, has signed a significant strategic partnership agreement with the Arab Investment and Export Credit Guarantee Corporation (Dhaman).
The agreement will enable the Bank to expand its international banking partnerships and provide innovative trade finance solutions tailored to meet the needs of its clients in regional and global markets.
This agreement comes as part of Al Baraka Islamic Bank’s strategy to strengthen its trade finance capabilities and broaden its international banking services. It will allow the Bank to offer more flexible and efficient financing solutions to its corporate clients, importers, and exporters by providing strong insurance coverage for cross-border transactions.
This will contribute to increasing the volume of banking operations with an extensive network of banks across the region and worldwide. The agreement also enables Al Baraka Islamic Bank to leverage Dhaman’s strong A+ credit rating from Standard & Poor’s, reducing risks in international trade transactions.
The agreement was signed at at the Bank’s headquarters in Bahrain Bay, by Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, and Rashed Ahmed Al Haroun, Director General of Dhaman, in the presence of Mr. Husain Yousif Atiya, Chief Corporate and Institutional Banking Officer, along with senior executives and department heads.
Dr Adel Abdullah Salem CEO – Al Baraka Islamic Bank
“We are proud to sign this agreement with Dhaman, given the added value it brings in enhancing our ability to deliver advanced trade finance solutions. It also opens wider horizons for expansion in regional and international markets, enabling us to benefit from Dhaman’s expertise and extensive banking network across the region and the world. Our cooperation with Dhaman reflects Al Baraka Islamic Bank’s commitment to supporting sustainable economic growth in Bahrain and the wider region, by empowering our clients to compete effectively in global markets. This agreement will help us diversify financing options, mitigate risks, strengthen client confidence, and support the prosperity of their businesses.”
Rashed Ahmed Al Haroun, Director General of Dhaman, noted that, “The agreement Al Baraka with comes as part of our continuous efforts to support major financial institutions in the region and to encourage their expansion in trade activities. Dhaman serves a select group of the largest Arab and international banks by providing effective risk management solutions, while also playing a key role in broadening trade and financing between banks and countries.”
Al Haroun further expressed confidence that the strategic partnership would enable Al Baraka Islamic Bank to expand its trade operations, assist clients in accessing new markets safely and efficiently, and unlock new opportunities for growth and success.
