Al Baraka Group (ABG), the leading Islamic financial and investment solutions provider based in Bahrain, has announced the launch of an inter-franchise collaboration portal specifically designed to enhance business opportunities for customers of Al Baraka Bank Egypt and Al Baraka Bank Pakistan. The second partnership of its kind, the initiative follows the establishment of a collaboration portal between Al Baraka Bank Pakistan and Al Baraka Bank South Africa in September 2023.
This initiative aligns with the Group’s commitment to fostering collaboration among its Units and highlights its strategic roadmap to unify efforts and enhance capabilities. The partnership is expected to support the commercial endeavours of both Banks by strengthening ties and enhancing communication between Pakistani exporters and connecting them with Egyptian importers. This initiative is poised to stimulate international foreign exchange inflows into the banking systems of Pakistan and Egypt, particularly during the ongoing economic crises faced by both countries.
Commenting on this initiative, Mr. Houssem Ben Haj Amor, Group Chief Executive Officer of Al Baraka Group said, “The launch of this collaboration portal reinforces the unwavering dedication of both Al Baraka Bank Egypt and Al Baraka Bank Pakistan to achieving the Group’s goals. We are committed to providing all possible support that strengthens the Group’s position in the sector. This collaboration builds upon our record of internal partnerships aimed at promoting international trade among stakeholders and solidifying relationships with international customers and stakeholders.
He further added, “Collaboration portals like this empower us to overcome financial challenges and pave the way for new avenues of synergy. Through a multifaceted approach, we aim to enhance communication between exporters and suppliers, fostering favourable conditions that encourage trade exchange between our units which will ultimately contribute to driving global economic development.
ABG plans to implement this successful model further, launching similar collaboration portals throughout the year across its diverse markets. This initiative is slated for implementation in subsidiaries located in Bahrain, Turkey, Algeria, Jordan, and Tunisia, further solidifying the Group’s presence in the global financial and banking sector. The approach underscores ABG’s unflinching focus on nurturing international trade and promoting the global economy by strengthening ties and enhancing trade exchange between its various units.
