Al Baraka Banking Group EGM approves license conversion of Bahrain-based parent company
Published 02 Dec,2020 via bizbahrain - Al Baraka Banking Group B.S.C. (ABG) successfully concluded an Extraordinary General Meeting of its shareholders, which approved the recommendation of its Board of Directors to formally initiate the process of converting the Group’s current Islamic Wholesale Bank license in the Kingdom of Bahrain to a Category 1 Islamic Investment Firm license, subject to receiving the necessary approvals from the Central Bank of Bahrain (CBB), under whose regulatory supervision the Group would continue to operate.
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