Al Baraka to change the operational structure of its parent company in Bahrain
Manama I September 19, 2020 In line with its future strategy and business modeland to benefit from the regulatory framework of the Central Bank of Bahrain (CBB) for wholesale banks and investment firms, the Board of Directors of Al Baraka Banking Group B.S.C. (ABG / the “Group”) resolved to initiate the process of converting the current license of its parent company in Bahrain from a wholesale bank to a category 1 investment firm, subject to regulatory and shareholders’ approvals. Upon receiving the new license, the Group shall continue to be supervised by the Central Bank of Bahrain.
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