Al Baraka holds its 2nd annual forum for Shari’a departments of its units worldwide

Published 29 Dec,2020 via bizbahrain - Al Baraka Banking Group (ABG), the leading global multinational, headquartered in the Kingdom of Bahrain, held its Second Annual Forum for the Shari’a departments of the Group’s units around the world, on Wednesday, December 23, 2020, virtually.

The opening session of the forum was chaired by Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group, and was attended by each of the executive departments of the Group and the CEO of Al Baraka Islamic Bank Bahrain, Mr. Hamad Al-Oqab, in addition to the heads of the internal Shari’a audit departments.

The meeting discussed a number of issues that touch the Shari’a aspect of implementing financing operations, ways to ensure the highest levels of Shari’a compliance, and the role of information technology in strengthening Shari’a control. In addition, the meeting discussed the most prominent challenges facing the Group’s units, and those they faced at the beginning of the Corona pandemic, and the extent of the Shari’a supervisory bodies’ response to address these Shari’a risks.