Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain (CBB), met a high level delegation from AlBaraka Banking Group (ABG) led by Mr. Adnan Yousif, President and Chief Executive of ABG.

Mr. Al Maraj briefed the delegation about the latest economic and financial sector developments in Bahrain and pointed to the increased interest in Islamic Finance due to the current global financial situation.

He also highlighted that Islamic finance represents a very important part in Bahrain’s financial sector and praised ABG for their efforts in promoting Islamic Finance in reaching new markets.

“On the long run, this experience will enhance risk management capabilities in banks and more emphasis will be placed on corporate governance,” said Mr. Al Maraj.

On the other hand, Mr. Yousif briefed the Governor on their latest financial results, and their plans for ABG going forward.

Also present at the meeting was Mr. Hussain Sharaf, Director of the Islamic Financial Inst. at the Central Bank of Bahrain.