Ask the Bank: Al Baraka Bank opens the doors of knowledge about Islamic banking transactions

Al Baraka Bank Egypt has launched a series of educational videos titled “Ask the Bank-Sharia Edition” on its social media platforms, aimed at educating different segments of the public about the principles of banking transactions compliant with Islamic Sharia principles. This initiative is part of the bank’s commitment to its position as a leader in raising awareness about Islamic reference for those seeking knowledge in Islamic finance. Al Baraka Bank

Al Baraka Bank

reference for those seeking knowledge in Islamic finance

The episodes of ” Ask the Bank-Sharia Edition” presented in a simplified conversational format, cover a variety of topics, including Islamic banking transaction structures and their compliance with Islamic Sharia principles, the role of the Sharia Supervisory Board in Islamic banks, as well as issues related to credit cards and banking insurance per Sharia. The episodes also address common questions answered by Dr. Hassanein Ibrahim, Head of Sharia and Sharia Audit Sector at Al Baraka Bank Egypt and a member of the Sharia Supervisory Board, such as the income purification ratios in Islamic banks, the advantages of this type of banking, and all matters related to financing, among others.

Al Baraka Bank Awards

Simultaneously with the launch of these educational videos, Al Baraka Bank Egypt won the award for “Best Sharia Investment Banking Services Egypt 2024” from the Global Business & Finance Magazine. This reflects the bank’s ongoing efforts to provide innovative banking solutions that are compliant with Islamic Sharia principles, confirming its leadership in the Islamic banking sector.

launch of the educational video series reflects

In this matter, Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated: “The launch of the educational video series reflects our vision at Al Baraka Bank Egypt to support comprehensive financial literacy and provide added value to the community. As the first Islamic bank to take the lead in this field, we believe that enhancing knowledge about Islamic banking is a necessary step to facilitate financial decision-making. This commitment extends beyond merely offering Sharia-compliant financial products; it encompasses our role as a leading and reliable reference for providing knowledge and clarifying the principles underlying these products.”

Best Sharia Investment Banking Services Egypt 2024

Regarding the award for ” Best Sharia Investment Banking Services Egypt 2024,” Mr. Abdel Aziz Samir, Deputy CEO for Consumer Banking, Retail, and Digital Transformation commented: “We are pleased with this recognition, which enhances our bank’s position and confirms our commitment to the highest standards of quality and our ability to meet all customer needs through innovative investment products. We look forward to continuing to provide banking solutions that add real value to all customers and partners of Al Baraka Bank Egypt while striving to strengthen our leading role in the Islamic banking sector.”

It is worth noting the positive impact of these efforts, which has become evident through the enthusiastic audience engagement with the educational video series launched by Al Baraka Bank Egypt on its main page and social media platforms. Viewers have praised the purposeful content that fills the knowledge gap and the easy-to-understand approach to explaining Islamic banking transaction concepts. Additionally, many followers have commented with inquiries about further details on the topics presented, reflecting their interest and desire to learn more.

Al Baraka Bank Egypt

Al Baraka Bank is a subsidiary of Al Baraka Group, a leading Bahrain-based Islamic banking conglomerate. With a robust global presence spanning 14 countries across 3 continents, the group offers comprehensive financial services through its network of over 600 branches.
Al Baraka Bank has been operating in Egypt for over 40 years, establishing a strong position with 36 branches strategically located in Cairo, Alexandria, the Delta region, and Upper Egypt. The bank is committed to expanding its reach, aiming to increase its branch network to cover most Egyptian governorates by the end of 2025.

Al Baraka Bank adheres to the principles of Islamic Sharia

Al Baraka Bank adheres to Sharia principles in delivering a wide range of banking products and services tailored to individuals, businesses, treasury, and investment needs. All bank operations and transactions are meticulously reviewed by an independent Sharia Supervisory Board.
The bank provides direct financing solutions to creditworthy individuals, corporations, and institutions, while also actively participating in syndicated financing for large-scale projects with significant economic viability and employment creation potential.

Al Baraka bank has won several international awards, including “Best Local Currency Finance” and “Best Restructuring in Africa award” from EMEA Finance Magazine. Moreover, the bank has won “The Fastest Growing Digital Transformation Bank in Egypt” and “The Fastest Growing Bank” awards from International Finance awards in 2024. In addition to many other international awards won through the years 2022 and 2023. As well as being listed in Forbes’ list of Egypt’s top companies in 2022, 2023 & 2024 consecutively.

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