Tag Archives | Bahrain

Libyan Foreign Bank (LFB) signs MoU with Bahrain Bank

Bahrain-based Al Baraka Banking Group (ABG) has signed a Memorandum of Understanding (MoU) with the Libyan Foreign Bank (LFB) to collaborate in all areas of banking. The MoU was signed by Mr. Adnan Ahmed Yousif (pictured), President & Chief Executive of ABG and Chairman of Al Baraka Turk Participation Bank on behalf of Al Baraka […]

United Bank Boss Confirmed kidnapped

Libya Herald reports that it has received confirmation that the Deputy General Manager of United Bank for Commerce & Investment, Abdelkareem Mosaad [Msaad] (pictured), was kidnapped two weeks ago. Mosaad was kidnapped near his home in Al-Khalaa in the Wirshefana area south west of Tripoli; the kidnappers are said to be demanding a ransom of […]

Al Baraka Bank Eyes Libya

Adnan Ahmed Yousif (pictured), President and Chief Executive Officer of Bahrain’s Al Baraka Banking Group, has told Reuters that the company's growth will also be fuelled by the company's entry into the Moroccan and Libyan markets, and expansion in Tunisia, as monetary authorities become more welcoming to Islamic banking. He added: "Last year was a very […]

Libyan to Head Arab Banking Corporation

The Arab Banking Corporation (ABC), Bahrain’s largest bank and the leading regional bank in the Middle East, announced today the appointment of Dr. Khaled Kawan (pictured), a Libyan, as President and Chief Executive of the ABC Group. The bank is 59 percent owned by the Libyan Central Bank. Dr. Kawan comes from serving as Acting […]

Al Baraka to set up Islamic Bank in Libya

Adnan Ahmed Yousif (pictured), President and Chief Executive Officer of Bahrain’s Al Baraka Banking Group, said that the group is studying to establish an integrated Islamic bank in Libya this year. According to a report from Mubasher, the new facility will have seed capital of $100 million, and will offer a variety of banking services. (Source: […]

Gulf Bankers Target Libya

Bankers from the Arabian Gulf are checking out projects in Libya, from health care to infrastructure, according to a report from The National. Tarek Al Husseini, who secured a licence to expand the Tripoli operations of the Bahrain-based Mubasher to include asset management, advisory for initial public offerings and private equity, told the newspaper: "We're […]

Central Bank Denies Licensing Foreign Banks

The Central Bank of Libya has denied that it had issued licences to foreign banks to operate independently in Libya, saying that any licences issued to foreign banks  had to be in partnership with a Libyan bank. According to a report from Libya Herald, the CBL also denied rumours that it plans to sell the […]

Al Baraka Bank Renews Commitment to Libya

Bahrain's Al Baraka Banking Group, which on Sunday announced a 10 percent jump in net profits for the first nine months of the year, has renewed its commitment to the Libyan market. With regard to geographic expansion and entering new markets, the company's President and CEO Mr. Adnan Ahmed Yousif (pictured) said that the it […]