MANAMA, 27 June 2007 — Bahrain-based Albaraka Banking Group B.S.C. (ABG) will be deploying Misys Equation Islamic core banking system under an agreement reached yesterday between the two companies.
ABG Chairman of the Board of Directors Saleh Abdulla Kamel said “we are very proud to see ABG advance steadily in achieving its development objectives that serve the communities in which it operates. We, with the grace of Allah, were successful in investing the proceeds of the initial public offering (IPO) that we launched last year in expanding the business of all of our subsidiaries, and we are starting to reap the benefits of these prudent policies. We are confident that the coming period will show more clearly the results of the huge investments we made in our different units and operations including the implementation of the advanced technologies.”
