AlBaraka.Header.Logo.Title عربي

Al Baraka Islamic Bank Signs a Joint Cooperation Agreement with Mazad Bahrain

Al Baraka Islamic Bank Signs a Joint Cooperation Agreement with Mazad Bahrain

Al Baraka Islamic Bank, one of Bahrain's leading Islamic financial institutions, recently signed an auction services agreement with Mazad, the Kingdom's leading auction services provider, to collaborate on regulating and managing the sale of assets preserved or pledged by the bank.
The signing ceremony took place at Al Baraka Islamic Bank's headquarters, in the presence of Mr. Hamad A. Al Oqab - Chief Executive Officer of Al Baraka Islamic Bank, Ms. Raeda Murad - Head of Special Assets Department at Al Baraka Islamic Bank, and Mr. Talal Al Araifi - Chief Executive Officer of Mazad Bahrain along with a number of senior officials.
Commenting on this occasion, Mr. Hamad A. Al Oqab - Chief Executive Officer of Al Baraka Islamic Bank stated: "we are pleased to announce our new partnership with Mazad Bahrain, which reflects the bank's ongoing efforts to provide absolute transparency in all of our banking practices and operations related to listing the Bank’s assets in Mazad auction. We are confident that by transferring ownership of these assets to new investors upon resale, new development opportunities will emerge, contributing to the Kingdom's economic growth".
Mr. Talal Al Araifi - Chief Executive Officer of Mazad Bahrain, also commented on this partnership by saying: “we are very pleased with our partnership with Al Baraka Islamic Bank, the first of its kind with one of the leading banking sector institutions in the Kingdom. As Mazad seeks to apply its expertise in electronic auction management which offer the highest levels of transparency and fairness".
He added: “We are continuously working to diversify our asset sale portfolio based on our corporate values of transparency and sustainability. We also always seek through cooperation with various institutions in Bahrain by contributing to sustainability and growth of our national economy".
Mazad Bahrain is one of the companies founded in 2017 under the umbrella of Bahrain Mumtalakat Holding Company with the goal of organizing public and electronic auctions, to become the leading destination in the Kingdom in the field of providing auction services in collaboration with prestigious international auction companies.
For any further information, kindly visit our website at www.albaraka.bh or call us at 13300400.

Top products

Savings Account

With our Saving Account, you can experience an equal and beneficial partnership. When you deposit your savings with Al Baraka, we invest your mon...

Current Account

You can benefit from our Current Account as an individual, a company, a club, a social organization, or any other similar entity. With this on-demand ...

Yusr Personal Finance

'Yusr' Finance, aims to provide financing solutions for all of our customers' personal needs in accordance with the principles of Islamic ...

Current Account

Benefit from our Current Account as an individual, a company, a club, a social organization, or any other similar entity. With this on-demand account ...

This website uses cookies to improve your experience on the website as they enable you to enjoy certain features on the website such as messages tailored to your needs. They also help us understand how the site is being used so that we can continuously improve it. You may disable these by changing your browser settings, but this may affect how the website functions. By clicking on Agree, you accept the use of cookies. Please read our Privacy Policy for more information.