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Islamic Finance Briefing - Categorized | Banking, Performance more

Assets of Al Baraka Bank Syria grow 103 pct

Posted on 26 April 2011

Al Baraka Bank Syria, a subsidiary banking unit of Al Baraka Banking Group (ABG), started its operations on 1 June 2010 through its main branch at Seven Bahrat district of Damascus.
The bank’s total assets amounted to $108 million as at the end of December 2010, a growth of 103 per cent compared to the total assets started with at the beginning of operation. The total deposits, including unrestricted investment accounts, reached $58 million, while the finance and investment portfolio amounted to $55 million through the establishment of a high quality portfolio of Islamic financial products, and investments through Wakala agencies and Mudaraba reached $32 million……………………………………….Full Article: Source

 
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