26.10.2011 - ABG acquires Al-Tawfeek shares
Albaraka Banking Group BSC (ABG), the Islamic banking group based in Bahrain, has announced the acquisition of 60 percent of the issued shares of Al-Tawfeek Financial Group through its subsidiary in Bahrain, Al-Baraka Islamic Bank. Al-Tawfeek Financial Group Company is a closed joint stock company registered in Saudi Arabia and licensed by the Capital Market Authority. The company engages in asset and portfolio management, custody, debt and equity arranging, as well as research and advisory services. All products and services offered by the company are in compliance with the provisions of Shariah. The company's authorized capital is SR360 million.............................................Full Article: Source
Print