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 good year for all our subsidiaries with an increase in profits. In 2014 we expect our profits to also increase in double digit. At least 15 percent rise."

Yousif said he was optimistic that operations in the potentially lucrative Libyan market, where the bank opened a representative office in 2011, would get going this year.

(Source: ArabianBusiness)

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