"We are very pleased with the excellent results that the bank achieved in 2010," said Al Baraka Banking Group president and chief executive Adnan Ahmed Yousif. (full story)
"Turkey is considered as one of the key markets for the group because of the diversity and abundance of economic activities and huge promising opportunities that it offers.
"With the continuing and steady growth of Al Baraka Turk Participation Bank over the past decade, the bank has now passed the threshold of a small bank and can be said to qualify as a major player in the Turkish market.
"Reaching such maturity has prompted the bank to review both its vision and its mission, with a view to redefining its ambitions and future growth aspirations," he said.
"In focusing on growth, Al Baraka Turk Participation Bank intends to concentrate more on Musharaka projects and retail credit, initially targeting a 30pc increase in the latter category," said Al Baraka Turk Participation bank general manager Fahrettin Yahsi. "The bank will also shortly be launching a new credit card, called 'Albaraka World Card', in addition to bringing in new services such as money transfer, bill payment and gold trading by Internet, participation accounts for children and minors and a Gold Participation account.
"New products already initiated include a Gold Deposit account, a Flexible Term Participation account and a variety of special funds to assist its customers in planning for retirement and saving towards their pension, in addition to facilities to enable payment of their utility bills and social security payments at any branch of the bank," he added.
Source : http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=302803 - March 30, 2011
