The Bahrain-based Islamic banking company, Al Baraka Group (ABG) has announced that it is to open a branch in Libya.
The announcement . . .[restrict]was made at its board of directors meeting on Thursday, held in Tunis at which it also announced that the gourp had made profits in 2011 of $212 million, a 10-percent rise on 2010.
Led by Sheikh Salah Abdallah Kamel of Saudi Arabia, the bank is active in 12 countries, including Tunisia, Algeria and Egypt. It said that it was opening the branch in Libya “given the importance of the market”.
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