Albaraka Turk Participation Bank a subsidiary banking unit of Al Baraka Banking Group B.S.C.(ABG), Turkey’s oldest interest-free bank, conducted a global fixed income investor update from the 10th – 14th of September.
The bank’s General Manager Mr. Melikşah Utku, and Assistant General Manager for Treasury, Financial Institutions, and Investment Banking, Mr. Malek K. Temsah, met with fixed income investors in Singapore, Dubai, and London. Commenting on the roadshow, Mr. Melikşah Utku stated: “Our update meetings with investors have become an annual occurrence that we attach particular significance to as it enables us to re-inforce our commitment to sustainable engagement and promoting transparent dialogue between our investor community and the bank.
Given the recent events that have unfolded and the continued interest of investors to acquire a better bottom-up understanding of these developments and their implications, we believe the timing of our non-deal road show was even more relevant and critical.”
The bank’s executives discussed a host of issues with investors ranging from Albaraka Turk’s recently announced financials to the macroeconomic environment, recent monetary policy developments, and the overall outlook moving forward.
Albaraka Turk appointed Emirates NBD Capital as the sole coordinator for the investor update.
Al Baraka Banking Group B.S.C. (“ABG”) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain and is listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is rated A+ (bh) (long term) / A2 (bh) (short term) on the national scale by Islamic International Rating Agency and by Standard & Poor’s at BB (long term) / B (short term).
Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari’a. The authorized capital of ABG is US$ 2.5 billion.
The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in 16 countries, which in turn provide their services through over 700 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Saudi Arabia and Morocco, in addition to one branch in Iraq and two representative offices in Indonesia and Libya.
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