Al Baraka Islamic Bank Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced the signing of a significant strategic partnership agreement with the Arab Investment and Export Credit Guarantee Corporation (Dhaman). The agreement will enable the Bank to expand its international banking partnerships and provide innovative trade finance solutions tailored to meet the needs of its clients in regional and global markets.
This agreement comes as part of Al Baraka Islamic Bank’s strategy to strengthen its trade finance capabilities and broaden its international banking services. It will allow the Bank to offer more flexible and efficient financing solutions to its corporate clients, importers, and exporters by providing strong insurance coverage for cross-border transactions. This will contribute to increasing the volume of banking operations with an extensive network of banks across the region and worldwide.
The agreement also allows the Bank to benefit from Dhaman’s outstanding credit rating (A+ by Standard & Poor’s), thereby reducing risks associated with international trade transactions. The signing ceremony took place on Sunday, August 31, 2025, at the Bank’s headquarters in Bahrain Bay, with the agreement signed by Dr Adel Abdullah Salem, Chief Executive Officer of Al Baraka Islamic Bank, and Mr Rashed Ahmed Al Haroun, Director General of Dhaman. The signing was attended by Mr Husain Yousif Atiya, Chief Corporate and Institutional Banking Officer at Al Baraka Islamic Bank, along with a number of senior executives and department heads from the Bank.
A Key Partnership for Business Growth
Commenting on the occasion, Mr Rashed Ahmed Al Haroun, Director General of Dhaman, said: “We are proud of our partnership with Al Baraka Islamic Bank, which holds a leading position in Bahrain’s Islamic banking sector. This agreement comes as part of our continuous efforts to support major financial institutions in the region and to encourage their expansion in trade activities.”
He added: “Dhaman serves a select group of the largest Arab and international banks by providing effective risk management solutions, while also playing a key role in broadening trade and financing between banks and countries. We are confident that this important partnership will enable Al Baraka Islamic Bank to grow its trade operations, support its clients in safely and efficiently accessing new markets, and open new horizons for growth and success.”
Supporting Sustainable Growth in Bahrain and the Region
For his part, Dr Adel Abdullah Salem, Chief Executive Officer of Al Baraka Islamic Bank, stated: “We are proud to sign this agreement with Dhaman, given the added value it brings in enhancing our ability to deliver advanced trade finance solutions. It also opens wider horizons for expansion in regional and international markets, enabling us to benefit from Dhaman’s expertise and extensive banking network across the region and the world.”
He continued: “Our cooperation with Dhaman reflects Al Baraka Islamic Bank’s commitment to supporting sustainable economic growth in Bahrain and the wider region, by empowering our clients to compete effectively in global markets. This agreement will help us diversify financing options, mitigate risks, strengthen client confidence, and support the prosperity of their businesses.”
Enhancing the Bank’s Competitiveness
In the same context, Mr Husain Yousif Atiya, Chief Corporate and Institutional Banking Officer at Al Baraka Islamic Bank, highlighted the importance of the agreement, saying: “Our partnership with Dhaman, with its strong credit rating and extensive expertise, will enhance our ability to offer more competitive and innovative trade finance solutions. This will empower our corporate clients to expand both locally and internationally with confidence and sustainability, while helping them achieve their business objectives.”
He added: “We see this partnership as a strategic opportunity to reinforce Al Baraka Islamic Bank’s position in the Islamic trade finance sector. By collaborating with Dhaman, we will benefit from its wide network and expertise in risk management, which will accelerate the pace of trade transactions and give our clients a real competitive edge in global markets.”
