Bahraini Islamic lender considers expansion in Indonesia
(MENAFN) Bahrain's Al Baraka Group was confirmed to be looking for an expansion project to be launched in Indonesia, where investors are generally attracted to Shariah-compliant banking products.
Speaking to Amwal Al Ghad, the Islamic lender's chief executive Adnan Yousif revealed a purchase plan to be under consideration for an Indonesian institution.
The group aims in the acquisition plan to create its representation in Indonesia, along with expanding within its markets.
The chief executive added "the group has also plans to establish presence in Kenya, Tanzania, and Uganda ... since these countries have strong connections with the Gulf."
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