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ABG to change operational structure of parent company

Bahrain Business
Sun, 20 Sep 2020
GDN Online Desk


MANAMA: Al Baraka Banking Group (ABG) is set to initiate the process of converting the current licence of its parent company in Bahrain from a wholesale bank to a category one investment firm, subject to regulatory and shareholders’ approvals. This is in line with its future strategy and business model and to benefit from the regulatory framework of the Central Bank of Bahrain (CBB) for wholesale banks and investment firms, the group said in a statement.