JIB, Al Baraka Bank Egypt and Al Baraka Bank Algeria launch a cooperation platform for their clients to enhance business opportunities

Jordan Islamic Bank, in cooperation with Al Baraka Bank Egypt and Al Baraka Bank Algeria, announced the launch of a special electronic cooperation platform to enhance trade opportunities between the Hashemite Kingdom of Jordan and the Arab Republics of Egypt and Algeria. The platform allows Jordan Islamic Bank’s customers to search for mutual trade opportunities with customers of Al Baraka Group units present on the platform, within the framework of the joint cooperation project between all Al Baraka Group units.

 This was during a special event organized by Jordan Islamic Bank in the presence of Mr. Suhail Tohami, Head of Treasury and Financial Institutions at Al Baraka Group/Bahrain, Vice Chairman/CEO of Al Baraka Bank Egypt Mr. Hazem Hegazy, Deputy General Manager of Al Baraka Bank Algeria Mr. Abdel Moneim Othmani, and all units of Al Baraka Group via video conference and in the presence of the Egyptian and Algerian Commercial Attachés in Jordan, industrial and commercial figures, and a number of the bank’s clients at the Intercontinental Hotel on 13/11/2024.

 On this occasion, Dr. Hussein Said, CEO of Jordan Islamic Bank, said that Jordan enjoys a distinguished position and an attractive oasis for investment, due to the facilities and development provided by official, regulatory and supervisory authorities in terms of systems and infrastructure to provide opportunities for various main industrial, economic and commercial sectors to invest and build partnerships, in addition to the interest in providing Islamic financial services and providing laws and legislation that enhance its role in serving and developing the national economy since the establishment of Jordan Islamic Bank in 1978 as the first bank in which Al Baraka Group contributed, as it is the oldest unit of the group.

 Dr. Hussein Said pointed out the bank's continuous efforts to benefit from digital development and strategic partnerships through this electronic platform for our bank's clients and clients of Al Baraka Bank Egypt and Al Baraka Bank Algeria, as it will contribute to consolidating the foundations of joint cooperation between Al Baraka Group units and unifying commercial relations between them and in all countries in which they are present, benefiting from trade exchange agreements, improving efficiency and increasing competitiveness in the field of trade finance services provided to the group's clients in the countries in which they are present.

Dr. Hussein Said explained that the electronic platform provides real added value to the clients of Jordan Islamic Bank by facilitating their search for mutual business opportunities with clients of Al Baraka Bank Egypt, Al Baraka Bank Algeria and the rest of the Al Baraka Group units present on the platform, which aims to facilitate the process of linking suppliers and importers, securing and providing (supply chains), saving time and achieving speed in completing commercial and financial transactions such as transfers, credits, policies and issuing guarantees, reducing the costs of completing transactions, and easily tracking financial and commercial operations implemented through Al Baraka Group units.

 Two dialogue sessions were also held, moderated by media professional Faeq Hijazin, for the bank’s clients and the commercial attaché at the Egyptian embassy, ​​to introduce the platform, how to subscribe to it, the benefits that will be gained from it, discuss economic matters of interest to clients, and focus on the importance of linking the parties to the commercial process through the units of Al Baraka Group.