MANAMA: Al Baraka Bank Tunisia has launched its new unified corporate identity.
In accordance with new identity, the name of the bank has been changed from Bank Et-tamweel Al-Tunisi Al-Saudi to Al Baraka Bank Tunisia.
This is in line with the strategy being implemented by the Bahrain-based Al Baraka Banking Group (ABG) to have a unified new corporate identity for the group and its subsidiary banks,
The launch ceremony was attended by representatives of the parent company and the Ministry of Finance, Central Bank of Tunisia, board members, the bank's executive management and employees.
Al Baraka Banking Group chairman Shaikh Saleh Abdullah Kamel said that he was delighted with Al Baraka Bank Tunisia joining the new corporate identity of the ABG Group, a step that would go much further than just a change in the name or logo to include the added value provided by the bank to its owners, shareholders, investors and the economic and social activities that the bank serves.
The launch of the new corporate identity of Al Baraka Bank Tunisia was a fitting and timely step as it comes at a time when the bank was going through a comprehensive development exercise that included products and services, jobs and functions and human and financial resources, Al Baraka Bank Tunisia chairman Abdul Elah Subahi said.
"These development changes will further be strengthened by the launch of the new corporate identity which highlights the fact that the bank is part of a larger group, and as such emphasises the strong position of the bank and its ability to expand in the domestic market," he added.
"We are glad to see Al Baraka Banking Group, despite the global financial and economic crisis, continue the implementation of its strategic plans since the beginning of the year," Al Baraka Bank Tunisia board member and Al Baraka Banking Group president and chief executive Adnan Ahmed Yousif said.
"During the second quarter of this year, we launched the new corporate identity of ABG at highly publicised unveiling ceremonies held at head office and the subsidiary units of the group.
"The new corporate identity requires us to adopt a set of policies and high ethical and professional standards with regard to the offering of innovative and efficient Sharia-compliant services and products.
"To achieve this, we put in place a number of programmes and plans which are currently being implemented to embody the theme of the new corporate identity of the group in being a partner bank to our customers, investors and all stakeholders," he added.
"The bank witnessed during the past few years a major development in its performance, operations and organisational, operational and IT structure, which helped to consolidate and enhance our presence in the local market," Al Baraka Bank Tunisia vice-chairman and general manager Laroussi Bayoudh said.
"The launch of the new corporate identity will no doubt add new strength to us as we will be seen as part of a large group, Al Baraka Banking Group, which has subsidiary banking units in 12 countries that operate through more than 300 branches," he added.