Al Baraka Bank Egypt has announced the launch of a joint cooperation program in the field of foreign trade with Al Baraka Bank South Africa. The initiative aims to enhance economic and financial collaboration between the two branches through Al Baraka’s digital trade platform, as part of the broader Al Baraka Banking Group’s strategy to create a supportive environment for investment and trade exchange across regional markets.
This initiative comes as part of the bank’s ongoing efforts to offer real opportunities for exporters and importers, while enhancing trade finance mechanisms to better serve clients and support stronger economic ties among African nations. The webinar witnessed the participation of His Excellency Ahmed Ali Sherif, Egyptian Ambassador to South Africa, in addition to senior representatives from both Al Baraka Bank Egypt and Al Baraka Bank South Africa, including Mr. Mostafa Alaroussi, Deputy CEO of Corporate and Investment Banking from Al Baraka Bank Egypt; Mr. Amr Kandil, General Manager of International Banking from Al Baraka Bank Egypt; and Mr. Shabbir Chohan, CEO of Al Baraka Bank South Africa. The event also welcomed delegates from both sides, as well as prominent attendees, including ministers plenipotentiary, commercial attachés, and professionals from the economic and financial sectors.
In his remarks, Mr. Mostafa Alaroussi, Deputy CEO of Corporate and Investment Banking at Al Baraka Bank Egypt, stated: “This collaboration comes at a time when African markets are witnessing accelerating growth, highlighting the importance of building strong banking partnerships that support Al Baraka Bank clients and enable them to seize opportunities across our network on the continent. Our partnership with Al Baraka Bank South Africa reflects our commitment to expanding our clients’ horizons and opening new avenues for investment and trade within Africa’s promising markets.”
He further added: “We are working to empower our clients to take full advantage of the digital trade opportunities provided by our shared platform, which accelerates transactions and offers greater flexibility in financial operations. We also believe that productive collaboration between Egypt and South Africa in this regard will enhance economic integration and contribute to the achievement of sustainable development goals across the region.”
The webinar concluded by affirming that this event marks a continuation of Al Baraka’s successful collaboration journey among its regional units. It follows previous fruitful initiatives with branches in Turkey, Pakistan, Jordan, and Algeria. This latest step reflects the bank’s ongoing commitment to expanding regional cooperation and advancing its digital platforms, thereby promoting trade integration and supporting shared economic growth. It also reaffirms Al Baraka’s ambitious strategy to connect diverse markets and deliver added value to its clients and the communities it serves.