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Equity sale: Bank of Africa buys shares in Al Baraka Banking Group

30/12/2022
Source : ORISHAS FINANCE
Categories: Sectors

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Le groupe de banque Al Baraka Banking Group (ABG) has agreed to sell its 43.65% stake in Bank Al-Tamweel Wa Al-Inma (BTI) to Bank of Africa according to its announcement on December 26, 2022. Bank of Africa is the majority shareholder of the participatory bank launched on December 27, 2017. Thus, the Bahraini is withdrawing from the Moroccan market after five years of activity. For its part, Al Baraka Group stressed in a press release that the transaction, which concerns all of its shares, has received the approval of the Central Bank of Bahrain; however, it remains subject to Moroccan regulatory approvals.

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