Al Baraka Partners with Dhaman to Elevate Bahrain’s Trade Finance Scene

Malaz Madani

Last updated 2-09-2025

4 min

Al Baraka Islamic Bank partners with Dhaman to bolster trade finance and international ties.

The partnership enhances Al Baraka's access to risk management and Dhaman’s A+ credit rating.

Dr Adel Salem sees it as a step towards sustainable economic growth for Bahrain.

Dhaman's experience insures global investments and exports, providing a competitive edge for clients.

The collaboration aims to make regional trade less risky and more efficient.

Al Baraka Islamic Bank in Bahrain has just sealed a strategic partnership with Dhaman, the Arab Investment and Export Credit Guarantee Corporation. This move isn’t just about signing a bit of paper and shaking hands in a boardroom – it represents a calculated push to beef up the bank’s trade finance offerings and expand its web of international partnerships. Now, if you’ve tried to untangle the ins and outs of cross-border financing before, you’ll know it’s often a bit of a faff. So, seeing firms taking serious steps to smooth the path for importers and exporters in the region is, in my book, spot on.

At its core, the partnership gives Al Baraka access to Dhaman’s prowess in risk management and its much-vaunted A+ credit rating, as awarded by Standard & Poor’s. In plain terms, this means corporate clients can rest a bit easier when trading across borders – there’s insurance backing those transactions and a level of flexibility that wasn’t always there before. I reckon this extra confidence could make quite the difference for Bahraini businesses sniffing for growth both in the region and on the global stage.

The agreement was inked in the bank’s fancy headquarters in Bahrain Bay on 31 August, bringing together top brass from both camps. Dr Adel Abdullah Salem, sitting as Al Baraka’s CEO, didn’t mince words about the deal’s significance, describing it as a gateway to “wider horizons” and a chance to offer truly advanced solutions for clients aiming to expand regionally and internationally. The way Dr Salem sees it, this move not only bolsters the bank’s trade finance muscle but also sends a signal that the institution is dead set on driving sustainable economic growth for Bahrain and beyond.

Mr Rashed Ahmed Al Haroun, who heads up Dhaman, voiced pride in partnering with “a leading bank in Bahrain’s Islamic banking sector,” and framed Dhaman’s mission as supporting major financial institutions in the region while fuelling expansion in trade activities. He made it clear that Dhaman sees itself as more than a service provider – with decades of experience safeguarding investments and exports, it acts almost like a bridge between Arab banks and the wider world. Not everyone realises Dhaman was actually set up back in the ‘70s and, so far, has provided insurance for a whopping $29 billion worth of exports and investments, covering more than 100 countries globally.

On the flip side, Husain Yousif Atiya from Al Baraka pointed out that Dhaman’s partnership and sterling credit history should give their corporate clients a real competitive edge. It’s about arming companies with the tools to take bolder steps, both within local markets and far beyond. And believe it or not, such collaborations can be a game-changer in an ecosystem where trust, reliability, and risk control still make or break cross-border trade.

Whenever I’m chatting with startup founders or walking through the buzzing co-working spaces Arageek loves to spotlight, I hear the same refrain: regional partnerships – especially those capable of making trade less risky and more efficient – are worth their weight in gold. On a personal note, watching banks like Al Baraka stepping up to the plate with regionally-rooted players such as Dhaman makes you think the future’s looking a tad brighter for those building the next wave of MENA businesses. Sure, there’s miles to go, but collaborations like this are at least a step in the right direction, even if the paperwork is, well… still a pain sometimes.

All told, Al Baraka isn’t just resting on its laurels as one of Bahrain’s top Islamic banks. Since 1984 they’ve been known for their innovative streak, always looking for ways to serve a global, Sharia-compliant client base. With Dhaman in their corner, they might just have a fresh trick up their sleeve when it comes to boosting business resilience for exporters and importers across the region. Chuffed to bits isn’t a phrase you hear every day in banking, but there’s definately a sense of optimism breathing through this agreement.

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