AL BARAKA BANK PAKISTAN LIMI

AL BARAKA BANK PAKISTAN LIMITED Company Introduction

Company Type: Financial Institution (Bank)

AL BARAKA BANK PAKISTAN LIMITED is a prominent Islamic financial institution operating in Pakistan. It is a subsidiary of Al Baraka Banking Group B.S.C., a leading international Islamic banking group based in Bahrain, with a wide presence across the Middle East, Asia, and Africa.

Established in Pakistan, Al Baraka Bank Pakistan Limited offers a comprehensive range of Shariah-compliant banking products and services to its diverse customer base, including individuals, small and medium-sized enterprises (SMEs), and corporate clients. These services encompass current and savings accounts, financing facilities (such as Murabaha, Ijarah, and Musharakah), trade finance, treasury services, and digital banking solutions.

The bank is committed to upholding the principles of Islamic finance, focusing on ethical and socially responsible banking practices. It aims to contribute to the economic development of Pakistan by providing innovative and accessible financial solutions that adhere strictly to Islamic Shariah. Al Baraka Bank Pakistan Limited operates through a network of branches across the country, striving to deliver excellent customer service and foster long-term relationships with its clientele.

Al Baraka Bank Pakistan Limited offers a wide range of Shariah-compliant financial products and services. These include current accounts, savings accounts, basic banking accounts, Asaan accounts, youth accounts, senior citizen accounts, women accounts, and Asaan digital accounts for retail customers. For financing, they provide auto finance through Ijarah, home finance through Diminishing Musharakah, and personal finance through Murabaha. They also offer debit cards, mobile banking, internet banking, SMS banking, and remittance services. For corporate and investment banking clients, services include corporate finance, trade finance such as import and export letters of credit and guarantees, cash management, and treasury and financial institutions services. Small and medium enterprises (SMEs) can access working capital finance through Murabaha and Musharakah, and term finance through Ijarah and Diminishing Musharakah. Additionally, the bank provides agriculture finance using Murabaha, Ijarah, and Salam structures. They also facilitate Bancatakaful services, which are Islamic insurance products, and offer priority banking services for high-net-worth individuals.