AL BARAKA BANK LIMITED

Company Type:

AL BARAKA BANK LIMITED is a financial institution, specifically a bank. It is neither a factory nor a trader.

Company Introduction:

Al Baraka Bank Limited is a prominent Islamic bank operating in Pakistan. It is a subsidiary of the Bahrain-based Al Baraka Banking Group (ABG), a leading international Islamic banking group with a wide presence across the Middle East, Africa, and Asia.

In Pakistan, Al Baraka Bank Limited was established through a strategic merger completed in 2016. This merger combined the operations of Al Baraka Islamic Bank B.S.C. (EC) Pakistan Operations, Emirates Global Islamic Bank (Pakistan), and the local operations of Al Baraka Bank (Pakistan) Limited. This consolidation significantly strengthened its position in the Pakistani financial sector.

The bank offers a comprehensive suite of Shariah-compliant banking products and services, catering to a diverse clientele including retail customers, small and medium enterprises (SMEs), and corporate entities. Its services encompass current and savings accounts, various financing facilities (based on Islamic modes such as Murabaha, Ijarah, Musharakah), trade finance, and treasury services. All operations strictly adhere to Islamic principles and ethical banking practices, providing innovative and interest-free financial solutions to support economic growth and development in line with Islamic finance values.

AL BARAKA BANK LIMITED Pakistan offers a comprehensive range of Shariah-compliant banking products and services. These include various deposit products such as Mudarabah Savings Accounts, Mudarabah Term Deposits, Current Accounts, Al Baraka Junior Accounts, Al Baraka Women's Accounts, and Al Baraka Business Plus Accounts. The bank provides diverse financing solutions including Auto Finance based on Ijarah, Home Finance through Diminishing Musharakah, Personal Finance utilizing Murabaha, Laptop Finance, Bike Finance, SME Finance, Corporate Finance, and Trade Finance. Furthermore, their services encompass ATM and Debit Cards, Mobile Banking, Internet Banking, Branchless Banking, Remittances, Locker Facilities, and Utility Bill Payments.