Al Baraka Islamic Bank (AIB) has the honour of being the pioneer of Islamic banking in Pakistan and has been operating in the country as branches of Al Baraka Islamic Bank Bahrain since 1991. Over the years, the bank has successfully developed and maintained its identity as one of the leading providers of a host of banking products and services in strict compliance with Shari'a principles.
Currently operating with 29 branches in 17 major cities of the country, AIB offers a wide array of Islamic financing products such as Murabaha, Ijarah, Musharakah and Islamic Export Refinance, etc., catering to a diverse cross-section of the economy, including the Corporate, SME and Consumer sectors. Moreover, various Shari'a compliant deposit schemes are available for customers to invest their funds in, along with a variety of other ancillary services such as online banking, ATM/debit card, safe deposit lockers and utility bill payments etc.
Al Baraka Islamic Bank (AIB) is a member of Al Baraka Banking Group (ABG) which is a Bahraini Joint Stock Company listed on Bahrain and Dubai stock exchanges and one of the well-known leading international Islamic banks. Al Baraka Banking Group is committed to expanding its presence in Pakistan, which is evident from the rapid growth being undertaken by Al Baraka Islamic Bank in the country and its plans to have its Pakistan operations localized as a Bank registered in Pakistan, over the next few weeks. Building on the expertise and experience of its workforce and the growing awareness of Shari'a-compliant banking solutions among the masses, AIB has successfully developed itself as a major unit of Al Baraka Banking Group operating in the region, capitalizing on the Group's geographical presence and high quality research and development in Islamic financial products for its business expansion in the country. Faced with growing challenges in this rapidly developing market, AIB strongly relies on its ability to be an effective and efficient market player through renewed focus on superior customer service, development of Islamic alternatives to conventional financing facilities, and strict adherence to Shari'ah rulings and principles.
Al Baraka Banking Group is the biggest Islamic banking group listed on the Bahrain Stock Exchange in terms of capitalization. It has been rated by Standard & Poor's as BBB- with a short-term rating of A-3. Al Baraka Banking Group offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Shari'ah. The authorized capital of Al Baraka Banking Group is US$1.5 billion, while the total equity amounts to about US$ 1.59 billion. With assets of US$11.2 billion, the Group has a wide geographical presence in the form of subsidiary banking Units in 12 countries, which in turn provide their services through more than 250 branches. These banking Units are Jordan Islamic Bank/ Jordan, Al Baraka Islamic Bank/ Bahrain, Al Baraka Islamic Bank/ Pakistan, Banque Al Baraka D'Algerie/ Algeria, Al Baraka Bank Sudan/Sudan, Al Baraka Bank Ltd/ South Africa, Al Baraka Bank Lebanon/Lebanon ,Bank Et-Tamweel Al- Tunisi Al Saudi/ Tunisia, The Egyptian Saudi Finance Bank/Egypt, Al Baraka Turk Participation Bank/Turkey, Al Baraka Bank Syria (under establishment), and representative office, Indonesia.
Mr. Shafqaat Ahmed
Regional General Manager & Country Head
Al Baraka Islamic Bank, Pakistan
95-B, Hali Road, Gulberg II,
Lahore, Pakistan
Tel: 0092-42-5756889, 5756890
Fax: 0092-42-5756877
http://www.albaraka.com.pk |
