Launch of AL Baraka Business Plus Account
17 October 2011:
Al Baraka Bank (Pakistan) Limited (ABPL) announced the launch of its Al Baraka Business Plus account. The new addition to its existing comprehensive product portfolio, is set on the basic principles of Mudaraba’h, tailored to suit the business’ banking needs. Capitalizing on excellent knowledge of regional and local markets, ABPL’s products proudly cater to a diversified customer base that fully comply with Shariah principles approved by the Bank’s renowned Shariah Advisory Committee.
Customers can now experience a new level of trust & convenience and enjoy hassle free, non-stop banking with additional benefits and host of free services at all the 89 branches of Al Baraka in 37 cities & towns across Pakistan. Free Benefits and Services include;
* Cheque Books * ATM Card
* Pay Orders * Duplicate Bank Account Statements
* Hold mail Facility * Online Banking Transactions
* Intercity clearing * SMS Banking
* Utility Bills Payment through ATM * Electronic Statement of Accounts
Al Baraka Bank (Pakistan) Limited (ABPL) has been one of the pioneers of Islamic banking in Pakistan, dating back two decades. ABPL is a part of Al Baraka Banking group (ABG), the leading international Islamic banking group in the gulf region. A sound financial position is evident from an authorized capital of USD 1.5 billion, asset base of USD 16.3 billion and total equity amounting to USD 1.8 billion, ABG is listed on Bahrain and NASDAQ Dubai stock exchanges. Al Baraka Bank (Pakistan) Limited came into being as a result of the merger between the Pakistan branches of Al Baraka Islamic Bank, Bahrain, and Emirates Global Islamic Bank Limited.