The Financial Institutions (FI) at Al Baraka Bank (Pakistan) Ltd. is a part of Treasury and FI Group. The FI is mainly responsible for establishing and maintaining relationship with Financial Institutions especially banks which include international correspondent banks and local banks. The scope of FI covers all trade related activities as well as managing Nostro/Vostro relationships. Trade finance services include import/export business, consisting of advising, confirmation, negotiation, undertakings and guarantees business. In addition to this FI is also responsible for relationship with the Takaful/insurance companies which provide takaful/insurance arrangements to the bank’s customers.
Al Baraka has more than 267 international correspondents located in 70 countries, including global banks like Standard Chartered Bank and Mashreqbank on its list providing global reach and acceptability.