With a vision for unrivalled services, dedication to Islamic principles of banking, increasing network points, and innovative product line, Al Baraka Bank (Pakistan) Limited is committed to the Banking Industry in Pakistan.
Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between Al Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka Islamic Bank (AIB) Bahrain and Emirates Global Islamic Bank (Pakistan). The merged entity commenced operations on October 30th 2010.
The merger, a first in the Islamic Banking sector in Pakistan, positions ABPL to play an important role in further growing an industry which has witnessed tremendous growth over the last 15 years. This growth was further catalysed in November, 2016 when Burj Bank Limited’s operations were merged into ABPL making the Bank one of the leaders in the Islamic Banking sphere of the country.
With assets in excess of Rs. 225 Billion a workforce of over 2300 professionals and a network of over 170 branches in 84 cities and towns across Pakistan, Al Baraka Bank (Pakistan) Limited is devoted in providing customers with a range of Shariah compliant products to suit their banking needs.
Faced with growing challenges in this rapidly developing market, ABPL 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 Shariah rulings and principles.
Al Baraka Bank (Pakistan) Limited, 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 Shariah compliant deposit schemes are also available for customers to invest their funds in, along with a host of card based and Digital Banking solutions. These include NFC / Contactless debit cards (Mastercard, UnionPay International, PayPak) and Al Baraka Mobile / Internet Banking Facility allowing customers to make instant funds transfer through 1Link & RAAST network, bill payments and Masterpass QR payments.
The VIS credit rating company has assigned long-term and short-term rating entity A+ and A1 respectively. These ratings denote a lower expectation of credit risk emanating from a strong capacity for timely payments of financial commitments.
ABPL is a subsidiary of Al Baraka Group B.S.C ("ABG" / the “Group”), licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain and is listed on Bahrain Bourse. It is a leading international Islamic financial group providing financial services through its banking subsidiaries in 15 countries offering retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Islamic Shari'a.
The Group has a wide geographical presence with operations in Jordan, Egypt, Tunisia, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Syria, Morocco and Germany, in addition to two branches in Iraq and a representative office in Libya and provides its services in more than 600 branches. ABG’s network serves a population totaling around one billion customers.
The authorized capital of ABG is US$ 2.5 billion.
It is part of ABPL’s commitment, to put the customer’s values foremost, hence providing them with a banking solution that is in line with their beliefs.