Al Baraka Bank Pakistan

Al Baraka Bank Pakistan company description

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. 260 Billion a workforce of over 2200 professionals and a network of over 180 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. The VIS credit rating company has assigned long-term and short-term rating entity to AA- 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 (c) ("ABG" / the “Group”), licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain. It is a leading international Islamic financial group providing financial services through its banking subsidiaries in 13 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 and Syria, in addition to two branches in Iraq and a representative office in Libya. The authorized capital of ABG is US$ 2.5 billion.

• Employee count

  1,001-5,000

• Industry

  Financial Services

• Headquarter address

  Shahrah e Faisal, 162 Bangalore Town, Karachi, Sind 75350, PK

• Country

  Pakistan

• Company website

  https://albaraka.com.pk