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Letters of Guarantee
 
  1. The bank issues all types of letters of guarantee related to trade finance, construction and projects as well as all other financial guarantees which cover all kinds of liabilities of the applicant.

  2. The bank issues letters of guarantee for specific purposes such as guaranteeing the performance of certain jobs or legal obligations.

  3. The bank may request the customer to deposit a certain amount of money as a margin to secure such a facility.

  4. The Bank charges fees for the services that it provides if the letter of guarantee is cash covered, otherwise, the bank takes a commission that covers the actual cost for the issuance of the letter of guarantee. 
  Last Updated:30/10/2014
  About Al Baraka
Al Baraka Islamic Bank - Bahrain (AIB - Bahrain) established 1984 in Bahrain and up the years has pioneered the development of Isl... read more>>

  Individuals
Current Accounts: On demand accounts are not entitled to receive profits but do not bear any loss either. They are designed speci... read more>>

  Commercial & Corporate
Murabaha is an Islamic form of asset financing and has a fixed term and a pre-determined profit. In a Murabaha the bank buys a spe... read more>>
     
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