Our Story

As a leading financial institution, Al Baraka Islamic Bank has helped to build the infrastructure of the Islamic finance industry since our establishment in 1984. Our reputation for success has allowed us to promote the merits of Islamic finance with innovative and Shari’a-compliant products.

Our knowledge of Islamic Fiqh, the breadth of our team’s experience, and the financial security of our parent company, Al Baraka Banking Group, has empowered us to achieve exceptional results on behalf of large financial institutions and high net worth clients alike.

In 2010, we merged our branches in Pakistan with Emirates Global Islamic Bank Ltd., establishing Al Baraka Bank Pakistan Ltd. (ABPL). In 2016, we merged ABPL with Burj Bank Ltd., creating 74 new branches with more than 2,500 professionals in over 100 cities.

As part of our strategy to enter key regional markets, Al Baraka acquired 60% of the shares of Itqan Capital, a joint stock company registered in the Kingdom of Saudi Arabia, in 2012.

Now, we are focusing on consistent growth in business operations, with an emphasis on commissions and fee-based income. We’re expanding our investment portfolio, developing our infrastructure, and modernising our services to improve your customer experience.

Al Baraka Islamic Bank (AIB) is a retail Islamic bank, licensed by the Central Bank of Bahrain and registered with Bahrain’s Ministry of Industry, Commerce, and Tourism, under Commercial Registration No. 14400. We have an authorised capital of 600 million USD, and an issued and paid-up capital of 122.5 million USD.

AIB is a banking unit of Al Baraka Group (ABG), a joint stock company listed on the Bahrain stock exchange. Al Baraka Group B.S.C ("ABG" / the “Group”) is 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 16 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, Saudi Arabia, 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.

Vision:

We believe society needs a fair and equitable financial system: one which rewards effort and contributes to the development of the community.

Mission:

To meet the financial needs of communities across the world by conducting business ethically in accordance with our beliefs, practicing the highest professional standards and sharing the mutual benefits with the customers, staff and shareholders who participate in our business success'

Values:

Partnership:

Our shared beliefs create strong bonds that form the basis of long-term relationships with customers and staff.

Driven:

We have the energy and perseverance it will take to make an impact in our customers’ lives and for the greater good of society.

Neighbourly:

We value and respect the communities we serve. Our doors are always open; our customers always experience a warm hearted, hospitable welcome and accommodating service.

Peace of mind:

Our customers can rest assured that their financial interests are being managed by us to the highest ethical standards.

Social Contribution:

By banking with us our customers make a positive contribution to a better society; their growth and our growth will benefit the world around us

Al Baraka Islamic Bank in Bahrain is a banking institution licensed by the Central Bank of Bahrain as an Islamic retail bank, operating in accordance with the Islamic Shari'ah rules that prohibit dealing with “riba”, taking or giving or entering into any financial transactions that may lead to “riba”.

Al Baraka Islamic Bank therefore believes that it is part of the society in which it lives, and that dealing with “riba” is an injustice to that society because it has an impact.

This is where the idea of ​​Islamic banking, which depend on their activities to trade assets from actual goods and services away from traditional trading instruments, is based. The Islamic bank is either a salesman or a buyer, a partner, a speculator, a manufacturer or an agent, but it can never be an interest-rate lender or a borrower.

At Al Baraka Islamic Bank we believe that we are traders, we buy and then sell at a profit; that is “Murabaha”, and sometimes we buy and then we rent; that is leasing, and sometimes we participate in establishing projects, we share the results of the project with our partner whether positive or negative.

We have taken the development of our societies upon ourselves according to the principle of justice and responsibility, so we are "partners in achievement."