Al Baraka Bank Pakistan
 | |
| Company type | Unlisted public company |
|---|---|
| Industry | Islamic Banking |
| Founded | 1991 |
Number of locations | 190 branches (2023) |
Key people | Muhammad Atif Hanif (CEO) |
| Products |
|
| Revenue |  Rs. 15.479 billion (US$54 million) (2023) |
| Rs. 6.124 billion (US$21 million) (2023) | |
| Rs. 3.104 billion (US$11 million) (2023) | |
| Total assets | Rs. 255.373 billion (US$880 million) (2023) |
| Total equity | Rs. 18.253 billion (US$63 million) (2023) |
| Parent | Al Baraka Banking Group |
| Website | albaraka |
| Footnotes / references Financials as of 31 December 2023[update] [1] | |
Al Baraka (Pakistan) Limited (ABPL) (Urdu: البراکہ بینک پاکستان) is a Pakistani Islamic bank headquartered in Karachi.[2] It is a subsidiary of the Al Baraka Banking Group, a Bahrain-based Islamic banking group.[3]
It came into being as a result of the first merger in the Islamic Banking sector of Pakistan.[4] The merger took place between the branch operations of Al Baraka Islamic Bank (AIB) Bahrain, Al Baraka Islamic Bank Pakistan (AIBP) and Emirates Global Islamic Bank (Pakistan), and thus from 1 November 2010, the operations of the merged entity began.[5] The second merger took place in 2016 with Burj Bank Ltd.[6] As of September 2016, the Bank has a national presence in Pakistan with a network of 191 branches in more than 97 cities across the country.[7]
History
[edit]
Al Baraka Islamic Bank was initially established in Pakistan in 1991 as Al Baraka Islamic Bank (AIB) Bahrain, and later incorporated as a public limited company in December 2004, receiving its Islamic banking license in 2007.[3][8]
In October 2010, Al Baraka Bank (Pakistan) merged with Emirates Global Islamic Bank (Pakistan), with the latter being rebranded as Al Baraka Bank (Pakistan) Limited.[3]
References
[edit]
- ^ "Al Baraka (Pakistan) Limited Annual Report 2023" (PDF). Retrieved 14 September 2024.
- ^ Haider, Kamran (13 May 2024). "Al Baraka Seeks Expansion as Pakistan Embraces Islamic Banking". Bloomberg.
- ^ a b c Ali, Meiryum (30 January 2021). "Al Baraka: the little bank that stayed little". Profit by Pakistan Today.
- ^ "First-ever merger of Islamic banks in Pakistan". The Express Tribune. Retrieved 17 September 2013.
- ^ "Al Baraka Bank rebranded after merger". Daily Times. Archived from the original on 2 October 2013. Retrieved 18 September 2013.
- ^ "Al Baraka to merge with Burj Bank". Express Tribune. Reuters. 6 September 2016. Retrieved 3 January 2017.
- ^ "Al Baraka Bank Pakistan Limited". Pakistan Banks' Association. Archived from the original on 5 August 2020. Retrieved 27 September 2013.
- ^ "Al-Baraka converted into local bank". Dawn. Retrieved 16 September 2013.
| Central bank | |||||
|---|---|---|---|---|---|
| Big Four | |||||
| Commercial banking |
| ||||
| Microfinance | |||||
| Islamic banking | |||||
| House building | |||||
| Savings Bank | |||||
| Foreign banks | |||||
| Defunct banks | |||||
| See also | |||||
