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May 20 -June 02, 2002

AlBaraka Islamic Bank BSC (EC) is a Scheduled Commercial Bank operating in Pakistan since 1991 as a foreign bank, incorporated in Bahrain. The Bank is committed to develop and promote an integrated Islamic Financial system. Compliance with the rules and principles of Islamic Shari'ah is at the core of the banking and financial activities of the Bank. The Arabic word "Al Baraka" in the Bank's name literally means "Barkat" or "Khair" in Urdu and it signifies our belief in the fact that the source of real "Baraka" in finance and economy is the abiding principles of Islamic Shari'ah. Thus, the Bank's motto is "Shari'ah is our Source".

The Head Office of the Bank is in Bahrain, where it was incorporated as a Bahraini Shareholding Company on 16th of Ramadan 1404 A.H. The authorized capital of the Bank is US$ 200 million and paid up capital is US$ 50 million.

AlBaraka Islamic Bank is a member of the well known Dallah Albaraka Group of Saudi Arabia, which comprises a diverse range of business ventures in the fields of banking, finance, leasing, insurance, information media, trade and services, spread over many countries.


AlBaraka Islamic Bank started its operations in Pakistan in the year 1991 and has since grown from strength to strength. Alhamdo Lillah AlBaraka's operations in Pakistan now have a capital base of over Rs.752 million and it has recorded a consistent growth in business volume and profitability every year. Its Country Head Office is located in Lahore. It has four branches in the four major cities of Pakistan, i.e. Lahore, Karachi, Faisalabad and Islamabad. It looks ahead to soon establishing more branches in Peshawar, Rawalpindi and other cities of Pakistan, as an expression of its commitment to contributing and sharing in the economic well being of Pakistan.


To be a leading and a diversified International Islamic Bank, offering a wide range of quality products and services and forming strategic alliances for a competitive edge.


We strive to be a Premier Regional Islamic Bank, dedicated to the economic and social development of our target markets, maximizing our clients and shareholders value, and focusing on the human resource development in an environment of creativity and innovation.


AlBaraka is committed to providing the best possible banking services to our customers, in compliance with the highest standards of banking practice and the pristine principles of Islamic Shari'ah and Banking. This commitment is reinforced by all our banking operations being subject to a strict supervision/monitoring by our Board of Shari'ah Advisors, comprising eminent experts and scholars in the field of Islamic Banking/Shari'ah.


AlBaraka Islamic Bank provides a wide range of commercial banking products and services including Murabaha (Trade Financing), Export/lmport Finance, Documentary Letters of Credit, Letters of Guarantee, Acceptances, Foreign Exchange business, besides offering Current Accounts, PLS Savings Accounts, Term Deposits ranging from 7 days to 5 years and the unique Joint Pool Murabaha Investment Accounts. The Bank thus caters to all routine banking requirements of both individual/private account holders and business concerns.

The Bank's relatively new investment product, AMI (AlBaraka Murabaha Investment) account has become very popular both with individual and corporate savers:

It is meant for people/organisations who care for the security of a bank deposit but with a return/profit that is certified to be Halal; AMI account has been approved as Shari'ah-compliant by Darul Uloom and Darul Ifta of the Centre for Islamic Economics and the returns on it are recognised as Halal.

It is a joint pool investment account, where a pool of investor's funds are deployed in a pool of carefully selected, strictly Shari'ah-compliant Murabaha transactions.

The return on investment is determined on a strictly specified criteria/formula, shared between the investor and the Bank in the ratio of 70: 30, all under the supervision of the Bank's Shari'ah Advisors.

Summarising AlBaraka Islamic Bank's philosophy and objectives, the bank's Regional General Manager & Country Head, Mr. Shafqaat Ahmed says, "At AlBaraka, we are trying to make an honest and sincere effort with a missionary zeal, aimed at making and showing Islamic Banking to be a possible, practicable and a better alternative to conventional banking. What we need is understanding, cooperation, support and guidance of all those who share this objective".