Al Baraka Bank (Pakistan) Limited (ABPL) is one of the leading Islamic banks in Pakistan and has a significant presence in the market with its Shariah-compliant financial services and extensive branch network. As a subsidiary of Al Baraka Bank Group in Bahrain, ABPL is committed to meeting the financial needs of individuals and businesses while driving financial inclusion through a diverse portfolio of products and digital services.
Banking
BasicsABPL is a private commercial bank focused on providing Shariah-compliant financial services. It was established in Pakistan in 1991 under the name of Al Balaka Islamic Bank (AIB) Bahrain, registered as a listed company in December 2004 and obtained an Islamic banking license in 2007. In October 2010, ABPL merged with Emirates Global Islamic Bank (Pakistan), making it the first merger in the Islamic banking sector in Pakistan, and the combined entity has been operating since 1 November 2010. ABPL is headquartered at Al Baraka House, Karachi, 162 Bangalore Town, Main Shahrah-e-Faisal.
ABPL's services cover 84 cities and towns in Pakistan, with more than 170 branches, and provide convenient cash withdrawal services through the 1Link ATM network. Banks are regulated by the State Bank of Pakistan (SBP) and their market conduct is monitored by the Financial Sector Conduct Authority (FSCA). ABPL participates in the Pakistan Deposit Protection Corporation (DPC) scheme, which allows customers to be insured for up to 500,000 Pakistan rupees (approximately US$2,500) for their deposits. No significant compliance issues have been identified recently, indicating operational stability.
Financial healthABPL's
financial data is not disclosed in detail in public information, but as an SBP-regulated bank, it must meet strict capital and liquidity requirements. According to the 2019 Al Baraka Banking Group report, ABPL's total assets increased to $1 billion from $893 million in 2018, and customer accounts increased from $779.6 million to $877.6 million, indicating a solid growth trend.
Deposits & LoansABPL
offers a wide range of Shariah-compliant deposit products, including:
Savings accounts, such as the Al Baraka Shafqat Account and the Al Baraka Mahana Barkat Account, offer competitive profit margins to meet the needs of low- and middle-income customers.
Fixed Deposits: Flexible tenors and profit margins are available, and the specific interest rate is subject to bank inquiry.
> current accounts: such as Al Baraka Current Account, which supports multiple currencies and unlimited transactions, is suitable for daily use.
Featured products include the "Oxford" Children's Savings Account, which is designed for minor children with a low minimum deposit amount and funds paid when the child reaches adulthood. Deposit profits are tax-free in Pakistan and are available to both residents and non-residents.
LoansABPL
offers a variety of financing products, all of which are Shariah-compliant:
Car Financing (Al Baraka Carsaaz): provides financing for individual car purchases, with flexible terms and specific interest rates subject to bank consultation.
Housing Finance: Support for the purchase or construction of a home and participation in the My Pakistan My Home low-cost housing program, subject to meeting SBP eligibility criteria (e.g. first-time homebuyers).
Tourism Financing (Rahnuma Travel Services): A one-stop solution for Hajj, Hajj or other trips, including visa processing and accommodation arrangements.
List of common fees
: ABPL's fee structure includes account management fees, transfer fees, and ATM usage fees, among others. Hidden fees that may exist include minimum balance requirements or specific transaction fees, and customers should carefully review the terms of the contract.
Fee Type Details Account Management Fee Undisclosed, need to inquire through customer service Transfer fee Domestic and cross-border transfer fees are different, please inquire for details ATM inter-bank withdrawal fee Withdrawal fees may be incurred for withdrawals through the 1Link network, which needs to be inquired Hidden Fee Reminder May include a minimum balance requirement, it is recommended to check the fee terms
regularlyDigital Service Experience
ABPL provides a mobile banking app that supports real-time transfers, bill payments, QR payments, account management, and ATM/branch locating. The app has a rating of 4.5 stars on the Apple App Store, indicating that users are satisfied with its features, and
the quality of customer service
ABPL is > through 24/7 phone support (111-113-442) and email () To provide customer service. Available in English and Urdu, it is suitable for both local and cross-border users. Social media response speed information is limited, but the bank's extensive branch network and hotline service ensure the accessibility of customer support.
Safety and Security
MeasuresFunds Security
Customer deposits are secured by DPC up to PKR 500,000 and are compliant with SBP regulatory requirements. ABPL uses standard anti-fraud technologies such as real-time transaction monitoring to protect the safety of customer funds.
Featured Services & DifferentiationABPL
stands out through the following featured services:
Tourism Finance (Rahnuma Travel Services): a one-stop solution for Hajj, Hajj and international travel, Visa and accommodation arrangements are included.
Car Financing (Al Baraka Carsaaz): Flexible Islamic financing for individual car purchases.
Socially responsible products, such as the Al Baraka Shafqat Account, with an emphasis on social impact and financial inclusion.
Green Finance: Participate in SBP's renewable energy financing program to support solar, wind and other projects.
Market Position & AccoladesABPL
is one of the leading Islamic banks in Pakistan with assets above PKR 225 billion (approximately USD 1 billion, 2019 data). Its more than 170 branches and the global network of the Al Baraka Banking Group enhance its competitiveness in the market. Although no specific award was found for ABPL, its parent company was awarded the "Best Regional Bank" (2010) and the "Compliance & Corporate Governance Award" (2010), demonstrating the Group's industry recognition. ABPL has played an important role in financial inclusion and Islamic banking promotion in Pakistan.
Summary:
Al Balaka Bank (Pakistan) Limited occupies a significant position in the banking sector in Pakistan through its Shariah-compliant financial products, extensive branch network, and digital services. Its robust regulatory compliance, customer-oriented services, and featured products make it an ideal choice for clients seeking Islamic financial solutions.
