Al Baraka
Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic commercial bank operating 189+ branches across 85+ Pakistani cities, offering Islamic deposit products, consumer/corporate financing, and digital banking services to retail, SME, agriculture, and government segments as a subsidiary of Bahrain-based Al Baraka Group.
- Company typePrivate
- Founded2010
- HeadquartersKarachi, Pakistan
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Al Baraka does
Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic commercial bank operating as a subsidiary of Bahrain-based Al Baraka Group B.S.C (c), which is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain and listed on Nasdaq Dubai. The entity was formed through the October 2010 merger of Al Baraka Islamic Bank Pakistan and Emirates Global Islamic Bank (Pakistan), and subsequently absorbed Burj Bank Limited in November 2016 to become one of Pakistan's leading Islamic banks. It operates 189+ branches across 85+ cities, 206+ ATMs, and a workforce of over 2,200 professionals, holding assets in excess of Rs. 260 Billion with a VIS credit rating of AA- (long-term) and A1 (short-term).
The bank delivers a full-stack Islamic banking platform built around Murabaha, Musharakah, Mudarabah, Ijarah, Diminishing Musharakah, Istisna, Salam, and Tijarah financing constructs, with all products supervised by a dedicated Shariah Board including a Chairman and three resident/non-resident scholars. Its product portfolio spans 14+ deposit account variants (current, savings, Asaan, Khazana, Banaat, Shafqaat, Tifl, Freelancer, Mudarabah Premium Plus, AIIDA, Business Plus, Basic Banking, Asaan Digital), consumer financing (Carsaaz auto finance up to 60 months, Al Bait home finance up to PKR 100 million, Green Energy Solar financing up to PKR 5 million, Secured Purpose Finance), government housing schemes (Mera Pakistan Mera Ghar, Wazir-e-Azam Apna Ghar), corporate/investment banking, SME/agriculture financing, treasury, home remittance, and Hajj/Tabeer savings plans. Digital infrastructure comprises a mobile banking app, internet banking platform, digital onboarding portal, NFC/contactless debit cards (Mastercard, UnionPay, PayPak), and integrations with RAAST, 1Link, NIFT ePay, PayFast, and Masterpass QR.
Revenue is generated through spread-based Islamic financing income (mark-up on Murabaha, Ijarah rentals, profit-sharing on Musharakah/Mudarabah), Mudarabah-based deposit mobilization where the bank acts as Mudarib, fee and commission income from trade services (Letters of Credit, Letters of Guarantee), foreign exchange, and cross-selling of Takaful insurance and travel services through its 189-branch distribution network. Customer segments are broad and horizontal: retail individuals (salaried, self-employed, women, seniors, youth, freelancers), SMEs, agriculture, corporate/commercial clients, government payroll accounts, and Islamic Financial Institutions (via AIIDA). Go-to-market is omnichannel — physical branches, ATMs, digital self-serve (mobile/internet banking, digital account opening), phone banking, and participation in State Bank of Pakistan initiatives including Banking on Equality and Islamic Banking Awareness campaigns.
Al Baraka firmographics
Firmographics- Name
- Al Baraka
- Legal name
- Al Baraka Bank (Pakistan) Limited
- Website
- https://albaraka.com.pk
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic commercial bank operating 189+ branches across 85+ Pakistani cities, offering Islamic deposit products, consumer/corporate financing, and digital banking services to retail, SME, agriculture, and government segments as a subsidiary of Bahrain-based Al Baraka Group.
- Ownership category
- akta.pro rank
Al Baraka industry classification
Industry- Product category
- Islamic Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Islamic Retail Banking (FSABAGAA)
- akta.pro secondary industries
- Islamic SME & Commercial Banking (FSABAGAB), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)
Keywords
Where Al Baraka is headquartered
LocationHeadquarters
- HQ city
- Karachi
- HQ country
- Pakistan
- HQ region
- Asia
Offices1 record
Markets served
Al Baraka business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Islamic Financing (Murabaha, Musharakah, Mudarabah, Ijarah): The bank provides various Shariah-compliant financing products including Murabaha (cost-plus sale), Musharakah (partnership-based financing), Ijarah (leasing), Diminishing Musharakah, Istisna, Salam, and Tijarah for working capital, project finance, trade finance, and consumer financing including auto finance and home finance
- Deposit Mobilization: Acceptance of Shariah-compliant deposits including current accounts (Qarz-based), savings accounts (Mudarabah-based), term deposits, and specialized deposit schemes generating profit from investment activities
- Fee-Based Services: Transaction fees, service charges, processing fees for various banking services including trade services (Letters of Credit, Letters of Guarantee), foreign exchange services, travel services (Rahnuma), and digital banking services
- Branch & Digital Banking Services: Cross-selling of insurance (Takaful), travel packages, and other third-party financial products through the bank's extensive branch network and digital channels
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Current Account - PKR 100 opening, multi-currency (PKR, USD, GBP, EUR, AED, JPY), no minimum balance |
| Subscription | Monthly | Banaat Account - Women-focused savings with PKR 5,000 minimum opening |
| Unit Pricing | Monthly | Al Bait Home Finance - Financing up to Rs. 100 million |
| Unit Pricing | Monthly | Carsaaz Auto Finance - Diminishing Musharakah-based vehicle financing |
| Subscription | Monthly | Tabeer Saving Plan - Recurring deposit with Takaful coverage |
| Unit Pricing | Monthly | Green Energy Solar Financing - Up to PKR 5 million |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels7 records
Al Baraka product offering
Product offeringCore offering
Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic bank offering a full suite of retail, consumer, corporate, SME, and agriculture banking products. Its core offerings include deposit accounts (savings, current, term deposits), Shariah-compliant financing (auto, home, personal, green energy solar), trade finance, treasury services, investment banking, and digital banking channels. The bank serves both individual consumers and business clients across Pakistan through 189+ branches and digital platforms.
Product overview
Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic bank offering a comprehensive suite of banking products and services. The portfolio includes multiple deposit account variants (Current Account, Savings Account, Asaan Account, Mahana Barkah, Shafqaat, Tifl-Young Savers, Khazana, Business Plus, Mudarabah Premium Plus, Banaat, Freelancer, Asaan Digital, Basic Banking, and Islamic Institution Deposit Account) and term deposits (Term Deposit, Mahana Amadani, Mahana Amadani Shafqaat, Banaat Term Deposit) based on Mudarabah, Qarz, and other Islamic finance principles. The bank provides consumer financing products including Carsaaz auto finance, Green Energy Solar Financing, Secured Purpose Finance, Al Bait Home Finance, Mera Pakistan Mera Ghar, and Wazir E Azam Apna Ghar government schemes, along with value-added products like Tabeer Saving Plan and Hajj Al Baraka Saving Plan. Digital banking is delivered through Mobile Banking App, Internet Banking, and various debit card options (Mastercard, UnionPay, PayPak, Aura). Corporate and business services encompass Corporate & Investment Banking, Cash Management, SME Banking, Agri Financing, Treasury, and Home Remittance. The bank operates over 189 branches across Pakistan serving diverse market segments including individuals, SMEs, corporates, and women-focused Banking on Equality initiatives.
Differentiator
Problem solved
Functional benefit
Products and services
- Carsaaz Auto Finance Shariah-compliant vehicle financing product for individual consumers seeking to purchase cars through Islamic financing structures.
- Al Bait Home Finance Shariah-compliant home financing solution for consumers to purchase, build, or renovate residential properties through Islamic finance structures.
- Green Energy Solar Financing Shariah-compliant financing product for individuals and businesses seeking to adopt solar energy solutions and install rooftop solar systems.
- Rahnuma Travel Services Shariah-compliant travel-related services including travel financing and related banking solutions for consumers.
- Mobile Banking App Mobile banking application allowing customers to perform account management, fund transfers, bill payments, and other banking services on smartphones.
- Internet Banking Web-based online banking platform providing customers with access to their accounts, transactions, and banking services via the internet.
- Insha Digital Banking Service Digital banking service that enables customers to access banking products and services through digital channels.
- Debit Cards Shariah-compliant debit cards including NFC/contactless variants for account holders to conduct point-of-sale transactions and ATM withdrawals.
- Corporate Banking Comprehensive Shariah-compliant banking services for corporate clients including financing, trade finance, treasury, and cash management solutions.
- Trade Finance Shariah-compliant trade finance services including import/export financing, letters of credit, and guarantees for corporate and commercial clients.
- Treasury Services Shariah-compliant treasury services including liquidity management, investment placements, and financial market operations for corporate and institutional clients.
- Investment Banking Shariah-compliant investment banking services for corporate clients including capital raising, financial advisory, and structured financing solutions.
- Consumer Banking (Al Baraka) Comprehensive Shariah-compliant consumer banking products including savings accounts, financing, and digital banking solutions for individual customers.
- SME Banking Shariah-compliant banking products and financing solutions tailored for small and medium enterprises including working capital financing and business banking services.
- Agriculture Financing Shariah-compliant agriculture financing solutions for farmers and agribusinesses to support crop production, livestock, and agricultural infrastructure.
- Mustaqeem Banking Specialized Shariah-compliant banking service designed for persons with disabilities (PWDs), providing accessible banking products and services.
- Digital Account Opening Platform Digital platform enabling customers to open bank accounts remotely through paperless, end-to-end digital onboarding processes.
Quantifiable outcome
- Assets exceeding Rs. 260 Billion
- +3 more outcomes
Companies that use Al Baraka
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles4 records
Al Baraka technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature4 records
Al Baraka partnerships and signals
Strategic signalScale indicators8 records
Recent moves8 records
Expansion highlights7 records
Al Baraka competitors and assessment
Company assessmentDirect peers
- BankIslami Pakistan: Pakistan-based full-fledged Islamic bank offering retail, SME, and corporate Shariah-compliant products. Comparable to Al Baraka in operating model and target segments, with similar scale and SBP regulatory framework.
- Faysal Bank (Islamic): Pakistani bank with significant Islamic banking operations offering Shariah-compliant deposits and financing. Comparable to Al Baraka in target customer segments and product offerings, with broader conventional banking parent.
- Bank Alfalah Islamic: Islamic banking operations of Bank Alfalah, one of Pakistan's largest private banks. Offers similar Shariah-compliant retail and corporate products to Al Baraka, with stronger digital infrastructure and parent backing.
- MCB Islamic Bank: Islamic banking subsidiary of MCB Bank, one of Pakistan's largest conventional banks. Comparable Islamic retail and corporate banking products to Al Baraka, with stronger parent balance sheet.
- Meezan Bank: Pakistan's largest and leading Islamic bank offering a full suite of Shariah-compliant retail, corporate, and SME banking products. Directly comparable to Al Baraka across Murabaha, Ijarah, and Mudarabah financing, with greater scale and PSX-listed transparency.
- Dubai Islamic Bank Pakistan: Subsidiary of Dubai Islamic Bank (UAE), offering Islamic retail and corporate banking in Pakistan. Highly comparable business model, branch-based distribution, and Shariah-compliant product suite to Al Baraka.
- Standard Chartered Saadiq (Pakistan): Islamic banking window of Standard Chartered Pakistan offering Shariah-compliant products to retail and corporate clients. Comparable Islamic finance offerings to Al Baraka with global banking infrastructure backing.
Others
- Meezan Asset Management (related) / Al Meezan Investment Management: Pakistan's largest Islamic asset management company, subsidiary of Meezan Bank. Comparable as a Shariah-compliant financial services provider in Pakistan though focused on mutual funds rather than core banking.
Emerging players
- JS Bank: Pakistan-based commercial bank offering Islamic banking products as part of diversified financial services. Less directly comparable in Islamic banking depth but competes in retail and SME segments where Al Baraka operates.
Broad incumbents
- Habib Bank Limited (HBL Islamic Banking): Pakistan's largest bank operating an Islamic banking window alongside conventional operations. Competes with Al Baraka in Islamic retail and corporate banking while offering much broader conventional services and significantly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Al Baraka social profiles
Digital presenceAl Baraka financial estimates
Financial estimateRevenue estimate
Valuation estimate
Al Baraka leadership team
Management profileNumber of profiles
Profiles16 records
Al Baraka funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Al Baraka M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Al Baraka
What does Al Baraka do?
Al Baraka Bank (Pakistan) Limited is a Shariah-compliant Islamic bank offering a full suite of retail, consumer, corporate, SME, and agriculture banking products. Its core offerings include deposit accounts (savings, current, term deposits), Shariah-compliant financing (auto, home, personal, green energy solar), trade finance, treasury services, investment banking, and digital banking channels. The bank serves both individual consumers and business clients across Pakistan through 189+ branches and digital platforms.
Is Al Baraka a public or private company?
Al Baraka is a private company. It is classified as corporate owned and is currently operating.
When was Al Baraka founded?
Al Baraka was founded in 2010. It employs 1,001 to 5,000 people.
Where is Al Baraka based?
Al Baraka is headquartered in Karachi, Pakistan, in the Asia region.
How does Al Baraka make money?
Four revenue lines are on record. Islamic Financing (Murabaha, Musharakah, Mudarabah, Ijarah) is the primary driver. The others are deposit Mobilization, fee-Based Services and branch & Digital Banking Services.
Who are Al Baraka's main competitors?
Direct peers on record are BankIslami Pakistan, Faysal Bank (Islamic), Bank Alfalah Islamic, MCB Islamic Bank, Meezan Bank, Dubai Islamic Bank Pakistan and Standard Chartered Saadiq (Pakistan). Meezan Asset Management (related) / Al Meezan Investment Management is listed as an others. JS Bank is listed as an emerging player. Habib Bank Limited (HBL Islamic Banking) is listed as a broad incumbent.
Does Al Baraka have an API?
No public API is recorded for Al Baraka.
What industry is Al Baraka in?
Al Baraka's product category is Islamic Banking. Its primary akta.pro industry code is FSABAGAA, Islamic Retail Banking, with a secondary code of FSABAGAB, Islamic SME & Commercial Banking. Its NAICS code is 522110 and its SIC code is 6021.