al yaqeen bank

What al yaqeen bank does

Al Yaqeen Bank (مصرف اليقين) is a privately held Libyan Islamic bank headquartered on Al-Shat road in Tripoli, operating under Central Bank of Libya regulation and Sharia Supervisory Board oversight. The bank delivers Sharia-compliant retail, corporate, and digital banking services through 15 branches across Libya, an ATM and POS network, and a digital banking platform accessible via web and iOS/Android mobile applications. Its customer base spans Libyan individuals and families, public-sector and private-sector employees via dedicated salary accounts, small traders and individual license holders, and corporate entities of varying sizes; the bank states it has extended financial support to 5,500 customers.

The product portfolio is broad for a mid-sized Libyan institution. Retail offerings include current accounts, personal-purpose accounts, employee salary accounts, the Al-Sand local debit card, the Al-Safeer Platinum Mastercard and World Elite VIP card for individuals, and Western Union, RTGS, ACH, and SWIFT transfers. Corporate offerings span the Al-Shareek and Al-Shareek Plus (Mastercard) cards, documentary credits, documents-against-collection, letters of guarantee, RTGS/ACH/SWIFT transfers, POS merchant acquiring through the Namo national distributor, and e-commerce payment processing. Islamic financing instruments include Murabaha, Ijara, and Qard Hasan for individuals, and Murabaha, Ijara, Musharakah, Mudarabah, Salam, and Istisna for corporates. Technical infrastructure centers on the digital.yaqeenbank.ly platform, integrated with SWIFT (BIC: YAQBLYLT), Mastercard, and Western Union for international reach.

The revenue model is transaction-fee-driven across Islamic banking services, card interchange and issuance, financing markups (Murabaha), trade finance commissions, transfers, POS acquiring, and e-commerce processing, with pricing set in compliance with Central Bank of Libya regulations. Distribution is sales-led via the branch network, supplemented by digital self-service, SMS banking, and social media engagement. The bank is entirely domestic in geographic scope, with international capability limited to inbound and outbound transfers via SWIFT and Western Union, and its operating environment is shaped by Libya's broader macroeconomic and political conditions, which are not detailed in the available data.

Name

al yaqeen bank

Legal name

Al Yaqeen Bank

Website

https://yaqeenbank.ly

Company type

Private

Operating status

Operating

Short description

Al Yaqeen Bank is a privately held Libyan Islamic bank offering Sharia-compliant retail, corporate, and digital banking services through 15 branches, mobile and web platforms, and an ATM and POS network across Libya.

Ownership category

akta.pro rank

Product category

Islamic Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic Retail Banking (FSABAGAA), Islamic SME & Commercial Banking (FSABAGAB), Islamic Corporate Banking (FSABAGAC), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Corporate banking services
• Personal banking accounts
• Trade finance solutions

Headquarters

HQ city

Tripoli

HQ country

Libya

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Islamic Banking Services: Core banking services including current accounts, savings accounts, and deposit management for individuals and corporates in compliance with Islamic Sharia principles
2. Card Services: Issuance and management of debit cards (Al-Sand local card, Al-Safeer Platinum Mastercard, Al-Shareek cards, World Elite cards) generating interchange and transaction fees
3. Islamic Financing Products: Murabaha (cost-plus financing), Ijara (leasing), Qard Hasan (interest-free loans), Musharakah (partnership), Mudarabah, Salam, and Istisna financing facilities
4. Commercial Banking Services: Documentary credits, letters of guarantee, documentary collections for corporate clients
5. Transfer Services: RTGS, ACH, SWIFT, and Western Union money transfer services with associated fees
6. E-Commerce Services: Electronic commerce payment processing services for corporate clients

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Al Yaqeen Bank is a Libyan Islamic bank that provides Sharia-compliant banking services to individuals and corporates. Its core offerings include current accounts, salary accounts, debit and credit cards (local and Mastercard), Islamic financing products (Murabaha, Ijara, Qard Hasan, Musharakah, Mudarabah, Salam, Istisna), trade finance instruments (documentary credits, letters of guarantee, documentary collections), domestic and international transfer services (RTGS, ACH, SWIFT, Western Union), and digital banking through mobile apps and a web platform.

Product overview

Al Yaqeen Bank is a Libyan Islamic (Sharia-compliant) bank offering a comprehensive suite of banking products and services. The portfolio includes: retail and corporate deposit accounts (Current Account, Personal Purpose Account, Employee Accounts), a range of card products (local Al-Sand card, international Mastercard products including Al Safeer Platinum and World Elite for individuals, Al Shareek and Al Shareek Plus for corporate), Islamic financing solutions (Murabaha, Al-Ijara, Qard Hasan for individuals; Murabaha, Al-Ijara, Musharakah, Mudarabah, Al-Selm, Al-Istisna for corporate), trade finance services (Documentary Credits, Documents Against Collection, Letters of Guarantee), domestic and international transfer services (RTGS, ACH, SWIFT, Western Union), and digital banking channels including mobile app and online platform. The bank operates through 15 branches across Libya with digital-first service delivery approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Digital Bank (المصرف الرقمي) Online banking platform providing comprehensive financial services accessible via web and mobile application, allowing customers to manage accounts, transfers, and payments digitally. Targeted at both individual and corporate customers in Libya.
• Current Account (الحساب الجاري) Primary checking account providing flexibility for depositing and withdrawing funds for both individual and corporate customers in Libya.
• Al-Sand Card (بطاقة السند) Local debit card in Libyan dinars with direct account linkage. Daily purchase limit of 10,000 LYD and monthly limit of 40,000 LYD for point-of-sale transactions. For individual customers.
• Al Safeer Platinum Mastercard (بطاقة البلاتينيوم "السفير") Mastercard Platinum card for personal use enabling global purchases and cash withdrawals worldwide. For individual customers.
• World Elite Card (بطاقة ورلد ايليت) VIP premium card for high-net-worth customers offering free VIP airport lounge access, higher withdrawal and purchase limits, and exclusive services. For individual customers.
• Al Shareek Card (بطاقة الشريك) Local corporate debit card in Libyan dinars directly linked to business accounts for merchants and companies. For corporate customers.
• Al Shareek Plus Card (بطاقة الشريك بلس) International Mastercard for corporate customers allowing foreign currency loading up to $500,000 annually with purchase limit of 500,000 USD per transaction. For corporate customers.
• Murabaha (المرابحة) Islamic cost-plus financing solution allowing customers to purchase goods at marked-up price payable in installments, compliant with Sharia principles. For individual customers.
• Al-Ijara (الإجارة) Islamic leasing contract where the bank transfers lawful benefit of an asset to the customer for specified period and consideration. For individual customers.
• Qard Hasan (القرض الحسن) Interest-free loan compliant with Islamic Sharia, provided for beneficial purposes without interest charges. For individual customers.
• Musharakah (المشاركة) Islamic profit-sharing partnership where bank and customer share capital and profits according to agreed ratios. For corporate customers.
• Mudarabah (المضاربة) Islamic financing combining capital and labor where bank provides capital and customer provides expertise, with profits shared. For corporate customers.
• Al-Selm (السلم) Islamic forward sale contract where payment is made in advance for goods to be delivered later at specified price. For corporate customers.
• Al-Istisna (الاستصناع) Islamic manufacturing contract allowing customers to obtain custom-manufactured products through bank financing. For corporate customers.
• Documentary Credits (الاعتمادات المستندية) Letters of credit services for corporate customers facilitating international trade transactions with innovative Islamic financing solutions. For corporate customers.
• Documents Against Collection (المستندات برسم التحصيل) Trade finance service ensuring smooth handling of commercial documents for collection purposes. For corporate customers.
• Letters of Guarantee (خطابات الضمان) Bank guarantee instruments ensuring fulfillment of commercial obligations, providing secure and reliable solutions. For corporate customers.
• Western Union Transfer (حوالة ويسترن يونيون) International money transfer service through Western Union network with annual personal allocation of $4,000. For individual and corporate customers.
• RTGS Transfer (حوالة RTGS) Real-time gross settlement transfer service for high-value domestic transactions processed individually in real-time. For individual and corporate customers.
• ACH Transfer (حوالة ACH) Automated Clearing House transfer service for domestic electronic fund transfers at reduced costs. For individual and corporate customers.
• SWIFT Transfer (حوالة SWIFT) International wire transfer service via SWIFT network for cross-border payments (Swift Code: YAQBLYLT). For individual and corporate customers.
• ATM Service (خدمة الصراف الآلي) Bank's ATM network providing 24/7 cash withdrawal, deposit, balance inquiry, and account services. For individual and corporate customers.
• POS Service (خدمة نقاط البيع) Point-of-sale terminal services enabling merchants to accept card payments from customers. For merchant and corporate customers.
• E-Commerce (التجارة الإلكترونية) Online payment gateway services enabling businesses to accept digital payments through their websites. For corporate customers.
• SMS Banking (الرسائل القصيرة) SMS notification service keeping customers informed of account activities and transaction alerts. For individual and corporate customers.
• Mobile Application (تطبيق مصرف اليقين) Mobile banking application available on iOS App Store and Google Play Store for comprehensive account management. For individual and corporate customers.
• Personal Purpose Account (حساب الأغراض الشخصية) Specialized account designed for entrepreneurs and business owners for managing personal business finances. For individual customers.
• Private Sector Employee Account (حساب موظفي القطاع الخاص) Salary account specifically designed for private sector employees with tailored banking services. For individual customers.
• Public Sector Employee Account (حساب موظفي القطاع العام) Salary account for government employees facilitating easy financial management. For individual customers.

Quantifiable outcome

• Financial support extended to 5,500 customers
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Western UnioncoreTechnology or Integration · 8 August 2024Western Union partnership enables international money transfer services for bank customers. Personal purpose allocation up to $4,000 available through Western Union service. This partnership provides customers with access to global remittance capabilities.
• MastercardcoreTechnology or IntegrationMastercard partnership enables international card services including Al-Safeer Platinum Mastercard for individuals and Al-Shareek Plus international Mastercard for businesses with foreign currency loading capabilities up to $500,000 annually.
• Namo (نمو) - National DistributorcoreChannel Partner/ Reseller/ DistributorNational distributor partnership for Point of Sale (POS) terminal services. The Al-Sand local card enables shopping through the Namo network of merchants across Libya.
• Central Bank of Libya (مصرف ليبيا المركزي)coreOthersPrimary regulatory authority overseeing the bank's operations. All service pricing and fees comply with regulations issued by the Central Bank of Libya. The bank operates under regulatory supervision and follows Central Bank guidelines.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank of Khartoum: Sudanese bank with a strong Islamic banking franchise; comparable as a North African Islamic bank with retail and corporate Sharia-compliant products serving a similar economic profile.
• National Commercial Bank (Libya): Privately held Libyan bank offering retail, corporate, and trade finance services; directly comparable in scale and product mix as a private Libyan commercial peer.

Broad incumbents

• Al Baraka Banking Group: Bahrain-headquartered pan-Islamic banking group with operations across MENA; relevant peer for Islamic financing products (Murabaha, Ijara, Musharakah) and Sharia governance benchmarks.
• Kuwait Finance House: Major Kuwaiti Islamic bank offering retail, corporate, and trade finance under Sharia principles; comparable on Islamic product breadth, corporate financing structures (Musharakah/Mudarabah), and regional trade finance corridors.
• Al Rajhi Bank: World's largest Islamic bank by assets, operating in Saudi Arabia with full Sharia-compliant retail and corporate products; relevant broad incumbent benchmark for Islamic finance product design and scale economics.
• Dubai Islamic Bank: UAE's flagship Islamic bank with a full retail, corporate, and treasury suite; comparable on Sharia product depth, card portfolio (Mastercard Platinum/World), and trade finance capabilities.
• Qatar Islamic Bank: Leading Qatari Islamic bank offering retail, corporate, and Sharia-compliant financing; relevant peer for Islamic product architecture and corporate Murabaha/Ijara structuring.
• Jumhouria Bank: State-owned Libyan commercial bank and one of the largest in the country; directly comparable as a full-service Libyan deposit-taker and lender competing for the same retail and corporate wallet.
• Wahda Bank: Large Libyan commercial bank with Islamic banking windows; comparable as a Libyan full-service bank including Sharia-compliant offerings competing for the same customers.
• Sahara Bank: Major Libyan commercial bank offering retail and corporate banking, documentary credits, and card products; comparable in product breadth and target segments within Libya.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/al-yaqeen-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about al yaqeen bank