Al Baraka Bank (Pakistan) Limited
Al Baraka Bank (Pakistan) Limited operates in Pakistan. It offers Shariah-compliant retail term deposits. The bank also provides asset-financing solutions. Specialized retail and business accounts are part of its offerings.
Retail Deposit and Financing Solutions
Al Baraka Mahana Amadani Term Deposit credits profit monthly with 1 to 5-year tenors. The albarakaMahana Amdani Shafqaat Term Deposit also pays monthly profit. Minimum investment is PKR 100,000 for 1 year. For 3 years, it requires PKR 500,000. The upper limit is PKR 10 million. Al Baraka Carsaaz Auto Finance uses a Diminishing Musharaka structure. Financing limits range from PKR 300,000 to PKR 10,000,000.
Al Baraka Bank’s Latest Profit Projections for Retail Deposits
Al Baraka Bank Pakistan is projecting an upward revision in profit rates for its Shariah-compliant retail term deposits. This move is aimed at attracting a larger segment of the market looking for competitive, ethically sound investment options.
Specifically, the "Mahana Amdani Term Deposit" and "Mahana Amdani Shafqaat Term Deposit" are expected to see increased annual percentage rates (APRs) in the upcoming quarter, enhancing their appeal to conservative investors seeking stable monthly returns.
Specialized Accounts and Business Banking
The Al Baraka Mahana Barkah Account offers a fixed monthly profit stream. It has no upper balance limit. Al Baraka Shafqaat Account includes zero account-maintenance charges. Profit sharing depends on the account balance. Al Baraka Business Plus Account allows unlimited free intra-bank transfers. It requires a minimum average balance of PKR 100,000.
Corporate, Investment, and Treasury Services
Al Baraka Working Capital Finance provides facility limits up to PKR 500 million for 12 months. Al Baraka Medium & Long Term Financing offers tenors up to 7 years. The profit rate links to 6-month KIBOR plus a spread. Al Baraka Project Financing uses structured syndicated Murabaha, financing up to 80% of project cost. Al Baraka Islamic Refinance Schemes are SBP-approved with fixed-rate Murabaha corridors. Al Baraka Import Finance & Export Finance offers up to 100% financing of LC value. The profit rate is repriced quarterly.
Al Baraka Commodity Murabaha involves spot or future contracts. Tenors range from 7 to 90 days. Al Baraka Foreign Currency Sukuk issues in USD or EUR. Tenors are 1 to 5 years. Al Baraka Profit Rate Swap facilitates swaps in PKR or USD. Settlement occurs via the AlM Imaraba (AIIDA) framework.
Shariah Compliance and Deposit Security
All retail deposits at Al Baraka Bank are fully Shariah-compliant, ensuring ethical investment and profit-sharing principles are strictly adhered to.
Services
Contact Information
Al Baraka House, 162 Bangalore Town, Main Shahrah-e-Faisal, Karachi 75350, Pakistan