Al Baraka bank Egypt has started to practice its businesses and different sharia-compliant services and activities to individuals and corporates 20 years ago. The bank managed to increase its market share to reach 1.5% in terms of deposits and it has succeeded in becoming a pioneer Islamic banking institution.
The bank provides top notch services and products in addition to saving and investment pools for all spectrums of clients with various maturity and interest rates compliant with Islamic Shariá including deposits, certificates and sukuk.
It is worth mentioning that the Bank launched numerous and unprecedented retail financing programs in the Egyptian banking sector. It provides funds for private and foreign education, clubs, surgeries and tourism tours in addition to car loans and mortgage finance.
Al Baraka bank provides direct financing to companies and institutions that enjoy high credit worthiness, and participates in the syndicated loans of economically feasible large projects that provide large employment opportunities.
In continuation to the pioneering role of the Bank as an Islamic banking institution that represents the investment arm in Egypt of Al Baraka Banking Group, the Bank contributes to the finance of small and medium enterprises which directly contributes to supporting the national economy. It has concluded a deal with the Social Fund for Development to finance new and existing small enterprises by the Islamic partnership system (Mushraka) through a grant by the World Bank.
It has 32 branches distributed over the largest and major Egyptian governorates and cities, in addition to the foreign currency exchange offices.
Al Baraka Bank Egypt is one of the subsidiaries of Al Baraka Banking Group (ABG) . The group has authorized capital of US$ 1.5 billion, and total Shareholders’ equity of US$ 2 billion.
The Islamic International Rating Agency (“IIRA”) has reaffirmed the outstanding rating of A\A1 with positive outlook.
