Al Baraka Bank (Pakistan) Limited

With a vision for unrivalled services, dedication to Islamic principles of banking, increasing
network points, and innovative product line, Al Baraka Bank (Pakistan) Limited is committed to
the Banking Industry in Pakistan.

Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between Al Baraka Islamic
Bank Pakistan (AIBP), the branch operations of Al Baraka Islamic Bank (AIB) Bahrain and
Emirates Global Islamic Bank (Pakistan). The merged entity commenced operations on
November 1st 2010.

Faced with growing challenges in this rapidly developing market, Al Baraka Bank (Pakistan)
Limited ABPL strongly relies on its ability to be an effective and efficient market player through
renewed focus on superior customer service, development of Islamic alternatives to conventional
financing facilities, and strict adherence to Shariah rulings and principles.

Al Baraka Bank (Pakistan) Limited, offers a wide array of Islamic financing products such as
Murabaha, Ijarah and Musharakah etc., catering to a diverse cross-section of the economy
including the Corporate, SME and Consumer sectors.

Moreover, various Shariah compliant deposit schemes are also available for customers to invest
their funds in, along with a variety of other ancillary services such as online branch banking,
ATM/debit card, SMS banking, and electronic statement of accounts, safe deposit lockers and
utility bill payments.

The Pakistan Credit Rating Agency (PACRA) has assigned long-term and short-term rating
entity A, and A2 respectively. These ratings denote a lower expectation of credit risk emanating
from a strong capacity for timely payments of financial commitments.

With assets in excess of Rs. 113 billion; a workforce of over 2500 professionals and a network of
around 190 branches in 97 cities and towns across Pakistan, Al Baraka Bank (Pakistan) Limited
is devoted in providing customers with a range of Shariah compliant products to suit their
banking needs.
PRODUCTS AND SERVICES OF AL BARAKA BANK (PAKISTAN) LIMITED

Al Baraka Bank (Pakistan) Limited in Pakistan, offers a comprehensive range of banking

products and services, to suit and serve customers in individual, retail, corporate, SME and
consumer categories

I. ABPL CURRENT ACCOUNT

A current account is a running account based on the concept of “Qarz” where customer deposits
his money in bank for safekeeping. In this capacity Al Baraka Bank (Pakistan) Limited becomes
depository who is responsible for payment of whole amount or a portion of money deposited as
and when required by depositor. Therefore, bank as depository perform function of guarantor.
However, bank does not grant any type of profit in current account. Current Account has been
developed to help customers with their day-to-day business and personal banking needs with
convenience and reliability.

Features of ABPL Current Account

Bank does not pay profit or return to the depositor at ABPL current account.
Current account can be opened with the minimum amount of Re. 1000/- only
There is no balance requirement and bank does not charge penalty for low balances
The account close automatically in case a nil balance is maintained for 6 months.
One can open current account in Pakistani Rupee, United States Dollar, British Pound,
EURO and Arab Emirates Dirham.

II. ABPL SAVING ACCOUNT

ABPL Saving account is operated under the principle of “partnership”. ABPL Saving account
is different from Current account in a sense that it provides account holder to earn profit. If
deposited amount is more than three million than Al Baraka Bank (Pakistan) Limited also grants
hiba to holder of saving account. ABPL Saving account has two types: Mudarabah Premium Plus
Saving Account and Mudarabah Saving Account.
 ABPL Saving Account

Mudarabah Premium Plus Saving

Mudarabah Saving Account
Account

a) Mudarabah Premium Plus Saving Account

Under Mudarabah premium plus saving account profit is calculated on daily basis while transfer
at the end of month.

b) Mudarabah Saving Account

Under Mudarabah saving account profit is calculated and transfer at the end of month.

Eligibility criteria

As per rules of State Bank of Pakistan, PLS Saving account, can be opened for resident person
who is of 18 years of age or above, having full legal capacity to enter into a contractual
obligations. Non-residents, minors (under proper guardian) and illiterate person are also allowed
to open PLS Saving account.

Distribution of profit

The theory of Islamic interest free saving account revolves around investor (customer) and bank
(Al Baraka Bank Pakistan Limited). Investor deposits funds in bank, which is then allocated in
the deposit pool. Deposit pool consists of financing from Islamic permitted investment and risk
free short term projects. Income is then shared between investor and bank based on
predetermined profit sharing ratio declared at the beginning of month.

Features of ABPL Saving Account

ABPL Saving account can be opened with the minimum amount of Re. 1000/- only.
There is no balance requirement and bank does not charge penalty for low balances.
 One can open current account in Pakistani Rupee, United States Dollar, British Pound,
EURO and Arab Emirates Dirham.
Bank pays Profit on ABPL Saving account every month
There are Unlimited deposits and withdrawal
III. ABPL TERM DEPOSIT

In compliance with Shariah principles, Islamic Term Deposits are payable on term maturity date.
The ABPL Term Deposit is based on the Islamic concept of Mudarabah. Under this
arrangement, the customer is Rab-ul-maal (Investor) and the bank is Mudarib (Fund manager).
Bank invests deposited money profitable business ventures, which are legal, and Shariah
compliant and the profit/loss is shared in a pre-determined ratio. ITD can be opened in both
Pakistani rupees and foreign currency.

Features of ABPL Term Deposit

ABPL Term Deposit can be opened with the Minimum initial Investment of Re. 25,000/-
Minimum account to open account in foreign currency is 100$ or its equivalent.
ABPL Term Deposit can be opened in Pakistani Rupee, United States Dollar, British
Pound, EURO and Arab Emirates Dirham
ABPL Term Deposit can be open for the tenures of 1 month, 3 months, 6 months, year, 2
year, 3 year and 5 years.
ABPL term deposit in foreign currency may be open for the period of 1 month, 3 months
and 6 months.
Profit may be allocated quarterly, bi-annually, annually or on maturity.
IV. ABPL MAHANA AMADANI

ABPL Mahana Amadani is the account for those people who are interested in monthly profit
return. This account can be opened with the minimum investment or Savings of Re. 50,000. The
ABPL Mahana Amadani Term Deposit is also based on the Islamic concept of Mudarabah.
Under this arrangement, the customer is Rab-ul-maal (Investor) and the bank is Mudarib (Fund
manager). Al Baraka Bank (Pakistan) Limited invests money deposited in ABPL Mahana
Amadani account at profitable business ventures which are legal and Shariah compliant, and the
profit or loss will be shared in a pre determined ratio.
Features of ABPL Mahana Amadani

In ABPL Mahana Amadani account profit is calculated on monthly basis.

Bank transfers profit in account on monthly basis.
This account can be opened in Pakistani rupee only.
Tenure for ABPL Mahana Amadani is 1 Year to 5 Years.
V. ABPL KHAZANA ACCOUNT

ABPL Khazana account is suitable for the people who are serious about savings and are looking
for higher profits. Based on the Islamic concept of Mudarabah account holder is Rab-ul-maal
(Investor) and the bank is Mudarib (Fund manager). Deposited amount is invested in profitable
business ventures, which are legal, and Shariah compliant and the profit/loss will be shared in a
pre-determined ratio. In this account, profit is calculated on daily and distributed on a monthly
basis.

Features of ABPL Khazana Account

ABPL Khazana account can be opened with the minimum initial investment of Re.
100,000/-
ABPL Khazana account can be opened only in Pakistani rupees.
There are no restrictions on account holder for deposits and withdrawals.
Profit is calculated on daily basis.
Profit will be paid every month.
VI. AL BARAKA BUSINESS PLUS

‘Al Baraka Business Plus’ account is the premium choice for business where Nominal profit is
calculated on monthly average balance. Account holder have to maintain Re. 100,000/- only. The
Al Baraka Business Plus is based on the Islamic concept of Mudarabah. Shariah advisor has
approved the terms and conditions of Al Baraka Business Plus account.
Free Services:

Al Baraka Bank (Pakistan) Limited provides following free services to account holder of Al
Baraka Business Plus account:

Cheque Books
ATM Card
Pay Orders
Duplicate Bank Account Statements
Hold mail Facility
Online Banking Transactions
e-Statement
Intercity clearing
SMS Banking

VII. ATM NETWORK

Al-Baraka Islamic Bank also provides the facilities of ATM card. Customers now have the
convenience of withdrawing cash from any of multiple ATMs ("All-Time Banking" locations)
conveniently located at any time of the day or night even on closed days/holidays. Other services
include customer being able to inquire about the AIB balance of his/her account or printing a
mini statement showing the most recent five transactions up to the previous working day.

Features of ATM Card

Al Baraka Bank (Pakistan) Limited issues first ATM card free of cost.
Only one ATM card is issued on one CNIC.
Bank issues ATM card for joint account if operating instructions of account are singly/
either/ survivor.
ABPL customers can withdraw amount up to Re. 40,000 through ATM in a day.
Per transaction limit through ATM card for ABPL customers is Re. 20,000.
ATM card is issued only to account holders maintaining current or saving account in
Pakistani currency.
3.3) PLACE

HEAD OFFICE:

Al Baraka House
162 Bangalore Town, Main Shahrah-e-Faisal
Karachi, Pakistan
PABX: +92. (21).3431.5851

Branches of Al Baraka Bank (Pakistan) Limited in all over the Pakistan are divided into three
main categories.

I. Central region
II. North region
III. South region

30 Sep 2018 31 Dec 2017 Growth

Deposits Rs.103.7 Bn 98.6 bn 5% Inc
Financing Rs.72.7 Bn 71.2bn 2% Inc
Investment Rs. 21.3 Bn 19.4 Bn 10% inc
Total Assets 123.2 Bn 120.7 2% Inc
Equity 10.3 Bn 10.6 Bn 3% Dec

NPL: 738 Million

Income: In profit and loss account, the net spread earned by the Bank increased significantly by
12% over corresponding period last year and was recorded at Rs 3,053 million as compared to
Rs 2,735 million in the corresponding period last year.
 1. Deposit Accounts:
Al Baraka Halal Manafa Account
Asaan Account:

Al Baraka Asaan Account has been launched for the potential customers who hesitate to open an
account in a bank due to excessive paper work and documentation. For such masses ABPL has
launched Al Baraka Asaan Account to provide the ease of opening a bank account without the
hassle of excessive documentation. With Al Baraka Asaan Account, ABPL aims to provide
banking facilities to the certain segment of the society, who have not been catered to their
financial needs as they should be. All you need to do is fill a single page Account Opening Form
and submit with a minimum initial deposit of Rs. 100/-. Account Opening has never been so
easy.

Salient Features

 The account may be opened as both Current and Saving Account. The current account and
saving account are based on the Islamic modes of Qard and Mudaraba.
 In case of saving account, the profit calculation method is Monthly Average Balance and
profit payment frequency is Half-Yearly as per prevailing practice for general saving
account.
 Only Resident Pakistani Individuals can open these accounts.
 The account will only be opened in PKR as single or joint accounts.
 The preferred withdrawal mode is card. However; cheque book may be issued as per the
choice of customers.
 These accounts shall be opened with minimum of Rs. 100 as initial deposit.
 There shall be no minimum balance requirement on these accounts.
 Total Debit per Month: Rs. 500,000
 Total Credit Balance Limit: Rs. 500,000
 Simplified Due Diligence. (As mentioned below)
 Simplified one pager Account Opening Form with terms and conditions overleaf.
 Issuance of Statement of Account on Customer’s demand in addition to SBP requirements. In
addition, on customer’s request, mini statements or detailed account statements may also be
available through surface mail or electronic channels.
 Conversion Facility from Basic Banking Account (BBA)
 Only Declaration of source of income is required.
 Other facilities may be provided i.e. SMS alerts, internet banking etc.

Al Baraka Basic Banking Account

Al Baraka Current Account
Al Baraka Savings Account
Al Baraka Khazana Account
Al Baraka Term Deposit
Al Baraka Mahana Amadani
Al Baraka Business Plus
Al Baraka Senior Citizens Account
Al Baraka Mahana Barkah Account

2. Asset Product

Consumer Finance:

ABPL Auto Ijarah

Al Bait Home Finance
Rahnuma Travel Services
Sarparast Family Takaful Plan