Al Baraka Turk
Albaraka Türk, is the first 'islamic' finance institution and the pioneer in the field of interest-free banking in Turkey.
It completed its establishment in 1984 and commenced operations in the beginning of 1985. Albaraka Türk was founded by Albaraka banking Group (ABG), one of the prominent groups of the Middle East, Islamic Development Bank (IDB) and a native industrial group of Turkey, which served the Turkish economy for more than half a century. Albaraka Türk continues its operations in compliance with the Law of Banking numbered 5411.
As of 31, December 2009, the share of the foreign partners is 66,16%, the share of the native partners is 11,61% and the share open to public is 22,23% in the partnership structure of Albaraka Türk. The structure of the shareholders' equity in Albaraka Türk is the guarantee for the prestige and reliability we have.
Albaraka Türk collects funds through current accounts and participation accounts and makes the fund circulate in the economy through individual finance, corporate finance, financial leasing and profit/loss sharing based on projects...
The bank is able to provide its customers with fast, qualified and safe foreign trade (import, export and foreign exchange) thanks to a wide network of correspondent banks, comprising of over 207 banks operating in about 60 countries around the world, from Singapore to U.K., from South Africa to Morocco, from Australia to Kazakhstan.
The bank has been operating, as of the year 2009, with its 101 branches all over Turkey, 42 of which are in İstanbul and 59 of which are in the prominent industry and trade centers of Turkey, as an international participation bank that has adopted the mission of adding value to its customers, shareholders, employees and Turkey.
