Albaraka Mobil
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About Albaraka

About Albaraka

As Albaraka Türk Participation Bank, we were founded in 1984 by pioneering interest-free banking in Turkey and began actively serving in 1985. Having founded under the guidance of the strong capital groups in the Middle East, Al Baraka Group B.S.C., Islamic Development Bank (IDB) and another industry group serving the Turkish economy for more than a half century, we continue operating in Turkey in compliance with the 5411 Banking Law.

As of 31.12.2023, Albaraka Group B.S.C.'s share in our shareholding structure is 45.09% and Dallah Al Baraka Holding's share is 8.3%. Our Bank's shares are traded on Borsa Istanbul.

Albaraka in Brief

  • We utilize the funds accumulated in the current and participation accounts in trade and industrial financing and share the interest-free profits with our customers.
  • We offer our customers plenty of services such as individual and corporate financing, leasing and project-based profit/loss sharing.
  • We have the vision of becoming the best regional bank in terms of offering financial products and services in the Gulf, Middle East and North Africa regions where our main shareholder Albaraka Group B.S.C. operates.
  • We provide our customers the opportunity to conduct fast, high quality and reliable foreign trade through our extensive correspondent network with nearly 1,000 banks in 80 countries from Singapore to the UK, from South Africa to Morocco, from Australia to Kazakhstan.
  • We support the financial needs of individuals and small businesses.
  • We continue to serve our customers as a global participation bank with a total of 225 branches, including 2 abroad, and 2,739 employees.

Overview of Albaraka

With more than 30 years of experience in the sector, we have succeeded in achieving healthy growth by foreseeing the great change that the Turkish economy has experienced over time with the right strategies and being the pioneer of participation banking.

  • 1984 - Establishment of Albaraka were initiated with the offer from Albaraka, which operates in non-interest banking sector.
  • 1985 – We started operating as the first private finance institution in Turkey.
  • 1988 - Financial leasing transacrions were initiated.
  • 1992 - Number of branches reached to 10 and its total assets exceeded 400 million dollars.
  • 1998 - We started to present credit card service as well after our agreement with Visa and the number of our branches reached up to 22.
  • While the number of our branches reached to 24, our total equity capital reached 70 million dollars.
  • 2007 - Public offering for 170 million dollars attracted over 7 billion dollars of demands from 24 thousand investors.
  • 2011 - First branch abroad opened in Erbil-Iraq. We achieved the largest amounted syndication credit in the sector with a usury syndication amounting to 350 million dollars. We carried out the first wakala transaction.
  • 2012 - Transformation program SIMURG was initiated in line with our vision of "To Be the Best Participation Bank in the World”
  • 2013 - The number of our domestic branches reached up to 166. We provided capital-like credit with the usury sukuk method applied for the first time in Turkey.
  • 2014 - We broke a record in banking history with 35 new branch openings and the number of our branches reached to 202.
  • 2015 - The first subordinated sukuk complying with Basel 3 criteria are issued in Turkey. Albatros, a new core banking system that shifts the Bank’s focus from operations to customers, was put into service as of June 19, 2015. The Bank’s Mobile Branch and Mobile Branch touch ID projects were completed.
  • 2016 – 4 domestic lease certificates (sukuk) in were issued for our qualified investors. Head-quarters building of Albaraka was granted LEED Gold Certificate. Albatros (New Main Banking System) project was deemed worthy of an award of “the Best Technology Utilization in Retail Banking” in “Banking Technology Awards”.
  • 2017 - The Bank’s domestic branch number increased to 220. Albaraka Garage was launched, as the first start-up accelerator in the world established by a participation bank. The Bank undersigned major projects for digitization, a strategic priority area for Albaraka. Albaraka was named “Turkey’s Best Participation Bank” by Islamic Finance News (IFN) magazine.
  • 2018 - The total number of branches reached 230. The Bank received the Best Participation Bank of the Year award at the third edition of the Adding Value to Turkey Awards organized by Turcomoney in 2018. Albaraka Mobile was enhanced with the addition of QR code, Voice Assistant and Face Recognition features. Albaraka was a standout at the WIFA 2018 Awards, collecting three prizes by ranking first in three separate categories.
  • 2019 - Albaraka Türk's mobile banking application received two separate superiority awards in the "Best User Experience" and "Experientiality & Innovation" categories in the "Mobile Applications and Sites" category at The Communicator Awards. Albaraka Türk launched Albaraka Publications in order to make more extensive publishing activities that bring many prestigious works to readers. Albaraka Türk maintained its strong capital structure by increasing its capital to TL 1,350 million. The new digital product Alneo reached more than 11,000 customers. Albaraka Türk became the first participation bank to be included in the BIST Sustainability Index in 2019 thanks to its efforts in areas such as environment, human rights and occupational health within the scope of corporate social responsibility. Albaraka Baghdad Branch started operations on March 25, 2019. AlbarakaTech Global was established on November 26, 2019 to provide the Information Technology services needed by the finance sector.
  • 2020 - The Startup Venture Capital Investment Fund, which was established by Albaraka Portföy Yönetimi A.Ş. and started its operations in May 2020, began trading in the qualified investors market with a gong ceremony held in Borsa Istanbul. In 2020, Albaraka Türk received four awards, including one silver award, from the Brandon Hall Group for its human assets practices and a Gold Stevie award for its digital education technology "Virtual Classroom Application" in the "Stevie Awards for Great Employers" award program. Insha Ventures, established by Albaraka Portföy Yönetimi A.Ş. Innovation Venture Capital Investment Fund, started its activities. A Venture Capital Investment Fund was established within Albaraka Türk to partner commercially with entrepreneurs who want to get to know the Bank. Albaraka Türk also received the CDP (Carbon Disclosure Project) Turkey 2020 Climate Leadership Award.
  • 2021 - Albaraka Türk received a grade of B- in Climate Security and B- in Water Security within the scope of the Carbon Disclosure Project thanks to its determined efforts in the field of sustainability. In 2021, Albaraka Türk broke new ground and was included in the list of "Europe's Best Employers" jointly organized by the "Great Place to Work" Institute and Economist Magazine for its fair and equitable human assets practices.
  • 2022 - Albaraka Türk announced its new organizational structure in line with its strategic goals. Aiming to become the best participation bank worldwide, Albaraka Türk provided 23% of the leasing certificates issued in the sector and this way became a participation bank that issued the highest number of leasing certificates in the field. Albaraka Türk was named as the Most Reputable Bank of the year in its category at The ONE Awards which rewards the brands and stakeholders that have increased their reputation during the year.
  • 2023 - Albaraka Türk announced its new employer brand "Biriz" with its renewed vision, mission and values. In 2023, our Bank’s profitability increased and the balance sheet became even stronger and also Our Bank's unconsolidated net profit increased by 151% comparing to the previous year.