Al Baraka Bank d’Algerie

Al Baraka Bank d’Algerie

Banque Al Baraka D’Algerie was incorporated in May 1991 as the first Islamic Bank and operates under a commercial banking license issued by the Bank of Algeria. The main activities of the bank are retail and commercial banking. The Bank operates 30 branches.


Banque Al Baraka D’Algerie S.P.A. provides retail and commercial banking services in Algeria. The company offers islamic banking and financial services such as deposits, including Takaful, Umrah savings, and youth savings accounts; and loan products. It operates 20 branches. The company was incorporated in 1991 and is based in Ben Algiers, Algeria. Banque Al Baraka D’Algerie S.P.A. operates as a subsidiary of Al Baraka Banking Group B.S.C.

Our mission 

Respond to the financial needs of communities around the world through business ethics, according to our faith, implement the highest professional standards, and share the benefits with customers, staff and shareholders who all contribute to our success.

Our vision 

We believe that society needs an ethical and equitable financial system: a system that rewards efforts and contributes to community development.

Our values

  • Partnership
    Our shared belief: create strong relationships and lasting relationships with customers and staff.
  • Perseverance 
    We have the energy and perseverance to improve the lives of our customers for the benefit of society.
  • Proximity
    We value and respect the communities we serve. Our doors are always open, our customers will appreciate our hospitality, and the warmth of our welcome.
  • Quietness 
    Our customers can be sure that their business is managed by us according to the highest ethical standards.
  • Social contribution
    By appealing to us, our customers contribute positively to a better society; their growth and our benefit the world around us.

First mixed capital institution (public and private). The Al Baraka Bank of Algeria was created on May 20, 1991, with a capital of 500,000,000 DA, it began its actual banking activities during the month of September 1991.    

Its shareholders are the Bank of Agriculture and Rural Development of Algeria (BADR) and the ABG Group.

Governed by the provisions of Law n ° 03-11 of August 26, 2003 relating to Money and Credit, Bank Al Baraka of Algeria is authorized to carry out all banking, financing and investment operations, in accordance with the principles of Islamic Sharia .

Active and proactive, since its creation Banque Al Baraka d’Algérie has continued to evolve and diversify its activities with the sole aim of meeting the direct and latent needs of all of its stakeholders:

  • 1991: Creation of the Bank Al Baraka of Algeria.
  • 1994: Financial stability and balance of the Bank.
  • 1999: Participation in the creation of the insurance company Al Baraka Oua al Amane.
  • 2000: Ranking first among banking establishments with private capital.
  • 2002: Redeployment of the Bank on new market segments, in this case those of professionals and individuals.
  • 2003: Creation of the promotion subsidiary “Dar al Baraka” with a share capital of 1,550,000,000 DA
  • 2006: Increase in the bank’s capital to 2,500,000,000 DA
  • 2009: Second capital increase of the bank to 10,000,000,000 DA
  • 2015: Creation of the Institute for Research and Training in Islamic Funding (IRFI).
  • 2015: Creation of the subsidiary “SATEC IMMO” with a share capital of 15,000,000 DA

OUR CONTACT

Mr. Mohamed Seddik Hafid
Board Member & General Manager


Hai Bouteldja Houidef, Villa No.1,
Rocade Sud, Ben Aknoun,
Algiers,
Algeria
TEL: +213 23 38 12 73
FAX:+213 23 38 12 76/ 77
https://www.albaraka-bank.com/