Albaraka Bank

Albaraka Bank

Al Baraka Bank was established in South Africa in 1989 and provides communities across the country with a practical and sustainable alternative option to conventional banking models.


The bank’s Shariah-compliant products and services are proving ever more appealing to Muslim and non-Muslim clients alike.

Following a faith-based system of financial management, the bank’s guiding principles are drawn from Shariah, which upholds the ideal of profit-sharing, while prohibiting the payment or receiving of interest in any transaction.


Intent on maintaining personal contact with its clients, the bank remains committed to living the moral value of ‘partnership,’ striving always to establish and nurture long-term relationships with clients, thus enabling it to cultivate close and meaningful dealings and exchanges to the mutual benefit of both client and bank.

Based in Durban, Al Baraka Bank has a national business footprint, with seven retail branches, three corporate banking offices, a professional office and a regional office, affording its clients an array of financial products and services, as a commercial and fully-fledged Islamic banking institution.

As at 31 December 2018, Al Baraka Bank’s primary shareholders included Bahrain-based Al Baraka Banking Group B.S.C. (64,51%), DCD Holdings (SA) (Pty) Ltd. (6,01%), DCD London and Mutual plc (6,60%), Johannesburg-based Timewest Investments (Pty) Ltd. (7,67%), Sedfin (Pty) Ltd. (3,33%) and Al Bogari (2,0%). Foreign and local shareholders constitute the balance.

The bank’s board of directors is composed of both international and local business people, all having excellent individual business skills and outstanding collective knowledge of and expertise and experience in Islamic banking.

The bank also has in place both an internal Shariah Department and an independent Shariah Supervisory Board, whose roles are to ensure the bank’s compliance with Shariah in all of its day-to-day business activities. In addition, Al Baraka Bank is a member of the authoritative international Accounting and Auditing Organisation for Islamic Financial Institutions.

Against this background, the bank’s financial products are reviewed and audited on a regular basis, thus ensuring the ongoing maintenance of and adherence to absolute Shariah compliance.

The Al Baraka Banking Group has steadily increased its shareholding in its South African subsidiary, with the local business unit growing to become an integral part of the international group.

Drawing on such international pedigree, Al Baraka Bank has developed an enviable reputation as a highly professional, effective and efficient financial services provider; one with the capacity to operate at the very cutting-edge of Islamic banking in South Africa.


The bank continues to enjoy an exceptional growth trajectory and is today an important contributor towards the meeting and beating of some of this country’s most daunting socio-economic challenges; the result of its unwavering commitment to a range of Corporate Social Investment initiatives in three principal sectors, namely education, health, and welfare.


Contact Details

Jordan Islamic Bank
Mr. Musa Shihadeh
Vice Chairman & CEO
P.O. Box 926225,
Amman 11190,
Tel: +9626 567 7377
Fax: +9626 566 6326

Banque Al Baraka D’Algerie S.P.A
Mr. Mohammed Seddik Hafid
Board Member & General Manager
Hai Bouteldja Houidef, Villa No.1
Rocade Sud, Ben Aknoun, Algiers,
Tel: +213 23 38 12 76 to 77
Fax: +213 23 38 12 73 

Al Baraka Banking Group Indonesia (Representative Office) 
Ms. Nurul Bariah
Chief Representative
Ravindo Building,
10th Floor, Jalan Kebon
Sirih No. 75, Jakarta
Pusat 10340, Indonesia
Tel: +62 21 316 1345
Fax: +62 21 316 1074

Al Baraka Bank Limited
Mr. Shabir Chohan
Board Member & CEO
2 Kingsmead Boulevard, 
Kingsmead Office Park,
Stalwart Simelane Street
P.O.Box 4395,
Durban 4000, 
South Africa
Tel: +2731 364 9000
Fax: +2731 364 9001 

Al Baraka Bank (Pakistan) Limited
Mr. Shafqaat Ahmed
Board Member & CEO
Al Baraka House
162, Bangalore Town,
Main Shahrah-e-Faisal,
Tel: +92 21 34307000
Fax: +92 21 34530981

Al Baraka Bank Sudan
Mr. Abdullah Khairy Hamid 
General Manager 
Al Baraka Tower,
P.O. Box 3583, Khartoum, Sudan
Tel: +249187 112 140 – +249187 112 143
Fax: +249183 788 585

Al Baraka Islamic Bank B.S.C (c)
Mr. Mohamed Isa Mutaweh
Board Member & CEO
Group Headquarters – Bahrain Bay,
P.O. Box 1882,
Kingdom of Bahrain
Tel: +973 17 535 300
Fax: +97317 533 993

Al Baraka Bank Syria s.a.
Mr. Mohammed Halabi
Chief Executive Officer
AlShahabnder Street,
P. O. Box 100,
Tel: +96311 443 78 20
Fax: +96311 443 78 10

Al Baraka Turk Participation Bank
Mr. Meliksah UtkuGeneral Manager 
Saray Mahallesi
Dr. Adnan Buyukdeniz Caddesi No.6
34768 Umraniye, Istanbul, Turkey
Tel: +90 216 666 01 01
Fax: +90 216 666 16 00

Al Baraka Bank Lebanon S.A.L.
Mr. Mutasim Mahmassani
Board Member & General Manager
Justinian Street
BAC Center, 12th floor
Sanayeh, near Chamber of Com & Inds.
Tel: +9611 748061 to 65
Fax: +9611 748061 to 65 Ext: 700

Al Baraka Bank Tunisia 
Mr. Fraj Zaag
Board Member & General Manager
88, Avenue Hedi Chaker 1002
Tel: +216 71 186 500/ +216 71 186 585
Fax: +216 71 780 235/ +216 71 908 170

Al Baraka Bank Egypt
Mr. Ashraf Al Ghamrawi 
Vice Chairman & CEO
60, Mohie Elddin Abu Elezz Street
P.O. Box 455 Dokki, Giza, Egypt 
Tel: +2023 748 1222
Fax: +2023 761 1436/7

  Al Baraka Banking Group Libya
   (Representative Office)
   Mr. Mohamed WlKhazmi
   Chief Representative
   Trepoli Tower, Tower1 
   14th Floor, Office No.144
   P.O. Box 93271,
   Tripoli, Libya
   Tel: +218 (21) 336 2310
          +218 (21) 336 2311
   Fax: +218 (21) 336 2312
   Email: [email protected]
             Itqan Capital   
              Mr. Abdulla Farid Shaker
              Managing Director & CEO
              Elite Al Shatea, Al Malik Road,
              P.O Box 8021
              Jeddah 21482,
              Kingdom of Saudi Arabia
              Tel: +966 12 510 6030
              Fax: +966 12 510 6033