Al Baraka Bank

ABG head office

Al Baraka Bank Limited is the only fully-fledged Islamic bank in South Africa. It was established in 1989 and operates as a subsidiary of the Bahrain-based Al Baraka Banking Group (ABG), one of the world’s largest Islamic financial institutions with more US$25 billion in assets and about 600 branches in 15 countries. Al Baraka Bank offers a wide range of Islamic banking products and services including participation accounts, corporate saver accounts, monthly investment plans, haj investment schemes, tax-free investment, Shariah compliant unit trust funds as well as trade finance, asset-based finance, motor vehicle finance, property finance, foreign exchange, international banking, electronic and transactional banking, internet banking, online statements, cheque book facility and more. At the end of June 30, 2017, the Bank had R5.609 billion (US$0.4 billion) in total assets and R4.834 billion in customer deposits.

Al Baraka Bank’s primary shareholders:
Al Baraka Banking Group B.S.C. (64,5%)
DCD Holdings (SA) (Pty) Ltd. (6,0%)
DCD London and Mutual plc (6,6%)
Timewest Investments (Pty) Ltd. (7,7%)
Sedfin (Pty) Ltd. (3,3%)

Head office address:
2 Kingsmead Boulevard, Kingsmead Office Park
Stalwart Simelane Street
Durban 4001, South Africa
Phone number: +27 31 364 9000
Fax: +27 31 364 9001
Website: www.albaraka.co.za