Al Baraka Bank Limited was established in 1989 and its activities are directed mainly at the 2% of Muslims in the population of South Africa. It has 135 employees covering its Durban head office and four branches in Durban, Johannesburg, Pretoria and Cape Town. The bank collects deposits and provides financial facilities – trade, asset based motor vehicle and property finance - mainly through murabaha and musharaka - to its customers.
Mr. Shabir Chohan Chief Executive Officer AlBaraka Bank Ltd. 1st Floor, 134, Commercial Road Durban, South Africa Tel: +2731 366 2800 Fax: +2731 305 2631 Website: www.albaraka.co.za
About Al Baraka
Al Baraka Islamic Bank – Bahrain (AIB - Bahrain) established 1984 in Bahrain and up the years has pioneered the development of Isl... read more>>
Individuals
Current Accounts: On demand accounts are not entitled to receive profits but do not bear any loss either. They are designed speci... read more>>
Commercial & Corporate
Murabaha is an Islamic form of asset financing and has a fixed term and a pre-determined profit. In a Murabaha the bank buys a spe... read more>>
