ALBARAKA BANK PRODUCTS

1. Topic: Al Baraka bank products
PRESENTER
FAHIM ULLAH CHITRALI
PROGRAM :MBA(3.5)
UOP

2. History
 Al Baraka Bank (Pakistan) Limited (ABPL) is the result of a merger between
Al Baraka Islamic Bank Pakistan (AIBP), the branch operations of Al Baraka
Islamic Bank (AIB) Bahrain and Emirates Global Islamic Bank (Pakistan).
 The merged entity commenced operations on October 30th 2010. This
growth was further catalyzed in November, 2016 when Burj Bank Limited’s
operations were merged into ABPL; making the Bank one of the leaders in the
Islamic Banking sphere of the country.
With assets in excess of Rs. 113 billion; a workforce of over 2500
professionals and a network of around 185 branches in 100 cities and towns
across Pakistan
Al Baraka Bank (Pakistan) Limited, offers a wide array of Islamic financing
products such as Murabaha, Ijarah, Musharakah and Islamic Export
Refinance etc.

3. Shariah board
Shaikh Esam Mohammad Ishaq Abdul Rahman Ishaq Chairman Shariah Board
Mufti Bilal Ahmed Qazi Member Shariah Board
Mufti Abdullah Najeeb Ul Haq Siddiqui Resident Shariah Board Member

4. Albaraka bank products

5. Al Baraka Mahana Amadani
 Are you interested in monthly profit returns? Then why not go for our
Mahana Amadani which gives you competitive profit earnings on
your savings.
 With a minimum investment/ savings of Rs. 50,000, you can enjoy
monthly returns.
 Salient Features
 Profit Calculation: Monthly
 Profit payment options: Monthly
 Available in Pak Rupee
 Tenure: 1 Year to 5 Years
 Free ATM/ Debit card with unlimited access through ATMs
nationwide.
 Additional benefits such as e-Statement, 24/7 Phone Banking, SMS
Banking

6. Islamic Concept
Al Baraka Mahana Amadani is based on the Islamic concept of Mudarabah.
Under this arrangement the customer is Rab-ul-Maal (Investor) and the bank
is Mudarib (Fund Manager). Customer deposit is invested in profitable
business ventures which are legal and Shariah compliant. The profit/loss is
shared on a pre determined ratios.
Eligibility criteria
Individuals (18 years & above)
Sole Proprietor
Partnerships
Companies
Clubs / Societies / Associations / Trusts

7. Al Baraka Senior Citizens Account
 Al Baraka Senior Citizens Account is developed to empower senior citizens to
independently carry out the day- to- day banking transactions with confidence.
This account is suitable for senior citizens who wish to have healthy returns on
their savings. Al Baraka Senior Citizens Account comes along with a wide
range of free services and benefits.
 Features and Privileges
 Available in Local Currency only
 Profit calculations on daily balance and credited in the account on monthly
basis.
 No minimum or maximum balance requirement.
 Unlimited deposits and withdrawals.
 Projected higher returns on maintaining the balance of PKR 250,000 in the
account, otherwise normal savings rate will be applicable.
 We have included a bundle of value added services which you can enjoy
free of cost with the Senior Citizen Account.

8. Value added services i.e. Al Baraka Union Pay Debit Card, Phone Banking, SMS
Banking, e- statements, Duplicate Account statements are offered free of cost.
Complimentary first cheque book of 25 leaves.
Concessional rates on annual locker rentals and Pay Order.
Mudarabah
Al Baraka Senior Citizens Account is offered on the basis of Mudarabah principles of
Islamic Banking. Mudarabah is a special kind of partnership where one partner gives money
to another for investing in Shariah compliant avenues. The investment comes from the first
partner who is called Rabb-ul-mal (Customer), while the management and work is an
exclusive responsibility of the other, who is called Mudarib (Bank).

9. Al Baraka Halal Manafa Account
 With Al Baraka Halal Munafa Account enjoy the comfort of pure
profits while fulfilling all your financial needs. Al Baraka Halal
Munafa account provides profit based on 100% Shariah rulings.
 It is a unique saving account that provides higher expected
monthly returns with the flexibility to withdraw savings if needed.
 Al Baraka Halal Munafa provides regular stream of monthly
income with the same convenience and service of a regular
savings account. Through this, our valued customer can manage
their short-term as well as long term savings without any
transactional restrictions.
 Salient Features
 Minimum investment required to open an account is Rs. 50,000/-
 There is no minimum balance requirement but for profit eligibility,
different ranges will be applicable.
 This is ideal for all categories of clients:
 Entrepreneurs/Sole proprietors

10.  Partnerships
 Limited Companies
 Clubs/Societies/ Associations/Trusts
 Maximum balance limit (threshold) for getting a higher profit weightage is Rs.
50,000,000/ –
 A lower weightage will be applicable for profit calculation if the daily closing
balance of the account exceeds a specified threshold (currently Rs.
50,000,000/-) and lower then specified minimum limit (currently RS.500,000/ – )
 Free eStatement
 Free online banking services at all ABPL branches.
 Profit will be calculated on the daily product basis while profit payment is
made on a monthly basis.
 Free first issuance of Debit Card.
 All other charges as per Bank’s Schedule of Charges.
 Al Baraka Halal Munafa is offered on the basis of Mudarabah principles of
Islamic Banking..

11. Al Baraka Carsaaz(Auto Finance)
 Al Baraka Carsaaz(Auto Finance) is one of the most distinct Shari’ah
compliant products offered by Al Baraka Bank (Pakistan) Limited for
personal use. It allows you to get a vehicle of your choice with comfort
and complete peace of mind. This product is ideal for individuals looking
for car financing without compromising their values and beliefs. Al
Baraka Carsaaz is designed to cater to all your needs regarding the
purchase of a brand new, used or an imported vehicle for your personal
use. Now you can steer yourself onto the right path effortlessly.
 Product Features
 Shari’ah compliant.
 Transaction Mode is Diminishing Musharakah.
 Quick processing.
 Most affordable Installments.

12.  No upfront Installments before delivery of the vehicle.
 Payable in tenure of 12 to 84 months.
 Minimum processing charges.
Eligibility Criteria –
 Minimum working experience of 2 years in continuity with at least 6 months
with the current employer.
 Minimum net monthly income of Rs. 30,000/-
 Age between 22 to 62 years (62 years of age at the time of maturity of facility).

13. Al Bait Home Finance
 Al Baraka Al Bait Home Finance Offers
 Al Baraka Al Bait Home Finance, is the solution to your home financing
needs. You can own your dream home, renovate and even construct one.
Our Shariah compliant Al Baraka Al Bait Home Finance provides you the
following options:
 Purchase of House – Outright Purchase
 Land + Construction
 Construction
 Home Improvement/ Renovation

14. Key Features
 Minimum Financing amount – Rs. 0.3 million
 Maximum Financing – up to Rs. 35 million
 Financing up to 80% of property value
 Minimum Monthly Net take home Rs 50,000/- (for salaried)
 Minimum Monthly Net take home Rs 80,000/- (for SEP/SEB)
 Quick processing time
 Affordable monthly payment

15. Asaan Account
 Al Baraka Asaan Account has been launched for the potential customers who
hesitate to open an account in a bank due to excessive paper work and
documentation. For such masses ABPL has launched Al Baraka Asaan
Account to provide the ease of opening a bank account without the hassle of
excessive documentation. With Al Baraka Asaan Account, ABPL aims to
provide banking facilities to the certain segment of the society, who have not
been catered to their financial needs as they should be. All you need to do is
fill a single page Account Opening Form and submit with a minimum initial
deposit of Rs. 100/-. Account Opening has never been so easy.
Salient Features
 The account may be opened as both Current and Saving Account. The
current account and saving account are based on the Islamic modes .
 In case of saving account, the profit calculation method is Monthly Average
Balance and profit payment frequency is Half-Yearly as per prevailing
practice for saving account.
 Only Resident Pakistani Individuals can open these accounts.

16.  The account will only be opened in PKR as single or joint accounts.
 The preferred withdrawal mode is card. However; cheque book may be issued
as per the choice of customers.
 These accounts shall be opened with minimum of Rs. 100 as initial deposit
There shall be no minimum balance requirement on these accounts.
 Total Debit per Month: Rs. 500,000
 Total Credit Balance Limit: Rs. 500,000
 Simplified Due Diligence. (As mentioned below)
 Simplified one pager Account Opening Form with terms and conditions
overleaf.
 Issuance of Statement of Account on Customer’s demand in addition to SBP
requirements. In addition, on customer’s request, mini statements or detailed
account statements may also be available through surface mail or electronic
channels.
 Conversion Facility from Basic Banking Account (BBA)
 Only Declaration of source of income is required.
 Other facilities may be provided i.e. SMS alerts, internet banking etc

17. Al Baraka Khazana Account
 Are you looking for higher profits? If ‘yes’ then this account is for
you, where profit is calculated on average monthly balance product
basis and distributed on a monthly/quarterly basis.
 Salient Features
 Minimum initial investment of Rs. 100,000/-
 Available only in Pak Rupees
 Tiered profit structured
 Unlimited deposits and withdrawals
 Profit is paid on monthly/quarterly basis and calculated on a average
monthly balance product basis
 Enjoy higher profits on higher balances
 Additional benefits such as e-Statement, 24/7 Phone Banking, SMS
Banking, ATM/Debit Card

18. Islamic Concept
Al Baraka Khazana account is based on the Islamic concept of Mudarabah. Under
this arrangement the customer is Rab-ul-Maal (Investor) and the bank is Mudarib
(Fund Manager). Customer deposit is invested in profitable business ventures which
are legal and Shariah compliant. The profit/loss is shared on a pre determined
ratios. As Fund Manager, the bank is entitled to a part of the profit, whereas profit
distribution amongst the depositors and shareholders is made according to the
weightages assigned to their investment at the beginning of each month.
Eligibility criteria
• Individuals (18 years & above)
• Sole Proprietor
• Partnerships

19. Al Baraka Savings Account
 Al Baraka Savings Account comprises of all facets of an investment i.e.
income, security and growth. It has been developed to suit the
requirements of individuals and business entities.
 Salient Features
 Available in PKR and other major currencies like USD, GBP, EURO &
AED
 Free from any minimum balance charges
 Profit is calculated on monthly and bi-annually basis
 Profit will be paid every month
 Unlimited deposits and withdrawals
 Enjoy higher profits on higher balances
 Free ATM card with unlimited access to ATM Network, nationwide
 Additional benefits such as e-Statement, 24/7 Phone Banking, SMS
Banking

20. Islamic Concept
Al Baraka saving account is based on the Islamic concept of Mudarabah. Under this
arrangement the customer is Rab-ul-Maal (Investor) and the bank is Mudarib (Fund
Manager). Customer deposit is invested in profitable business ventures which are legal
and Shariah compliant. The profit/loss is shared on a pre determined ratios. As Fund
Manager, the bank is entitled to a part of the profit, whereas profit distribution amongst
the depositors and shareholders is made according to the weightages assigned to their
investment at the beginning of each month.
Eligibility criteria
• Individuals (18years & above)
• Sole Proprietor
• Partnerships
• Companies

21. Al Baraka Current Account
 Al Baraka account has been developed to help/assist you in with your
day to day business and personal banking needs with convenience
and reliability.
 Salient Features
 Available in PKR and other major Foreign Currencies like USD, GBP,
EURO & AED
 Free from any minimum balance charges
 Unlimited deposits and withdrawals
 Free ATM card with unlimited access to all ATMs, nationwide.
 Additional benefits such as e-Statement, 24/7 Phone Banking, SMS
Banking

22. Islamic Concept
Al Baraka Current Account is based on the Islamic principle of Qarz, whereby the
customer is the lender and the bank is the borrower. Customer funds are invested
with utmost care in halal business ventures only, and are payable, on demand, with
neither any addition nor penalty.
Eligibility criteria
Individuals (18 years & above)
Sole Proprietor
Partnerships
Companies
Clubs / Societies / Associations / Trusts

23. Personal opinion
The best product we have realized is Al Baraka mahana amdani.
Because it offers return on monthly basis. Morever you can invest and
receive return in pak rupee.It is best for those people who are seeking
for short term investment because it has a tenure of 1 to 5 years,
Furthermore it offers free ATM/ Debit card with unlimited access
through ATMs nationwide.
Additional benefits such as e-Statement, 24/7 Phone Banking, SMS
Banking
It has also got flexible eligibility criteria for all kind of businsses such
soleproprietorship,partnership,joint stock company and clubs/societies.