Update Date: 21-May-2014
Al Baraka Banking Group (ABG)
Al Baraka Banking Group is a Bahrain based Joint Stock Company listed on Bahrain
and NASDAQ Dubai stock exchanges. ABG offers retail, corporate / investment
banking and treasury services strictly in accordance with the principles of
Islamic Shari’a. The total equity amounts to over US$1.9 billion and total
assets over US$ 21 billion.
The Group has a wide geographical presence with subsidiary banking Units and
Representative Offices in thirteen countries, which in turn provide services
through more than 480 branches.
The concept of ABG’S Unified Corporate Identity is the result of revisiting the
values that lay behind the original Vision statement - and the conviction that
those values ought to be represented as an integral part of ABG’s Vision. The
outcome is that ABG’s Vision has now been restated as their corporate ethos.
According to ABG:
‘We believe society needs a fair and equitable financial system’, ‘To meet the
financial needs of communities across the world by conducting business ethically
in accordance with our beliefs, practicing the highest professional standards
and sharing the mutual benefits with the customers, staff and shareholders who
participate in our business success’.
By ‘partnership’, our success and that of each of our customers are as
intertwined as our jointly held beliefs. Taking part in the joint effort is
therefore our reward. We see money as a means to Capitalize on opportunities and
create a better society for all of us. Money becomes the conduit by which we
enter into new opportunities together and take part in common effort for mutual
reward; as steward of the resources entrusted to us, our efforts contribute to
building the community, at home and in the wider world. We call this concept:
Al Baraka Bank (Pakistan) Limited (ABPL)
With a vision for unrivalled services, dedication to Islamic principles of
banking, increasing network points, and innovative product line, Al Baraka Bank
(Pakistan) Limited (ABPL) is committed to the Banking Industry in Pakistan.
Al Baraka Bank (Pakistan) Limited is the result of a merger between Al Baraka
Islamic Bank Pakistan and Emirates Global Islamic Bank. The merged entity
commenced operations on November 1st 2010.
The merger, a first in the Islamic Banking sector in Pakistan, positions ABPL to
play an important role in further growing an industry which has witnessed
tremendous growth over the last 4 years.
With assets in excess of Rs. 85 billion; a workforce of 1400 professionals and a
network of 110 branches in 58 cities and towns across Pakistan, ABPL is devoted
in providing customers with a range of Shari’a compliant products to suit their
Faced with growing challenges in this rapidly developing market, ABPL strongly
relies on its ability to be an effective and efficient market player through
renewed focus on superior customer service, development of Islamic alternatives
to conventional financing facilities, and strict adherence to Shari’a rulings
ABPL, offers a wide array of Islamic financing products such as Murabaha, Ijarah,
Musharakah, Business Plus Account, Islamic Export Refinance etc., catering to a
diverse cross-section of the economy including the Corporate, SME and Consumer
Moreover, various Shari’a compliant deposit schemes are also available for
customers to invest their funds in, along with a variety of other ancillary
services such as online branch banking, ATM/debit card, SMS banking, electronic
statement of accounts, safe deposit lockers and utility bill payments.
The Pakistan Credit Rating Agency (PACRA) has assigned long-term and short-term
rating entity A, and A1 respectively. These ratings denote a lower expectation
of credit risk emanating from a strong capacity for timely payments of financial
Shariah Compliant Product & Services:
It is our commitment to put our customers’ values foremost, hence providing
them with the banking solutions that are in line with their beliefs.
ABPL products and services are approved by the Bank's Shariah Advisor Justice
(R) Khalil-ur-Rehman Khan, who has served as Chairman on the Shariat Appellate
Bench of the Supreme Court of Pakistan and has been the Rector of the
International Islamic University, Islamabad. He is assisted by Mufti Abdullah
Najeeb as deputy Shariah Advisor.
Update Date: 10-Apr-2014
Mr. Shafqaat Ahmed
Chief Executive Officer
Bank Pakistan Limited
Al Baraka Bank (Pakistan) Limited, CEO, Mr. Shafqaat Ahmed possesses over
42 years of rich banking experience both within Pakistan and in the
Mr. Shafqaat Ahmed was instrumental in overseeing the merger of Al Baraka
Islamic Bank and Emirates Global Islamic Bank Operations in Pakistan to form Al
Baraka Bank (Pakistan) Limited. Mr. Ahmed is a graduate of Foreman Christian
College, Lahore with Majors in Economics. He has served as the Vice Chairman of
the Pakistan Banks Association and is a fellow of the Institute of Bankers in
Pakistan. His expertise in Corporate Finance, Capital Markets and Portfolio
Management has taken the bank to the next level.
“Islamic Banking” in Pakistan is a recent Phenomenon, but with Al Baraka under
the leadership of Mr. Shafqaat Ahmed, Islamic banking has been its forte since
the inception of the name of Al Baraka in Pakistan
,21 years back. Mr. Ahmed has addressed a number of Islamic seminars and
Mr. Shafqaat Ahmed is married and his children too are serving the banking
sector. Mr. Ahmed has a passion for cricket and enjoys Golf and travelling.
Justice (R) Khalil Ur Rehman
Head Public Sector & Institutional
Group Head Commercial & SME Banking Group
Group Head Retail Banking
Group Head Corporate & Investment Banking
Head of Investment Banking
Head of Strategic Planning & Marketing
Head of Financial Institutions
Head of Credit Administration
Head of Information Technology
Head of Special Asset Management
Chief Security Officer & Head of