Al Baraka Bank Pakistan

Al Baraka (Pakistan) Limited (ABPL) (البراکہ بینک پاکستان) is a Pakistani Islamic bank headquartered in Karachi. It is a subsidiary of the Al Baraka Banking Group, a Bahrain-based Islamic banking group.

It came into being as a result of the first merger in the Islamic Banking sector of Pakistan. The merger took place between the branch operations of Al Baraka Islamic Bank (AIB) Bahrain, Al Baraka Islamic Bank Pakistan (AIBP) and Emirates Global Islamic Bank (Pakistan), and thus from 1st November 2010, the operations of the merged entity began. The second merger took place in 2016 with Burj Bank Ltd. As of September 2016, the Bank has a national presence in Pakistan with a network of 191 branches in more than 97 cities across the country.

History
Al Baraka Islamic Bank was initially established in Pakistan in 1991 as Al Baraka Islamic Bank (AIB) Bahrain, and later incorporated as a public limited company in December 2004, receiving its Islamic banking license in 2007.

In October 2010, Al Baraka Bank (Pakistan) merged with Emirates Global Islamic Bank (Pakistan), with the latter being rebranded as Al Baraka Bank (Pakistan) Limited.

Credit Rating
Long Term, Credit Rating of Al Baraka (Pakistan) Ltd, is June 26, 2020, maintained at A [Triple A] and Short-Term Credit Rating of the bank is maintained at A1 [A one] by Pakistan Credit Rating Agency (PACRA).

Awards and recognition

 * Al Baraka was named the 'Best regional Bank' at the Annual Islamic Business and Finance Awards Ceremony, Dubai (26 December 2010)
 * ABG won the Compliance and Corporate Governance Award at the Hawkamah Union of Arab Banks 2010 (1 November 2010)