Albaraka Türk

Albaraka Türk Katılım Bankası A.Ş.
Company typePublic
BİST: ALBRK
IndustryFinance and Insurance
PredecessorAlbaraka Türk Özel Finans Kurumu A.Ş.
FoundedIstanbul, Turkey 1984
HeadquartersÜmraniye, Istanbul, Turkey
Number of locations
225 Branches (2022)
Area served
Turkey
Key people
Malek Khodr Temsah, General Manager and Board Member (2023)
ProductsIslamic Banking
Banking
Investment banking
Investment management
RevenueIncrease 327.2 million USD (2008)[1]
Number of employees
1,684 (2008)[1]
ParentAl Baraka Group
Websitewww.albarakaturk.com.tr
www.albaraka.com.tr/

Albaraka Türk was founded in 1984 in Istanbul Turkey and began actively serving in 1985 and commenced its commercial activities in 1985 as Albaraka Türk Özel Finans Kurumu. It is now known as the first Participation Bank in Turkey.

It has been founded under the guidance of the strong capital groups in the Middle East, Al Baraka Group B.S.C. , Islamic Development Bank (IDB) and another industry group serving the Turkish economy for more than a half century, Al Baraka Turk continued operating in Turkey in compliance with the 5411 Banking Law.

As of 30.06.2021, in our partnership structure, the share of the foreign partners is 60.87%, the share of the local partners is 0.72% and the share open to the public is 38.41%.

In addition to Albaraka Türk offering financial services to its customers through its branches, they also act as Anadolu Sigorta and Anadolu Hayat Emeklilik agencies, selling Insurance Policies, Private Pension Plans and other services related to their domain.[2][3]

Furthermore, Albaraka Türk in cooperation with Anadolu Hayat Emeklilik announced that they will offer Private Pension Plans in which the funds collected will be used in Sharia compliant non-interest Financial Instruments. This product especially aims towards the more sensitive Islamic customers.[4]

Albaraka Türk Katılım Bankası has profit and loss partnership, consumer finance, credit card Islamic license. [5]

Ownership structure

As of 30 September 2010 the ownership structure is as shown in the table[6]

Ownership Structure Share Amount
(in TRL)		 Share
(in %)
Foreign Shareholders 356,591,882.00 66.16
Al Baraka Group 291,373,378.00 54.06
Islamic Development Bank 42,265,852.00 7.84
Alharthy Family 18,629,256.00 3.46
Others 4,323,396.00 0.80
Local Shareholders 61,311,022.00 11.37
Public 121,097,096.00 22.47
Total 539,000,000.00 100.00

References

  1. ^ a b "Albaraka Türk Company Profile from Hoovers". Hoovers, a D&B Company.
  2. ^ "Albaraka Türk Katılım Bankası A.Ş. Unconsolidated financial statements including independent auditors' limited review report for the interim period ended September 30, 2010" (PDF). Albaraka Türk Katılım Bankası A.Ş. Archived from the original (PDF) on March 3, 2016. Retrieved November 15, 2010.
  3. ^ "Anadolu Hayat Emeklilik Özel Durum Açıklamaları". Anadolu Hayat Emeklilik A.Ş.[permanent dead link‍]
  4. ^ "Anadolu ve Albarak'dan 'faizsiz emeklilik' işbirliği". Milliyet Gazetecilik A.Ş.
  5. ^ "Albaraka Türk Katılım Bank Islamic licenses". Archived from the original on 2021-09-09.
  6. ^ "Albaraka Türk Ortaklık Yapısı". Albaraka Türk Katılım Bankası A.Ş. Archived from the original on 2010-12-12. Retrieved 2010-12-08.