Albaraka Türk
Encyclopedia
Albaraka Türk Katılım Bankası A.Ş. was founded in 1984 in Istanbul
, Turkey
by the Bahraini
Al Baraka Banking Group
and commenced its commercial activities in 1985 as Albaraka Türk Özel Finans Kurumu. It is known as the first Participation Bank in Turkey
. The ownership structure is composed of 66,51% by foreign investment parties, 12,91% by local parties and 20,57% is held by IPO.
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.
Recently 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.
Ownership Structure=
as of 30.09.2010 the ownership structure is as shown in the table
Istanbul
Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
by the Bahraini
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
Al Baraka Banking Group
Al Baraka Banking Group
Al Baraka Banking Group was formed in 2002 in Manama, Bahrain. The company is listed on the Bahrain Stock Exchange and Dubai NASDAQ Al, the group offers retail, corporate and investment banking and treasury services strictly in accordance with the principles of the Shari'a in 12...
and commenced its commercial activities in 1985 as Albaraka Türk Özel Finans Kurumu. It is known as the first Participation Bank in Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
. The ownership structure is composed of 66,51% by foreign investment parties, 12,91% by local parties and 20,57% is held by IPO.
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.
Recently 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.
Ownership Structure=
as of 30.09.2010 the ownership structure is as shown in the table
| Ownership Structure | Share Amount (in TRL) | Share (in %) |
|---|---|---|
| Foreign Shareholders | 356.591.882,00 | 66,16 |
| Al Baraka Banking 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 |