Our Story

Al Baraka Bank was established in South Africa in 1989, in order to provide the communities, companies and individuals of this country, with the opportunity of Banking with the guiding principles of Shari'ah. Our Head Office is based in Durban, Kwa-Zulu Natal. We have a national business footprint, with six retail branches, three corporate banking offices and regional offices in Gauteng and Western Cape, affording our clients a comprehensive bouquet of financial products and services, as a commercial and fully-fledged Islamic banking institution.

The Al Baraka Banking Group has steadily increased its shareholding in its South African subsidiary, with the local business unit growing to become an integral part of the international group.

Drawing on such international pedigree, Al Baraka Bank has developed an enviable reputation as a highly professional, effective and efficient financial services provider; one with the capacity to operate at the very cutting-edge of Islamic banking in South Africa.

The Bank continues to enjoy an exceptional growth trajectory, and is today an important contributor towards the alleviation of some of this country’s most daunting socio-economic challenges; the result of its unwavering commitment to a range of Corporate Social Investment initiatives in four principal sectors, Education, Empowerment, Poverty Alleviation and Healthcare

Al Baraka Bank in South Africa is a fully integrated subsidiary of Al Baraka Banking Group, a Bahrain- based financial institution and a world leader in Islamic banking. Al Baraka Banking Group, which is listed on the Bahrain and Dubai financial exchanges, offers Shari’ah-compliant retail, corporate, treasury and investment banking and has a presence in no fewer than 17 countries through its comprehensive portfolio of subsidiary banking units and representative offices. The group delivers a broad bouquet of financial products, customised to meet the evolving needs of clients, and works diligently to best meet the need for world-wide Islamic banking services. 

International subsidiaries in the Al Baraka Banking Group stable include: Banque Al Baraka DAlgerie S.P.A in Algeria, Al Baraka Islamic Bank B.S.C. in Bahrain, Al Baraka Bank Egypt in Egypt, Jordan Islamic Bank in Jordan, Al Baraka Bank Lebanon S.A.L. in Lebanon, BTI Bank S.A. in Morocco, Al Baraka Bank (Pakistan) Limited in Pakistan, Itqan Capital in Saudi Arabia, Albaraka Bank Limited in South Africa, Al Baraka Bank Sudan in Sudan, Al Baraka Bank Syria s.a. in Syria, Al Baraka Bank Tunisia in Tunisia, Al Baraka Türk Participation Bank in Turkey, Germany and Al Baraka Banking Group representative offices in Indonesia and Libya, with a branch in Iraq, for which Al Baraka Türk Participation Bank is responsible.

As at 31 December 2020, Al Baraka Bank’s primary shareholders included the Bahrain-based Al Baraka Banking Group B.S.C. (64,51%), Dominion (SA) (Pty) Ltd. (6,01%), DCD London and Mutual plc (6,60%), Johannesburg-based Timewest Investments (Pty) Ltd. (7,67%), Sedfin (Pty) Ltd. (3,33%) and Esanjo Capital Ltd (2,0%). Foreign and local shareholders represent the balance.


We believe society needs a fair and equitable financial system: one which rewards effort and contributes to the development of the community.


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.



Our shared beliefs create strong bonds that form the basis of long-term relationships with customers and staff.


We have the energy and perseverance it will take to make an impact in our customers’ lives and for the greater good of society.


We value and respect the communities we serve. Our doors are always open; our customers always experience a warm hearted, hospitable welcome and accommodating service.

Peace of mind:

Our customers can rest assured that their financial interests are being managed by us to the highest ethical standards.

Social Contribution:

By banking with us our customers make a positive contribution to a better society; their growth and our growth will benefit the world around us.

Al Baraka Bank in South Africa is a fully integrated subsidiary of Al Baraka Banking Group, a Bahrain-based financial institution and a world leader in Islamic banking.

Islamic Banking caters to the increasing demand for alternatives to conventional banking methods and financial practices. The elementary concepts of Islamic Banking are: Risk-sharing, Transparency, Integrity and Social Responsibility. The essential distinction between Islamic and conventional banking, is in the association a bank has with its client, and the commitments that regulate that association. The Islamic Bank is a trader, an investor, a leaser, and a service provider to its client. 

The bank also has in place both an internal Shari’ah Department and an independent Shari’ah Supervisory Board. The vital roles of these bodies are to ensure the bank’s full compliance with Shari’ah in its every-day business activities. In addition, Al Baraka Bank is a member of the authoritative and respected international Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). The bank’s financial products are accordingly reviewed and audited on a regular basis, giving effect to the ongoing maintenance of and adherence to Shari’ah. 

At Al Baraka Bank, we endeavour to provide our clients with contemporary products and services, without compromising on the values that the Shari’ah outlines. The offerings are for any individual or company who seek a different method of managing their finances.

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