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Albaraka bank Turkey

Albaraka bank Turkey Turkey is one of the most important Islamic banks in Turkey, which depends on providing banking services based on the Murabaha system without interest.

AlBaraka Turkish Bank is a subsidiary of the Al Baraka Banking Group, which owns many branches of AlBaraka Bank around the world and in the Arab countries.

Al Baraka Bank Turkey

About AlBaraka Bank Turkey

Al Baraka Turk Bank was established in 1984 on the basis of providing interest-free banking services according to the Islamic system, and in 1992 the total of Al Baraka Turk branches reached 10 branches and its assets exceeded $ 400 million.

The bank has received many awards that indicate its excellent performance and its provision of high-quality banking services, as the number of Turkish Al Baraka Bank branches reached about 230 branches nationwide.

Services provided by Al Baraka Bank in Turkey

Al Baraka Turk offers many distinctive services to foreigners and Turks in Turkey, the most important of which are:

  • Islamic Murabaha
  • Mortgage
  • Credit loans
  • Pay bills online
  • Conducting Swift Code transfers outside Turkey
  • Transferring funds within Turkey to other banks.
  • Transferring funds inside Turkey to Al Baraka accounts at the same moment.
  • Issuance of credit cards
  • Foreign currency exchange
  • Pay health insurance premiums
  • Western Union transfer inside and outside Turkey
  • Issuance of prepaid cards and debit cards.
  • Investing in the stock exchange
  • Insurance products
  • Investing in gold
  • Perform import and export transactions
  • Safe deposit boxes
  • Investing in mutual funds
  • Pay taxes and fees

Interest in of Al Baraka Turkish Bank

The Interest of Al Baraka Turkish Bank change according to the conditions of the market and the economy, as the interest is not fixed and is called the Murabaha system, which follows the Islamic Sharia.

Al Baraka Bank offers profits based on operating funds accumulated in current accounts and participation accounts in commercial and industrial financing, as the bank shares its clients with profits without usurious interest.

You can find out the profits of Al Baraka Turkish Bank by clicking here, where the site shows a table showing the profit percentage for each month, three months, six months and a year. In addition to the annual profit with a monthly or 3-month profit distribution.

The table also shows the benefits of Al Baraka Turkish Bank for the currencies of the Turkish lira, the US dollar, the euro, and gold, which is at the end of the table with the symbol XAU.

Kuwait Turk bank also offers services and banking transactions according to the Islamic sharia.

Offers Bank of Kuwait left also in Turkey exchange services and banking transactions Islamic.

Al Baraka Turkish Bank is an Islamic bank

Al Baraka Turkish Bank branches outside Turkey

Al Baraka Turk Bank has a branch outside Turkey in Iraq, specifically in Erbil, which can be contacted at the following phone number:

 212 360 52 14

Swift Code AlBaraka Bank Turkey

To make international transfers to an account at Al Baraka Bank Turkey, you can use the bank’s Swift code, which is: BTFHTRIS

Download the application of AlBaraka Bank Turkey

You can perform all your banking transactions, by visiting the nearest branch of Al Baraka Turk Bank in Turkey, and you can also visit the bank’s website by clicking here , and you can also download the application, which supports English and Turkish languages, for the Android system and the İOS system .

AlBaraka Turk ban branches in Turkey

You can find out about Al Baraka Bank branches in Turkey by clicking here and choosing the city and place where you want to search for branches or ATMs.

Money transfer from and to Turkey

Wise is one of the best ways to transfer money in Turkey easily, quickly and safely, as it is characterized by its lower transfer fees than Western Union and banks.

Wise advantages

  • Wise is completely secure for all types of transfers.
  • You can send money outside of Turkey about eight times cheaper than with traditional methods.
  • Transfer fees are straightforward, and there are no hidden Fees.
  • The conversion process is done easily on the Internet.
  • The funds are automatically transferred to the recipient’s bank account.
  • Wise has around 750 different currencies to transfer, including the Turkish Lira, US Dollar, Euro, British Pound, and Egyptian Pound.

You can transfer via Wise directly online and easier than Western Union and banks by clicking here.

Al Baraka Turk credit rating

Standard & Poor’s (24 November 2019)
Long-term credit ratingB
Short-term credit ratingB
National long-term credit ratingtrBBB +
Short-term credit rating at the national levelTRA-2
Islamic International Rating Agency (29 June 2019)
Long-term credit rating in foreign currencyBB +
Short term credit rating in foreign currencyA3
Long-term credit rating in local currencyBBB-
Short term credit rating in local currencyA3
National Investor Services (29 June 2020)
National long-term credit ratingA + (tr)
Short-term credit rating at the national levelA1 (tr)

Classification of corporate governance

National Investor Services (5 June 2020)
Classification of corporate governance909
Public disclosure and transparency9,40
– the concerned9,34

What are the services provided by AlBaraka Turk Bank?

AlBaraka Bank in Turkey offers a variety of services, saving accounts, debit and credit cards, in addition to investing in gold, and receiving Western Union transfers from outside Turkey.

Can a Western Union transfer be made from AlBaraka Bank Tur?

Yes, you can do a Western Union transfer easily by visiting your nearest branch.

How do I receive a Western Union transfer from AlBaraka Bank in Turkey?

Go to the nearest bank branch with your MTCN number and proof of identity, and you can get the transfer in minutes.