Albaraka Türk

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.

Albaraka Türk Katılım Bankası A.Ş.
TypePublic
BİST: ALBRK
IndustryFinance and Insurance
PredecessorAlbaraka Türk Özel Finans Kurumu A.Ş.
FoundedIstanbul, Turkey 1984
HeadquartersÜmraniye, Istanbul, Turkey
Number of locations
110 Branches (2011) in Turkey
Area served
Turkey
Key people
Adnan Ahmed Yusuf Abdulmalek, Chairman
Fahrettin Yahşi, CEO
Temel Hazıroğlu, COO[1]
ProductsIslamic Banking
Banking
Investment banking
Investment management
Revenue 327.2 million USD (2008)[2]
Number of employees
1,684 (2008)[2]
ParentAl Baraka Banking Group
Websitewww.albarakaturk.com.tr
www.albaraka.com.tr/

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.[3][4]

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.[5]

Ownership structure

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

Ownership StructureShare Amount
(in TRL)		Share
(in %)
Foreign Shareholders356,591,882.0066.16
Al Baraka Banking Group291,373,378.0054.06
Islamic Development Bank42,265,852.007.84
Alharthy Family18,629,256.003.46
Others4,323,396.000.80
Local Shareholders61,311,022.0011.37
Public121,097,096.0022.47
Total539,000,000.00100.00

References
  1. "Albaraka Türk Bizi Tanıyın". Albaraka Türk Katılım Bankası A.Ş. Archived from the original on 2009-12-15. Retrieved 2009-11-27.
  2. "Albaraka Türk Company Profile from Hoovers". Hoovers, a D&B Company.
  3. "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.
  4. "Anadolu Hayat Emeklilik Özel Durum Açıklamaları". Anadolu Hayat Emeklilik A.Ş.
  5. "Anadolu ve Albarak'dan 'faizsiz emeklilik' işbirliği". Milliyet Gazetecilik A.Ş.
  6. "Albaraka Türk Ortaklık Yapısı". Albaraka Türk Katılım Bankası A.Ş. Archived from the original on 2010-12-12. Retrieved 2010-12-08.
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