Albaraka Türk

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Albaraka Türk Katılım Bankası A.Ş.
Public
Traded as BİST: ALBRK
Industry Finance and Insurance
Predecessor Albaraka Türk Özel Finans Kurumu A.Ş.
Founded Istanbul, Turkey 1984
Headquarters Ümraniye, 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]
Products Islamic Banking
Banking
Investment banking
Investment management
Revenue Increase 327.2 million USD (2008)[2]
Number of employees
 1,684 (2008)[2]
Parent Al Baraka Banking Group
Website www.albarakaturk.com.tr

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.[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 30.09.2010 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 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

External links

References

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