Company Information

Get to know Al Baraka Bank South Africa

Established in 1989, Al Baraka Bank Limited holds the distinction of being South Africa's first Islamic bank. It operates under the principles of Shari'ah law, providing ethical, interest-free banking solutions. The bank is a subsidiary of the Al Baraka Banking Group (ABG), a prominent international Islamic banking group headquartered in Bahrain. Its mission is to be the leading provider of Islamic financial services in South Africa, focusing on community upliftment and shared prosperity through a range of products including transactional accounts, vehicle and property finance, and investment products for individuals and businesses.

Industry

Financial BankingPRIMARY
Financial Other Service

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Al Baraka Bank South Africa

South Africa

Founded in

1989 (37 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Others

3/10

Reviews

20/90

1 review

Provided by TrustFinance

OVERALL SCORE

Others

3/10

Reviews

20/90

1 review

Provided by TrustFinance

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TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.

Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

Security Information :

FSCA

FSC

ASIC

Security Information

Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.