Albaraka Turk, the first finance institution and the pioneer in the field of interest-free banking, completed its establishment in 1984 and commenced operations in the beginning of 1985. Albaraka Turk continues its operations in compliance with the Law of Banking numbered 5411. Albaraka Turk was founded by Albaraka banking Group (ABG), one of the prominent groups of the Middle East, Islamic Development Bank (IDB) and a native industrial group of Turkey, which served the Turkish economy for more than half a century.
Albaraka, which collects funds through current and participation accounts and in turn circulates the funds into the economy through individual finance, corporate finance, financial leasing and profit/loss sharing based on projects etc is authorized to provide various financial and banking services through interest-free banking applications.
Albaraka, which commenced banking with the vision of becoming the best in the region in presenting financial products and services in the regions ( The Gulf, Middle East and South Africa) where its main partner Albaraka Banking Group operates, is able to provide its customers with superior, rapid and secure foreign trade (import, export and foreign exchange) thanks to a wide network of correspondent banks.