Accounts

Current Accounts
Current Accounts
Current Accounts
Current Accounts

The Albaraka Participation Bank is an institution operating on the principals of profit and loss sharing. alBaraka was established in 1985 under Banking Law Number 5411.

Fund Storage Services Albaraka is entitled to collect two types of funds: special currency accounts and participation accounts.

Current Accounts
Current Accounts
Insurance
Current Accounts
Current Accounts

Special currency accounts represent deposits in Turkish Lira and foreign currencies, mainly U.S. Dollars and Euros. These accounts can be partly or wholly withdrawn upon request and no interest is paid to deposit holders.

 

Currency accounts offer the following features :

  • Current accounts present the services of
  • Checking,
  • Bill payment,

  • EFT and invoice services

  • Credit card, automatic payment, and financing

  • You can open an account by going to your nearest alBaraka branch and presenting your identity card and residence documents to one of our customer representatives.

  • You can make conduct transactions with your currency account at our call center or through Internet banking 24 hours a day, 365 days a year.

  • You can withdraw cash or conduct transactions at Common Point ATMs your alBaraka banking card. You can also withdraw cash and use ATMs abroad wherever you see the VISA Electron Plus sign.

 

Insurance
  • Collected funds in private current accounts and participation accounts on Turkish currency or Exchange currency on behalf of real persons in Participation Banks depend on insurance. The part up to 100,000 TL of accounts and profit share sums of a person is within the scope of the insurance.
  • Accounts that are opened in abroad agencies including off-shore banking of Participation Banks is out of the scope of Savings Deposit Insurance Fund.
  • In case of removal of activity permit; unit account value that will be calculated on liquidiation balance sheet is based on. Payments within the scope of Savings Deposit Insurance Fund are performed on Turkish Lira. For conversion of Foreign currency account into Turkish Lira, Central Bank Exchange purchase currency is applied.
  • If shares who have accounts in private common account and/or participation account are certain; payment is performed according to these shares; including the insurance amount; if it is not certain payment is performed equally on condition that not exceeding the insurance amount for each person.