Huseyin Ergun

Albaraka Türk Katılım Bankası A.Ş

Albaraka Türk completed its establishment in 1984. 1985 is the year when Albaraka Türk commenced operations, introducing a fresh breath to the financial sector of Turkey. Albaraka Türk has been the symbol of reliance and respect, as well as knowledge and experience since its incorporation. Moreover, it has been the pioneer and leader of an alternative financial system in Turkey since its inception. The new system of interest-free financial services which was developed by Albaraka's vanguardiance has indeed provided an alternative facility to savers who never deposited with conventional banks dealing with "interest". Under this new system, the savings of depositors are treated as their investments based on "profit and loss sharing" philosophy. Among the major shareholders of Albaraka Türk we are proud to present the following groups: An industrialist family of a prominent textile group in Turkey. Dallah Albaraka Group of Saudi Arabia which is globaly well-known in commerce, construction, transportation, media, services and finance. Islamic Development Bank (headquartered in Jeddah, Saudi Arabia) which was founded by 52 states of the world. Albaraka Türk has so far contributed a lot in deepening the roots of this new system by means of the strong and contemporary technical infrastructure which was set up in 1985, the regular training and education programmes practised in-house, the organic organisation which is functioning effectively in its branches and Head Office, as well as enriching the available human resources for this system. Albaraka Türk is able to serve its clients globaly by the help of a wide network of correspondent banks, comprising of over 207 banks operating in about 60 countries around the world, say, from Singapor to U.K., from South Africa to China, from Australia to Kazakhstan. This network increases the speed, quality and security of foreign-trade business of Albaraka Turkish and its clients.