TechX Pakistan | Startups | FinTech | Crypto | EdTech | Reviews
Hai Khawab? To Badlo Pakistan!
Tech Geeks
No Result
View All Result
  • Home
  • News
  • Tech and Telecom
    • Startups
    • Reviews
    • Cryptocurrency
    • Technology
    • Education
    • Games
    • Apps
    • Devices
    • Shopping
    • Mobile
  • How To
  • MoU
  • Comparison
  • TechX World
Subscribe
No Result
View All Result
No Result
View All Result
Home How To

How to open Bank Al Baraka account.

by Yousuf Ali
August 31, 2019
in News
0
How to open Bank Al Baraka account.

Bank Al Baraka came into existence as a end result of the merger of Al Baraka Islamic Bank of Pakistan (AIBP), the department operations of Al Baraka Islamic Bank (AIB) Bahrain and Emirates Global Islamic Bank of Pakistan. The merged group inaugurated its services on October 30th 2010, which now has a whole of 190 branches throughout unique cities in Pakistan.

Bank Al Baraka also gives its customers the privilege of internet services as it claims that these offerings will supply “extra convenience, safety and accessibility” to its customers so they can manipulate their finances from the relief of their domestic

Some of the services are mentioned below:

  • Manage Multiple Accounts
  • Transfer funds to any account (within Al Baraka)
  • Inter Bank Funds Transfer facilities
  • Mobile Top-ups and Payments
  • Payment of utility bills
  • Beneficiary Management
  • Instant Alerts on your Mobile Phone

We will be specifically looking at 3 different types of accounts which you can open in Bank Al Baraka.

TYPES OF ACCOUNTS:

  • Current account.
  • Savings account.
  • Tif’l Young Savers account

Current Account:

If you as a person are looking to open a current account that fulfils all of your needs with respect to Islamic banking then Bank Al Baraka is here to fulfil your dreams.

Opening a current account in bank al Baraka is quite easy to follow.

To apply for a current account there are 2 types of account users:

  • Salaried person (Age limit: 18 to 70 years old)
  • Business owner (Age limit: 18 to 70 years old)

SALARIED PERSON:

Now if you’re an employee and you work for someone, make sure to have your:

  • CNIC and 2 of its copies.
  • Evidence of your employment (provided by your employer through an employment verification letter)
  • Copy of your utility bills (e.g electricity bills, gas bills etc)

If as a salaried person you have these documents, then you can easily apply for a current account in Bank alBaraka.

BUSINESS OWNER:

Having a business you own, you need to be able to provide the following to open a current account in Bank Al Baraka:

  • CNIC and 2 of its copies
  • Proof of your business ownership

Along with the provision of these documents, the user must also submit a fee of 1000 PKR for account opening, as being an Islamic bank, there is no need for the provision of a minimum balance to keep your account from shutting down or to avoid incurring a tax imposition.

Features of current account:

  • Islamic account to fulfil your Islamic banking needs.
  • Free ATM cards, internet banking and e-statements.
  • Can open an account in PKR and other major foreign currencies.

Savings account:

To apply for a savings account in Bank al Baraka, there are 2 types of users.

  • Salaried person (Age limit: 18 to 70 years old)
  • Business owner (Age limit: 18 to 70 years old)

SALARIED PERSON:

  • CNIC and 2 of its copies.
  • Proof of employment (through an employment verification letter)
  • Record of your utility bills.

BUSINESS OWNER:

  • CNIC and 2 of its copies.
  • Proof of business.

Along with the provision of the aforementioned documents, the user must also submit a minimum fee of 100 PKR with no minimum balance is required for account maintenance.

Features of savings account:

  • Unlimited deposits and withdrawals.
  • Free e-statements and Internet Banking.
  • Profit calculated on monthly average balance bases.
  • available in local(PKR) and foreign currencies.

Tif’l Young savers account:

Bank Al Baraka has also opened its Tif’l Young Savers account for children up to the age of 18 as it highlights that it wants children to learn the importance of saving.

You can open your Tif’l young savers account with 100 PKR.

Features of young savers account:

  • Available in local currency (PKR) only.
  • No limit for minimum or maximum balance.
  • Unlimited deposits and max 2 withdrawals (through the counter) in 1 month time period.
  • Facilities such as SMS alerts, pay order and Hold mail can be availed.
  • You can open an account with as much as 100 PKR and can avail some really good benefits and features.
  • Available in local currency of PKR only.
  • No limits for minimum and maximum balance.
  • Maximum 2 withdrawals and unlimited deposits(over the counter) in 1 month.
  • Avail facilities such as Pay order and SMS alerts.

So if you want to open your young saver’s account, head on straight to your nearest Bank Al Baraka branch with your parents to apply.

If you wish to fill in the banking form at home instead of doing it at the bank, here’s a link to the banking form pdf file.

Related Posts

Government raises tax rates for the salaried class in response to IMF demand
News

Government raises tax rates for the salaried class in response to IMF demand

June 25, 2022
The CEJ-conflict IBA's reporting meeting gets underway. Politicians, journalists, filmmakers, and comedians discuss regulation, satire, and the relationship between culture and art
News

The CEJ-conflict IBA’s reporting meeting gets underway. Politicians, journalists, filmmakers, and comedians discuss regulation, satire, and the relationship between culture and art

June 25, 2022
Review petition on Riba case Ffiled by SBP and four additional banks
News

Review petition on Riba case Filed by SBP and four additional banks

June 25, 2022
IT industry is disappointed by P@SHA terms budget
News

IT industry disappointed with budget, says P@SHA

June 25, 2022
CEO Brainswarm talks about stem education and miniature robots at ITCN Asia – Pakistan Tech Festival
News

CEO Brainswarm talks about stem education and miniature robots at ITCN Asia – Pakistan Tech Festival

June 25, 2022
Govt. intends to sell state assets to foreign nations
News

Govt. intends to sell state assets to foreign nations

June 25, 2022
Next Post
How to open BankIslami account.

How to open BankIslami account.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Saudi Arabia is finalising the extension of a $3 billion deposit to Pakistan

Saudi Arabia is finalising the extension of a $3 billion deposit to Pakistan

May 25, 2022
Tesla issues its fourth recall within weeks for over 500,000 cars

Tesla issues its fourth recall within weeks for over 500,000 cars

February 24, 2022
Microsoft Search In Bing and Office 365 ProPlus

Microsoft Search In Bing and Office 365 ProPlus

January 23, 2020
Telenor Contributes Rs 50m To PM’s COVID-19 Relief Fund

Telenor Contributes Rs 50m To PM’s COVID-19 Relief Fund

April 21, 2020
Twitter Rolls Out Reply-Limiting Feature For All Users

Twitter Rolls Out Reply-Limiting Feature For All Users

August 12, 2020
Realme Narzo 30 launched with 90Hz display, Helio G95 SoC, 5,000mAh battery: price, specifications

Realme Narzo 30 launched with 90Hz display, Helio G95 SoC, 5,000mAh battery: price, specifications

May 19, 2021
  • Privacy & Policy
  • Advertisement with us
  • About Us
  • Contact Us
  • DMCA Content Complain?
  • Mail Now: info@techx.pk

TechX Pakistan All Right Reserved © 2019.

[elfsight_facebook_chat id=”1″]
No Result
View All Result
  • Home
  • News
  • Tech and Telecom
    • Startups
    • Reviews
    • Cryptocurrency
    • Technology
    • Education
    • Games
    • Apps
    • Devices
    • Shopping
    • Mobile
  • How To
  • MoU
  • Comparison
  • TechX World

SiteLock

Go to mobile version