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HISTORY

With more than 30 years of experience in the sector, we have succeeded in achieving healthy growth by foreseeing the great change that the Turkish economy has experienced over time with the right strategies and being the pioneer of participation banking.

  • 1984 - Studies for establishment of Albaraka Turk were initiated with the offer from Albaraka, which operates in non-interest banking sector.
  • 1985 – We started operating as the first private finance institution in Turkey.
  • 1988 - Financial leasing operations were initiated.
  • 1992 - Number of branches reached to 10 and its total assets exceeded 400 million dollars.
  • 1998 - We started to present credit card service as well after our agreement with Visa and the number of our branches reached up to 22.
  • While the number of our branches reached to 24, our total equity capital reached 70 million dollars.
  • 2007 - Public offering for 170 million dollars attracted over 7 billion dollars of demands from 24 thousand investors.
  • 2011 - First branch abroad opened in Erbil-Iraq. We achieved the largest amounted syndication credit in the sector with a usury syndication amounting to 350 million dollars. We carried out the first wakala operation.
  • 2012 - Transformation program SIMURG was initiated in line with our vision of "To Be the Best Participation Bank in the World”
  • 2013 - The number of our domestic branches reached up to 166. We provided capital-like credit with the usury sukuk method applied for the first time in Turkey.
  • 2014 - We broke a record in banking history with 35 new branch openings and the number of our branches reached to 202. Important achievements were obtained within the context of SİMURG.
  • 2015 - The first subordinated sukuk complying with Basel III criteria are issued in Turkey. Albatros, a new core banking system that shifts the Bank’s focus from operations to customers, goes into service as of June 19, 2015. The Bank’s Mobile Branch and Mobile Branch touch ID projects are completed.
  • 2016 - 4 lease certificates (sukuk) in TRL are issued for our qualified investors. Head-quarters building of Albaraka Turk has been granted LEED Gold Certificate. Albatros (New Main Banking System) project is deemed worthy of an award of “the Best Technology Utilization in Retail Banking” in “Banking Technology Awards”.
  • 2017 - The Bank’s domestic branch networkexpanded to 220 locations. Albaraka Garage was launched, as the first start-up accelerator in the world established by a participation bank. The Bank undersigned major projects for digitization, a strategic priority area for Albaraka Türk. Albaraka Türk was named “Turkey’s Best Participation Bank” by Islamic Finance News (IFN) magazine.
  • 2018 - The total branch network reached 230 locations. The Bank received the Best Participation Bank of the Year award at the third edition of the Adding Value to Turkey Awards organized by Turcomoney in 2018. Albaraka Mobile was enhanced with the addition of QR code, Voice Assistant and Face Recognition features. Albaraka Türk was a standout at the WIFA 2018 Awards, collecting three first prizes in three separate categories.