alBaraka

Al Baraka in South Africa is truly one of a kind since it not only provides basic Shari’ah compliant banking services but is a world-class provider of banking products and services that are truly on the cutting edge of technological innovation.

Al Baraka Group is based in the middle-eastern island country of Bahrain but its South African subsidiary has done a great job of incorporating the culture and needs of its South African market into its offerings and approach.

Partnering for entrepreneurial success: Al Baraka's deep understanding of unique needs

Al Baraka serves as an ideal partner for entrepreneurs, demonstrating a deep understanding of their unique needs and aspirations. The organisation's unwavering commitment to Islamic principles drives the provision of a comprehensive range of financial services tailored specifically to support entrepreneurs on their path to success. Whether entrepreneurs require retail, corporate, treasury, or investment banking services, Al Baraka stands ready to provide assistance.

Guided by core values of partnership, agility, innovation, trust, and development, Al Baraka fosters enduring relationships with its entrepreneurial clients. The bank believes in closely collaborating with entrepreneurs, gaining an in-depth understanding of their businesses, and delivering customised solutions that align with their individual requirements. As a committed partner, Al Baraka places utmost priority on the success of its clients, working collaboratively to achieve shared objectives.

World class convenience for your business

When engaging with Al Baraka, entrepreneurs can expect a seamless and hassle-free banking experience. The organisation streamlines processes by minimising paperwork, seeking only essential and readily available information to initiate transactions. With 24-hour online access, clients can conveniently manage their finances from anywhere, at any time.

A partner that is as committed to your success as you are

Al Baraka offers reasonable pricing and flexible interest rates, designed to cater to the specific needs of entrepreneurs and their organisations. Repayment schedules can be synchronised with clients' income streams, allowing loans to be paid off once invoices are settled. With Al Baraka, entrepreneurs gain a trusted financial partner committed to their success and the overall development of individuals, businesses, and communities.

Al Baraka strives to deliver comprehensive business banking and lending services under one roof while remaining Shari'ah-compliant. All their products and services are tailored to meet the needs of South African businesses merging the latest technological advancements and offer with traditional religious values.

Shari’ah-compliant business lending

If you're a South African business owner looking for equipment finance or other business finance solutions that are Shari’ah compliant, Al Baraka is an obvious choice.

Shari’ah-compliant business loan offers

• Trade business finance
• Asset or equipment finance options
• Fleet finance
• Commercial property loans
• Property development solutions

In addition to offering all the above-mentioned business loan types and solutions, they also offer business accounts from as little as R50 per month. Regardless of where you are in your business journey, you can partner with Al Baraka to access the credit and banking services you need to start, grow, or manage your business, the right way.

What is asset or equipment finance?

Assets and equipment are the foundation of any business. From manufacturing equipment which allows you to turn raw materials into a marketable product to fleet and property, knowing what to invest in and having the support you need is crucial to business success.

With Al Baraka’s Shari'ah-compliant equipment finance, you can purchase exactly what your business requires to get going or expand and ensure you’re on the right path.

Why choose Al Baraka bank for your equipment loans?

• Shari'ah-compliant finance
• Deposit requirements are affordable for all
• No administrative fees will be charged on your equipment loan
• The rates are highly competitive
• You get to make a set monthly repayment to help you budget better
• VAT refund considerations
• Up to 5 years to repay your credit

Costs of Al Barakas equipment finance solutions

You can opt for a once-off equipment finance deal or a revolving facility but, you will need to provide collateral and an annual fee for the services you receive. You will also benefit from knowing that the cost of your credit is once-off and so you know exactly what to budget for and will not be surprised by additional fees and charges.