ALBARAKA GROUP

Al Baraka Group B.S.C. (c) ("ABG" / the “Group”) is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain. It is a leading [1] international Islamic financial group providing financial services through its banking subsidiaries in 13 countries offering retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Islamic Shari'a.

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ALBARAKA GROUP SWIFT Code

Country

City

Bank or Institution

SWIFT Code

Bahrain

MANAMA

ABBGBHBM

Bahrain

MANAMA

ABBGBHBMXXX

Total: 2
1

About ALBARAKA GROUP

Company type
Private
Industry
Finance
Founded
1978 ; 47 years ago ( 1978 )
Headquarters
Al Baraka Headquarters, Bahrain Bay , P.O. Box 1882 Manama , Kingdom of Bahrain
Key people
Mr. Abdullah Saleh Kamel, Chairman Mr. Mohamed Ebrahim Alshroogi, Vice Chairman
Revenue
0.79 Billion USD (Q3 2024)
Number of employees
Over 10 K Employees Worldwide (2024)
Website
www.albaraka.com

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What is a SWIFT code?

A SWIFT code is an 8 or 11 character code used in banking to facilitate transactions and identify the bank.

What is the purpose of a SWIFT code in international transactions?

SWIFT codes are used to route international financial transactions to the correct bank and branch. It facilitates the smooth and accurate transfer of funds between different banks and countries, ensuring that the transactions are processed correctly and securely.

How do I find my bank's SWIFT code?

You can find your bank's SWIFT/BIC code in the statements of your bank account. You can also use our SWIFT/BIC finder to get the right code for your transfer.

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Frequently Asked Questions

1. Why does ALBARAKA GROUP have different SWIFT Codes?

ALBARAKA GROUP operates differently across various countries, regions, and branches, with variations in business operations and clearing paths. To accurately identify and process ALBARAKA GROUP's cross-border payments and other transactions, different SWIFT Codes are used for distinction. Many large multinational banks have unique SWIFT Codes to their headquarters, regional branches, and overseas subsidiaries to ensure precise and secure fund transactions.

2. How do I know which SWIFT Code of ALBARAKA GROUP to use in a transfer?

It depends on the specific business scenario. For cross-border remittance to a branch of ALBARAKA GROUP, you can log on to the official website of ALBARAKA GROUP, or search the current page of XTransfer, or call ALBARAKA GROUP to inquire about the SWIFT Code of the branch. For international business, you should first coordinate with the relevant branch in the target country and confirm the correct SWIFT Code based on the exact information provided by your business partner.

3. Is there any pattern in the composition of different SWIFT Codes for a multinational bank like ALBARAKA GROUP?

Usually, SWIFT Code consists of 8 or 11 characters. For ALBARAKA GROUP, the first 4 digits represent the bank code, which is the same for ALBARAKA GROUP worldwide; the 5th and 6th digits are the country code; and the 7th and 8th digits are the region code, which will be different for branches in various regions. If the code includes 11 digits, the last 3 digits represent the branch code, which is used to distinguish different branches within the same region.

4. Will the SWIFT Code for ALBARAKA GROUP be updated or changed?

Yes. When ALBARAKA GROUP undergoes an organizational restructuring, such as a branch relocation, merger or split, or when there is a significant change in the financial system of the region where ALBARAKA GROUP is located, its SWIFT Code may be updated and changed. ALBARAKA GROUP will announce the changes in advance through its official website, mobile banking APP and other channels. Therefore, when handling cross-border business, customers should pay attention to the announcement of ALBARAKA GROUP in time to confirm the latest SWIFT Code information, so as to avoid affecting the business.

5. Do different SWIFT Codes of ALBARAKA GROUP support the same scope of business?

The scope of business is different. While the same bank can operate with different SWIFT Codes for the same basic types of business, there are differences for some specialized businesses or for businesses in specific regions. For example, the SWIFT Code of some branches may be specialized to support trade finance business, while the SWIFT Code of other branches is more convenient for cross-border e-commerce collection. In addition, for some emerging markets or country-specific business, only the SWIFT Code of a particular branch may have the authority to process it. When conducting international business, it is important to check whether the SWIFT Code of ALBARAKA GROUP supports the corresponding business.