Al-Qalam 
By Nabeelah Shaikh
Al Baraka Bank was awarded the best Islamic bank in South Africa at a prestigious awards ceremony held in Dubai this week.
The awards ceremony was held by Islamic Finance News (IFN), which is the Islamic finance industry’s largest news provider housing a large pool of finance-related articles and coverage.
IFN provides breaking news reports and analysis through multimedia and digital channels. IFN covers the entire spectrum of the Shariah-compliant industry and is highly recognised by global Islamic players.
Nasir Seedat, General Manager for Retail and Wealth at Al Baraka Bank said 2023 had been a phenomenal year.
“It’s good to know that the hard work has paid off. It’s always nice when you get recognised for your efforts. We were invited to a conference in Dubai held by IFN which ended with an awards evening. We are honoured to have received such a prestigious award,” said Seedat.
He said the success of the bank over the last year is attributed to its key stakeholders, shareholders, executive management, directors, and suppliers.
“They have all played an important role in keeping the corporate governance of the bank on track. And without our clients, we won’t be here today. At the moment, there are so many Islamic banking offerings in South Africa, and being voted for by our clients tells us that our clients have great trust in us. We are going to be in the industry for 35 years this year. There is history and stability that people resonate with at Al Baraka Bank,” said Seedat.
And while it was generally a tough year for the sector, after recovering from COVID-19, Seedat said financially it had been a great year for Al Baraka Bank.
He said what sets Al Baraka Bank apart is its track record.
“We are the only fully Shariah-compliant bank in the country and it’s also the customer service that we offer. Whilst all the other banks have gone into the digital space, and the call centers, and while we’ve also invested a lot of money in these areas, we have not lost touch with our clients. We believe in personalised customer service, where you’re not just a number at the bank,” said Seedat.
He said it was important to balance the digital side and the physical touch.
“We will assist our client’s situation and try to find solutions. For us that’s important. While there are digital channels and you can deal with us digitally, you can also pick up the phone and speak to a human,” said Seedat.
He emphasized the many offerings that Al Baraka Bank can provide to its clients.
“We’ve now launched our mobile banking app which allows you to view your investment statements, it allows you to read your banking statements, and transact. And we are ever developing our mobile app. On the finance side of things, we have our website, an online portal, where you can apply for vehicle and property finance online. And on the transactional banking side of things, we have also grown over the years,” said Seedat.
Seedat also recognised the team behind Al Baraka Bank, who he said was a cut above the rest.
“We are one of the strongest teams across the board from the Islamic banking and finance side of things. We have a dedicated team that has led us to this award. We look forward to better things to come,” said Seedat.
