Clarification of banking protocol

Clarification regarding the protocol for opening accounts at Albaraka Türk Katılım Bankası

What is Albaraka Türk Katılım Bankası?

Albaraka Türk Katılım Bankası A.Ş. was founded in 1984 in Istanbul, Turkey by the Bahraini Al Baraka Banking Group and commenced its commercial activities in 1985 as Albaraka Türk Özel Finans Kurumu. It is known as the first Participation Bank in Turkey.

Albaraka operate the funds accumulated in current and participation accounts in trade and industry financing, and share the interest-free profit we gain with our customers. provide services such as individual financing, corporate financing, leasing, and project based profit-loss partnership to our customres. Wide correspondent bank network from Singapore to United Kingdom, from South Africa to Morocco, from Australia to Kazakhstan, consisting of approximately 1000 banks in 80 countries, we provide the opportunity of a fast, high quality and safe foreign trade experience for our customers.


Is "Shetewy Pay" a broker, representative, or has any partnership with Albaraka Türk Katılım Bankası?

No, "Shetewy Pay" is not a broker or representative or has any partnership with Albaraka Türk Katılım Bankası. It does not control or is jointly controlled by Albaraka Türk Katılım Bankası or any "subsidiary" of Albaraka Türk Katılım Bankası.

How can "Shetewy Pay" open accounts at Albaraka Türk Katılım Bankası?

We pass requests to create an account according to a specific pre-coordinated protocol that takes place at the embassy or consulate of the state of Turkey in the country in which you reside, This process is governed by law. The bank is free to accept or reject the application according to several criteria and reasons. Your relationship becomes direct with the bank itself if your request was accepted by the bank.

Shetewy Pay do not interfere or "can interfere" in your relationship with Albaraka Türk Katılım Bankası in the event if your request was approved by the bank. You become a customer of Albaraka Türk Katılım Bankası, legally. Your banking relationship with Albaraka Türk Katılım Bankası is independent. And you can access your account data on Albaraka Türk Katılım Bankası through the applications of Albaraka Türk Katılım Bankası itself as mentioned and shown on their official website.


What are the documents required for a Turkish consulate or embassy?

All information in this regard will be shared in the second week of February 2021. A webinar session will also be announced to clarify all the information in regard, follow our channels for more updates.


Can i open a business bank account?

Yes. This is supported.

I have other inquiries, how can I contact you?

Please contact us for any questions or inquiries.