Turkey’s Albaraka Türk, part of the Bahraini banking corporation Al Baraka Banking Group (ABG), has introduced its mobile-only banking service in Germany.
Known as Insha, the digital banking app is built on the banking platform of solarisBank.
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The bank intends to launch the service across Europe to target Turkish citizens and Muslims across continental Europe.
The app will enable users to open free accounts without requiring visiting a physical bank branch or signing any physical documents.
Additionally, the bank’s customers can withdraw money from ATMs without paying any fee with a limitation of three times per month. They can also carry out 10 money transfers and use the Insha debit card free of cost.
The app also provides number of other services such as a Zakat Calculator, ATM map, nearest mosque locator.
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By GlobalDataCommenting on the launch, Albaraka Türk general manager Melikşah Utku said that the Insha project marks the first step in the bank’s entry into the European market.
Insha app can be downloaded from both App Store and Google Play.
