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Al-Barakat

Company nameal-Barakat
البركات
Company typePrivate
Industrymoney transfer
Founded1986

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al-Barakat or al-Barakaat ( ), which means "Blessings" in Arabic, is a group of companies established in Somalia in 1986. Al-Barakat has involved itself in the modern form of hawala, an informal value transfer system, and the remittance trade. By 2001, it was operating in 40 countries and was the country's largest private employer. Al-Barakat handled about $140 million USD a year from the Somali diaspora, and also offered phone and internet services.


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