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Company nameal-Barakat
Company typePrivate
Industrymoney transfer

     Home | Company | Al-Barakat

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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