Fawaz Awana opened the scoring for Baniyas on the stroke of half-time but Mubarak was needed in the 88th minute after Bilal Mohammed levelled shortly after the hour mark.
Leaders Al Ain remain six points clear of the chasing pack, though, with Asamoah Gyan's penalty settling a 1-0 win over Al Jazira, who drop one place to third.
The former Sunderland striker could not find his 21st goal of the season from open play but he found it from the spot in the 78th minute.
Elsewhere, mid-table sides Ajman and Al Shabab played out a 2-2 draw decided by an exchange of braces.
Boris Kabi opened the scoring in the 11th minute before doubling Ajman's lead in the 63rd minute, leaving Edgar da Silva to grab a point-saving double with goals in the 73rd and 90th minutes.