The story
Partial calque of Arabic حَائِطُ ٱلْبُرَاق (ḥāʔiṭu l-burāq), because it is, according to Muslim tradition, the location where the prophet Mohammed tethered the legendary creature Buraq, البُرَاق (al-burāq).
Etymology from Wiktionary, CC BY-SA 4.0.