Headquartered in the Kingdom of Bahrain, Al Salam Bank-Bahrain (B.S.C.) (“Bank”) is a dynamic, diversified and differentiated Islamic bank.
The Bank was incorporated on 19 January 2006 in the Kingdom of Bahrain and commenced commercial operations on 17 April 2006. The Bank operates under Shari’a principles in accordance with regulatory requirements for Islamic banks set by the Central Bank of Bahrain. The Bank was Established with a paid-up capital of BD120 million (US$318 million) and was the largest Initial Public Offering in Bahrain’s history with subscriptions reaching circa BD3 billion. The Bank’s paid-up capital as of December 2015 was BD214 million (US$567 million).
The Bank was listed on the Bahrain Bourse on 27 April 2006, and subsequently on the Dubai Financial Market on 26 March 2008. The Bank’s high-caliber management team comprises highly qualified and internationally experienced professionals with proven investment expertise in key areas of banking, finance and related fields; all supported by a world-class Information Technology infrastructure and the latest ‘smart’ working environment.
In 2009, the Bank completed its merger with the Bahraini Saudi Bank. Thereafter in 2014, the Bank became the third largest domestic bank by asset size following the conclusion of a business combination between Al Salam Bank-Bahrain and BMI Bank B.S.C (c), where latter became a wholly owned subsidiary of Al Salam Bank - Bahrain.
The Bank offers its customers a complete range of innovative and unique Shari’a-compliant financial products and services through its extended network of 11 branches and 35 ATMs utilizing the latest technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Investment as well as Treasury services.
The Bank witnessed remarkable growth in its operations which has been reflected in the growth in the Bank’s total operating income from circa BD13 million (US$34 million) in 2011 to circa BD58 million (US$153 million) in 2015. The Bank improved its operation efficiency which was reflected in an improved net profit margin leading to an increase in net profit from circa BD0.5 million (US$1.3 million) in 2011 to circa BD10.5 million (US$28 million), along with the reduction in the Bank’s cost to income ratio from 91% in 2011 to 43.7% in 2015. The Bank’s strong performance during the past years resulted in an increase in earnings per share by 28 folds from 0.2 fils in 2011 to 5.8 fils in 2015.
The Bank continued expanding its asset base while focusing on obtaining high quality assets. Total assets increased by 79% from BD924 million (US$2,451 million) in 2011 to BD1,657 (US$4,395 million) in 2015.
The Bank is committed into adopting internationally recognized standards and best practices in Corporate Governance and operates with highest levels of integrity, transparency and trust. The Bank is committed to its role as a concerned corporate citizen, actively seeking ways to contribute and add value to the social and economic wellbeing of the local communities in which it invests and operates.
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training... Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank s staff. With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF) the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence. The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise it said. Yousif Taqi director and group CEO of Al Salam Bank-Bahrain expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development
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Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training... Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank s staff. With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF) the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence. The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise it said. Yousif Taqi director and group CEO of Al Salam Bank-Bahrain expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development
Al Salam Bank-Bahrain has partnered with the Bahrain Institute of Banking and Finance (BIBF) to conduct a specialized training programme entitled Retail Banking Academy for the employees of the bank. The programme will include six months of comprehensive courses delivered by international instructors covering topics related to various functions such as customer service salesmanship handling complaints with supreme care staff leadership and management. The programme will further develop the Bank s human capital skills knowledge and service quality with a prime focus on enhancing customer s banking experience. Present at the signing ceremony held at the bank s headquarter office in the Bahrain World Trade Center were Anwar Murad - deputy Group CEO of Banking at Al Salam Bank-Bahrain Dr Ahmed Al Shaikh director of the BIBF along with senior officials from both institutions. We are pleased to cooperate with the BIBF to provide the necessary training and development programs that forms a significant part of our strategy in bolstering our human capital calibre said Murad. Customer care is one of the utmost factors of Al Salam Bank s success and this is in line with our commitment to continuously enhance our customer s experience that complements our diverse selection of unique Shari a-compliant products and services. The program will include a series of training courses workshops as well as CMI advanced professional qualification level which is specifically designed to further boost our employee s performance with the ultimate goal of meeting our valued clients banking needs. We would also like to extend our sincere appreciation to Tamkeen s continued support to such program initiatives that ultimately results in generating value added career progression opportunities and economic development in the Kingdom he added. Dr Al Shaikh said: We are delighted to closely work with Al Salam Bank by providing a tailored training program that is in line with the Bank s human capital development strategy. At the BIBF we always encourage such initiatives by organizations like Al Salam Bank that emphasize the importance of developing their day to day banking activities for customers and by stimulating employees on how to apply the best customer framework practices.
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Al Salam Bank-Bahrain has partnered with the Bahrain Institute of Banking and Finance (BIBF) to conduct a specialized training programme entitled Retail Banking Academy for the employees of the bank. The programme will include six months of comprehensive courses delivered by international instructors covering topics related to various functions such as customer service salesmanship handling complaints with supreme care staff leadership and management. The programme will further develop the Bank s human capital skills knowledge and service quality with a prime focus on enhancing customer s banking experience. Present at the signing ceremony held at the bank s headquarter office in the Bahrain World Trade Center were Anwar Murad - deputy Group CEO of Banking at Al Salam Bank-Bahrain Dr Ahmed Al Shaikh director of the BIBF along with senior officials from both institutions. We are pleased to cooperate with the BIBF to provide the necessary training and development programs that forms a significant part of our strategy in bolstering our human capital calibre said Murad. Customer care is one of the utmost factors of Al Salam Bank s success and this is in line with our commitment to continuously enhance our customer s experience that complements our diverse selection of unique Shari a-compliant products and services. The program will include a series of training courses workshops as well as CMI advanced professional qualification level which is specifically designed to further boost our employee s performance with the ultimate goal of meeting our valued clients banking needs. We would also like to extend our sincere appreciation to Tamkeen s continued support to such program initiatives that ultimately results in generating value added career progression opportunities and economic development in the Kingdom he added. Dr Al Shaikh said: We are delighted to closely work with Al Salam Bank by providing a tailored training program that is in line with the Bank s human capital development strategy. At the BIBF we always encourage such initiatives by organizations like Al Salam Bank that emphasize the importance of developing their day to day banking activities for customers and by stimulating employees on how to apply the best customer framework practices.
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has launched an upgraded online banking platform for its individual customers. The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button without the need to visit a branch. The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame. As part of the added security enhancements customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad said the bank. Mohammed Buhijji head of retail banking of Al Salam Bank-Bahrain said: Al Salam Bank first introduced its online banking service to customers in 2007 and I am pleased to announce that the improved and upgraded version of the service which we are launching today offers a much wider range of new services and features including advanced security enhancements such as self-resetting of user password online and OTP services to our beloved customers. Over the years we have been working towards leveraging technology as well as providing convenient and easily accessible banking services through a range of channels such as ATMs the internet and through our mobile banking application that is made available to download from App store and Play store (android) in an attempt to make banking convenient and further boost the customer experience. With our Online Banking and Mobile Banking service we are confident that our customers will have better control of their finances safely quickly and conveniently. This new initiative is in line with our philosophy of keeping the customer s needs as the focal point of our business providing them with an online service that efficiently caters to the ever-changing banking requirements of customers. Customers can enroll for the new online banking service by completing the self-registration process online at www.alsalambahrain.com. Through the improved listing of the Online Banking services customers will be able to view all their account statements financing details accounts and credit card as well as prepaid card transactions add beneficiaries review history of all their online banking transactions at a glance and make their card payments in real-time.
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Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has launched an upgraded online banking platform for its individual customers. The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button without the need to visit a branch. The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame. As part of the added security enhancements customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad said the bank. Mohammed Buhijji head of retail banking of Al Salam Bank-Bahrain said: Al Salam Bank first introduced its online banking service to customers in 2007 and I am pleased to announce that the improved and upgraded version of the service which we are launching today offers a much wider range of new services and features including advanced security enhancements such as self-resetting of user password online and OTP services to our beloved customers. Over the years we have been working towards leveraging technology as well as providing convenient and easily accessible banking services through a range of channels such as ATMs the internet and through our mobile banking application that is made available to download from App store and Play store (android) in an attempt to make banking convenient and further boost the customer experience. With our Online Banking and Mobile Banking service we are confident that our customers will have better control of their finances safely quickly and conveniently. This new initiative is in line with our philosophy of keeping the customer s needs as the focal point of our business providing them with an online service that efficiently caters to the ever-changing banking requirements of customers. Customers can enroll for the new online banking service by completing the self-registration process online at www.alsalambahrain.com. Through the improved listing of the Online Banking services customers will be able to view all their account statements financing details accounts and credit card as well as prepaid card transactions add beneficiaries review history of all their online banking transactions at a glance and make their card payments in real-time.
Al Salam Bank-Bahrain (ASBB) one of the pioneering Shari a-compliant banks in the kingdom has announced that it has successfully taken over the entire business of its subsidiary BMI Bank. Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20 it has approved BMI Bank s request to transfer its entire banking business including all of its assets and liabilities to ASBB. On the move Yousif Taqi the director and group CEO of Al Salam Bank-Bahrain said: We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder s value. ASBB s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio and consistent with this strategy the board of directors is ideally poised to achieve its vision of becoming a regional force in banking & financial industry he stated. Taqi said the bank was committed to facilitate a smooth transition of all BMI Bank businesses which will gradually be transferred to Al Salam Bank. Customers can now take advantage of ASBB s complete range of innovative and unique Shari a-compliant financial products and services through its extended network of branches and ATMs by providing quicker more amalgamated products and services for our Islamic banking customers he added. -TradeArabia News Service
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Al Salam Bank-Bahrain (ASBB) one of the pioneering Shari a-compliant banks in the kingdom has announced that it has successfully taken over the entire business of its subsidiary BMI Bank. Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20 it has approved BMI Bank s request to transfer its entire banking business including all of its assets and liabilities to ASBB. On the move Yousif Taqi the director and group CEO of Al Salam Bank-Bahrain said: We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder s value. ASBB s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio and consistent with this strategy the board of directors is ideally poised to achieve its vision of becoming a regional force in banking & financial industry he stated. Taqi said the bank was committed to facilitate a smooth transition of all BMI Bank businesses which will gradually be transferred to Al Salam Bank. Customers can now take advantage of ASBB s complete range of innovative and unique Shari a-compliant financial products and services through its extended network of branches and ATMs by providing quicker more amalgamated products and services for our Islamic banking customers he added. -TradeArabia News Service
Al Salam Bank-Bahrain a pioneering Shari a-compliant bank in the Kingdom said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online. Speaking at the signing ceremony Anwar Murad the Deputy Group CEO of Banking at Al Salam Bank said: At Al Salam Bank we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com. In addition to this the Visa credit cardholders who are frequent travellers or plan to travel soon can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air s Falconflyer loyalty program for a number of benefits including free flights upgrades lounge access and excess baggage as well as membership upgrades and more he added. Gulf Air chief commercial officer Ahmed Janahi said: We are pleased to offer Al Salam Bank Visa debit and credit cardholders with exclusive discounts that will further enhance their travel experience when flying to any Gulf Air destination. Mohammed Buhijji the acting head of Retail Banking at Al Salam Bank-Bahrain and Kavita Al Jassim the senior manager Customer Experience also attended the signing ceremon y.
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Al Salam Bank-Bahrain a pioneering Shari a-compliant bank in the Kingdom said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online. Speaking at the signing ceremony Anwar Murad the Deputy Group CEO of Banking at Al Salam Bank said: At Al Salam Bank we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com. In addition to this the Visa credit cardholders who are frequent travellers or plan to travel soon can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air s Falconflyer loyalty program for a number of benefits including free flights upgrades lounge access and excess baggage as well as membership upgrades and more he added. Gulf Air chief commercial officer Ahmed Janahi said: We are pleased to offer Al Salam Bank Visa debit and credit cardholders with exclusive discounts that will further enhance their travel experience when flying to any Gulf Air destination. Mohammed Buhijji the acting head of Retail Banking at Al Salam Bank-Bahrain and Kavita Al Jassim the senior manager Customer Experience also attended the signing ceremon y.
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training... Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank s staff. With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF) the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence. The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise it said. Yousif Taqi director and group CEO of Al Salam Bank-Bahrain expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development
Read More
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training...
Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank’s staff.
With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF), the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence.
The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise, it said.
Yousif Taqi, director and group CEO of Al Salam Bank-Bahrain, expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development
Al Salam Bank-Bahrain has partnered with the Bahrain Institute of Banking and Finance (BIBF) to conduct a specialized training programme entitled Retail Banking Academy for the employees of the bank. The programme will include six months of comprehensive courses delivered by international instructors covering topics related to various functions such as customer service salesmanship handling complaints with supreme care staff leadership and management. The programme will further develop the Bank s human capital skills knowledge and service quality with a prime focus on enhancing customer s banking experience. Present at the signing ceremony held at the bank s headquarter office in the Bahrain World Trade Center were Anwar Murad - deputy Group CEO of Banking at Al Salam Bank-Bahrain Dr Ahmed Al Shaikh director of the BIBF along with senior officials from both institutions. We are pleased to cooperate with the BIBF to provide the necessary training and development programs that forms a significant part of our strategy in bolstering our human capital calibre said Murad. Customer care is one of the utmost factors of Al Salam Bank s success and this is in line with our commitment to continuously enhance our customer s experience that complements our diverse selection of unique Shari a-compliant products and services. The program will include a series of training courses workshops as well as CMI advanced professional qualification level which is specifically designed to further boost our employee s performance with the ultimate goal of meeting our valued clients banking needs. We would also like to extend our sincere appreciation to Tamkeen s continued support to such program initiatives that ultimately results in generating value added career progression opportunities and economic development in the Kingdom he added. Dr Al Shaikh said: We are delighted to closely work with Al Salam Bank by providing a tailored training program that is in line with the Bank s human capital development strategy. At the BIBF we always encourage such initiatives by organizations like Al Salam Bank that emphasize the importance of developing their day to day banking activities for customers and by stimulating employees on how to apply the best customer framework practices.
Read More
Al Salam Bank-Bahrain has partnered with the Bahrain Institute of Banking and Finance (BIBF) to conduct a specialized training programme entitled “Retail Banking Academy” for the employees of the bank.
The programme will include six months of comprehensive courses delivered by international instructors covering topics related to various functions such as customer service, salesmanship, handling complaints with supreme care, staff leadership and management.
The programme will further develop the Bank’s human capital skills, knowledge and service quality with a prime focus on enhancing customer’s banking experience.
Present at the signing ceremony held at the bank’s headquarter office in the Bahrain World Trade Center were Anwar Murad - deputy Group CEO of Banking at Al Salam Bank-Bahrain, Dr Ahmed Al Shaikh – director of the BIBF along with senior officials from both institutions.
“We are pleased to cooperate with the BIBF to provide the necessary training and development programs that forms a significant part of our strategy in bolstering our human capital calibre,” said Murad.
“Customer care is one of the utmost factors of Al Salam Bank’s success and this is in line with our commitment to continuously enhance our customer’s experience that complements our diverse selection of unique Shari’a-compliant products and services. The program will include a series of training courses, workshops as well as CMI advanced professional qualification level which is specifically designed to further boost our employee’s performance with the ultimate goal of meeting our valued clients banking needs.
“We would also like to extend our sincere appreciation to Tamkeen’s continued support to such program initiatives that ultimately results in generating value added career progression opportunities and economic development in the Kingdom,” he added.
Dr Al Shaikh said: “We are delighted to closely work with Al Salam Bank by providing a tailored training program that is in line with the Bank’s human capital development strategy. At the BIBF, we always encourage such initiatives by organizations like Al Salam Bank that emphasize the importance of developing their day to day banking activities for customers and by stimulating employees on how to apply the best customer framework practices.”
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has launched an upgraded online banking platform for its individual customers. The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button without the need to visit a branch. The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame. As part of the added security enhancements customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad said the bank. Mohammed Buhijji head of retail banking of Al Salam Bank-Bahrain said: Al Salam Bank first introduced its online banking service to customers in 2007 and I am pleased to announce that the improved and upgraded version of the service which we are launching today offers a much wider range of new services and features including advanced security enhancements such as self-resetting of user password online and OTP services to our beloved customers. Over the years we have been working towards leveraging technology as well as providing convenient and easily accessible banking services through a range of channels such as ATMs the internet and through our mobile banking application that is made available to download from App store and Play store (android) in an attempt to make banking convenient and further boost the customer experience. With our Online Banking and Mobile Banking service we are confident that our customers will have better control of their finances safely quickly and conveniently. This new initiative is in line with our philosophy of keeping the customer s needs as the focal point of our business providing them with an online service that efficiently caters to the ever-changing banking requirements of customers. Customers can enroll for the new online banking service by completing the self-registration process online at www.alsalambahrain.com. Through the improved listing of the Online Banking services customers will be able to view all their account statements financing details accounts and credit card as well as prepaid card transactions add beneficiaries review history of all their online banking transactions at a glance and make their card payments in real-time.
Read More
Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has launched an upgraded online banking platform for its individual customers.
The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button, without the need to visit a branch.
The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame.
As part of the added security enhancements, customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad, said the bank.
Mohammed Buhijji, head of retail banking of Al Salam Bank-Bahrain, said: “Al Salam Bank first introduced its online banking service to customers in 2007, and I am pleased to announce that the improved and upgraded version of the service which we are launching today offers a much wider range of new services and features including advanced security enhancements such as self-resetting of user password online and OTP services to our beloved customers. Over the years, we have been working towards leveraging technology as well as providing convenient and easily accessible banking services through a range of channels such as ATMs, the internet and through our mobile banking application that is made available to download from App store and Play store (android) in an attempt to make banking convenient and further boost the customer experience.
“With our Online Banking and Mobile Banking service, we are confident that our customers will have better control of their finances safely, quickly and conveniently. This new initiative is in line with our philosophy of keeping the customer's needs as the focal point of our business providing them with an online service that efficiently caters to the ever-changing banking requirements of customers.”
Customers can enroll for the new online banking service by completing the self-registration process online at www.alsalambahrain.com.
Through the improved listing of the Online Banking services, customers will be able to view all their account statements, financing details, accounts and credit card as well as prepaid card transactions, add beneficiaries, review history of all their online banking transactions at a glance and make their card payments in real-time.
Al Salam Bank-Bahrain (ASBB) one of the pioneering Shari a-compliant banks in the kingdom has announced that it has successfully taken over the entire business of its subsidiary BMI Bank. Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20 it has approved BMI Bank s request to transfer its entire banking business including all of its assets and liabilities to ASBB. On the move Yousif Taqi the director and group CEO of Al Salam Bank-Bahrain said: We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder s value. ASBB s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio and consistent with this strategy the board of directors is ideally poised to achieve its vision of becoming a regional force in banking & financial industry he stated. Taqi said the bank was committed to facilitate a smooth transition of all BMI Bank businesses which will gradually be transferred to Al Salam Bank. Customers can now take advantage of ASBB s complete range of innovative and unique Shari a-compliant financial products and services through its extended network of branches and ATMs by providing quicker more amalgamated products and services for our Islamic banking customers he added. -TradeArabia News Service
Read More
Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the kingdom, has announced that it has successfully taken over the entire business of its subsidiary BMI Bank.
Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20, it has approved BMI Bank's request to transfer its entire banking business including all of its assets and liabilities to ASBB.
On the move, Yousif Taqi, the director and group CEO of Al Salam Bank-Bahrain said: "We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder’s value."
"ASBB’s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio, and consistent with this strategy the board of directors is ideally poised to achieve its vision of becoming a regional force in banking & financial industry," he stated.
Taqi said the bank was committed to facilitate a smooth transition of all BMI Bank businesses which will gradually be transferred to Al Salam Bank.
Customers can now take advantage of ASBB’s complete range of innovative and unique Shari’a-compliant financial products and services through its extended network of branches and ATMs by providing quicker, more amalgamated products and services for our Islamic banking customers, he added.-TradeArabia News Service
Al Salam Bank-Bahrain a pioneering Shari a-compliant bank in the Kingdom said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online. Speaking at the signing ceremony Anwar Murad the Deputy Group CEO of Banking at Al Salam Bank said: At Al Salam Bank we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com. In addition to this the Visa credit cardholders who are frequent travellers or plan to travel soon can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air s Falconflyer loyalty program for a number of benefits including free flights upgrades lounge access and excess baggage as well as membership upgrades and more he added. Gulf Air chief commercial officer Ahmed Janahi said: We are pleased to offer Al Salam Bank Visa debit and credit cardholders with exclusive discounts that will further enhance their travel experience when flying to any Gulf Air destination. Mohammed Buhijji the acting head of Retail Banking at Al Salam Bank-Bahrain and Kavita Al Jassim the senior manager Customer Experience also attended the signing ceremon y.
Read More
Al Salam Bank-Bahrain, a pioneering Shari’a-compliant bank in the Kingdom, said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online.
Speaking at the signing ceremony, Anwar Murad, the Deputy Group CEO of Banking at Al Salam Bank, said: "At Al Salam Bank, we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com.”
"In addition to this, the Visa credit cardholders, who are frequent travellers or plan to travel soon, can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air’s Falconflyer loyalty program for a number of benefits including free flights, upgrades, lounge access and excess baggage as well as membership upgrades and more," he added.
Gulf Air chief commercial officer Ahmed Janahi, said: "We are pleased to offer Al Salam Bank Visa debit and credit cardholders with exclusive discounts that will further enhance their travel experience when flying to any Gulf Air destination."
Mohammed Buhijji, the acting head of Retail Banking at Al Salam Bank-Bahrain and Kavita Al Jassim, the senior manager, Customer Experience, also attended the signing ceremony.
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Bahrain headquartered-Al Salam Bank has announced the sale of its 20.94% stake in Gulf African Bank the largest Islamic Bank in Kenya. The sale forms part of AL Salam Bank s broader group optimisation strategy to focus on its core markets and expand banking operations a statement said. ASB Capital the group s asset and wealth management arm with AUM of 8.8 billion was appointed by Al Salam Bank as sell-side advisor to provide structuring and execution support. Rafik Nayed Group CEO of Al Salam Bank commented: We are proud of the remarkable journey that Gulf African Bank has undertaken to cement its position as the largest Islamic bank in Kenya. The exit is part of Al Salam Bank s group-wide focus on optimizing holdings and expanding operations in our core strategic markets. Our partnership with ASB Capital to execute this transaction has proven to be an important milestone in delivering maximum value for all parties involved. License...
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Bahrain headquartered-Al Salam Bank has announced the sale of its 20.94% stake in Gulf African Bank, the largest Islamic Bank in Kenya.
The sale forms part of AL Salam Bank's broader group optimisation strategy to focus on its core markets and expand banking operations, a statement said.
ASB Capital, the group’s asset and wealth management arm with AUM of $8.8 billion, was appointed by Al Salam Bank as sell-side advisor to provide structuring and execution support.
Rafik Nayed, Group CEO of Al Salam Bank commented: “We are proud of the remarkable journey that Gulf African Bank has undertaken to cement its position as the largest Islamic bank in Kenya. The exit is part of Al Salam Bank’s group-wide focus on optimizing holdings and expanding operations in our core strategic markets. Our partnership with ASB Capital to execute this transaction has proven to be an important milestone in delivering maximum value for all parties involved.”
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Al Salam Bank has announced record profitability for the nine months ended September 30 marking another milestone in its transformation into one of the region s leading and fast-growing financial groups. Net profit attributable to shareholders increased 37.5% year-on-year to 154.3 million driven by strong performance in core banking operations and disciplined balance sheet management. Correspondingly return on average equity (ROAE) increased to 16.4% in September 2025 up from 15.2% a year earlier while earnings per share rose by 24.4% reaching 45.9 cents compared to 36.9 cents last year. The group s asset base expanded by 14.8% to 21.51 billion in September 2025 compared to 18.73 billion in 2024 underpinned by strong growth of 9.9% in financing assets to 10.67 billion up from 9.71 billion in 2024 and a substantial increase of 33.8% in the fixed income portfolio to 5.14 billion up from 3.84 billion in 2024. Customer deposits...
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Al Salam Bank has announced record profitability for the nine months ended September 30, marking another milestone in its transformation into one of the region’s leading and fast-growing financial groups.
Net profit attributable to shareholders increased 37.5% year-on-year to $154.3 million, driven by strong performance in core banking operations and disciplined balance sheet management.
Correspondingly, return on average equity (ROAE) increased to 16.4% in September 2025, up from 15.2% a year earlier, while earnings per share rose by 24.4%, reaching 45.9 cents compared to 36.9 cents last year.
The group’s asset base expanded by 14.8% to $21.51 billion in September 2025, compared to $18.73 billion in 2024, underpinned by strong growth of 9.9% in financing assets to $10.67 billion, up from $9.71 billion in 2024, and a substantial increase of 33.8% in the fixed income portfolio to $5.14 billion, up from $3.84 billion in 2024.
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Al Salam Bank a leading financial institution in Bahrain has signed a strategic deal with Denodo a global leader in data management AWS and NAIB IT a Bahrain-based systems integrator known for delivering high-impact technology solutions across banking government public sector and enterprise organisations. The agreement aims to adopt the Denodo platform to amplify the Bank s data and AI infrastructure in line with Bahrain s Vision 2030 and the national direction toward digital transformation. The signing ceremony was attended by Shaikha Dr. Dheya Bint Ebrahim Al Khalifa Managing Director at NAIB IT; Anwar Murad Deputy CEO - Banking at Al Salam Bank Hemantha Wijesinghe CTO at Al Salam Bank and Gabriele Obino Denodo Regional Vice President South Europe and Middle East and General Manager Denodo Arabian Limited. Through the Denodo platform Al Salam Bank...
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Al Salam Bank has announced net profits attributable to shareholders of 98.2 million for the six-month period ended June 30 (H1 2025) reflecting an increase of 30.9% from 75 million in H1 2024 and a return on equity of 16.9% up from 15.6% in the previous year. This increase in profitability was predominantly driven by the strong performance of the group s core banking operations. Correspondingly earnings per share increased by 29.0% to USD31.8 cents in H1 2025 compared to USD24.7 cents in H1 2024 the bank said. During the first half of 2025 the group successfully executed a wide range of optimisation initiatives to enhance its operational efficiency which was evident in the reduction noted in the cost-to-income ratio during the period from 49.9% in H1 2024 to 45.3% in H1 2025. The group s balance sheet sustained its upward momentum with total assets risi...
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Al Salam Bank has announced the successful closure of its 450 million additional Tier 1 (AT1) capital issuance reflecting strong investor confidence in the Bahraini bank s financial strength and long-term growth strategy. The issuance which was structured as a private placement and advised by ASB Capital (the Group s asset management and investment banking arm headquartered in the DIFC) attracted substantial demand from regional and international investors. The AT1 Capital issuance forms a key initiative within the Group s broader financial optimisation strategy enhancing its capital position to support future growth plans. Following market leading annual growth exceeding 35% across balance sheet metrics the issuance was designed to further enhance the Group s financial standing and capitalization profile. T...
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Bahrain-based Al Salam Bank has achieved record profitability with net profit attributable to shareholders increasing by 39.8% to 156.5 million for the fiscal year ended December 31 2024 up from 112 million in 2023. The substantial growth in profitability was predominantly driven by the strong performance of the group s core banking operations subsidiaries and associates as well as the successful acquisition of Kuwait Finance House Bahrain (KFH-Bahrain) the group s fifth banking M&A transaction. Maintaining its position as the largest Islamic bank in Bahrain the group s balance sheet expanded significantly with total assets growing by 37.2% to 18.73 billion in 2024 from 13.65 billion in 2023 driven by the successful implementation of key growth initiatives in banking. The group s financing portfolio increased by 36.8% to 9.71 billion w...
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Bahrain-based Al Salam Bank has received the Payment Card Industry Data Security Standard (PCI DSS) Version 4.0 Certification the approved global standard for protecting the security of payment card data. Announcing this Al Salam Bank said the accreditation underscores its commitment to providing clients with a safe and reliable banking experience. The achievement also recognizes the bank s adherence to PCI DSS standards and implementation of the latest technologies designed to enhance clients security data in addition to its continuous efforts to guarantee safe payment card use it stated. On the key achievement Anwar Murad Deputy CEO of Banking said: Al Salam Bank is pleased to have received this global accreditation which reflects our advanced technology in protecting client information. This achievement also stands testament to our success in...
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Al Salam Bank has launched a new campaign for all financing schemes including personal property and auto financing as well as the Ministry of Housing s Mazaya Mazaya 2.0 and Tas heel Social Housing Finance. Through its offering the bank will deliver competitive profit rates in addition to providing new and existing clients with the opportunity to win valuable prizes starting December 24 2023 to February 18 2024. Clients who apply for new financing a top-up on their current financing or transfer their current financing from another bank to Al Salam Bank are eligible to win 6 months of paid installments as per the campaign s T&Cs. Grace period Current and existing clients will also be able to receive their financing and pay their first installment by June 2024 for an optional 6-m...
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Al Salam Bank has partnered with Solidarity Bahrain to launch Al Salam Takaful a comprehensive Shari a-compliant insurance package. Individuals will be able to benefit from fire auto travel domestic helper pleasure craft personal accident insurance group medical health for families while corporations Small and Medium-sized Enterprises (SMEs) will be provided with Takaful coverage for office comprehensive performance bond marine and group medical insurance. Al Salam Takaful product falls under the umbrella of Al Salam Bank s partnership with Solidarity Bahrain. The launch ceremony took place at the bank s headquarters in the presence of Al Salam Bank s Board of Directors Ashraf Bseisu - Group Chief Executive of Solidarity Group Holding Jawad Mohammed - Chief Executive Officer of Solidarity Bahrain and a number of Executive Management members from both institutions...
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Bahrain-based Al Salam Bank has announced a net profit of BD31 million ( 82.24 million) for the first nine months when compared to BD20.29 million ( 53.81 million) for the same period in 2022 thus reflecting a 53% jump mainly driven by the growth in core banking activities and additional earnings. Announcing the results for the nine-month period ended September 30 2023 Al Salam Bank said its earnings per share correspondingly increased to 12.4 fils ( 32.9 cents) in Q3 2023 compared to 8.6 fils ( 22.8 cents) for the same period in 2022. Total operating income for the period stood at BD202.49 million ( 537.11 million) when compared to BD101.05 million ( 268.03 million) for the same period in 2022. Total shareholders equity increased by 8.5% to BD329.04 million ( 872.78 million) period ended September 2023 compared to BD303.25 million ( 804.38 million) as a...
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Al Salam Bank has recently incorporated the UAE Dirham into its Multi-Currency Prepaid Visa Card. The new currency will join other available currencies on the card including the Bahraini Dinar US Dollars Euro British Pound and Turkish Lira. In line with Al Salam Bank s ongoing efforts to provide flexible and convenient payment solutions clients visiting the UAE can now enjoy a seamless shopping experience and make purchases without worrying about unexpected fees or currency exchange rates. Clients can request a Multi-Currency Prepaid Visa Card in any of the available currencies through the mobile application Self Service Kiosks or by visiting any of the Bank s branches. Monthly draws When shopping using the Multi-Currency Prepaid Visa Card through physical outlets or online stores clients will...
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Al Salam Bank has announced the launch of Qaedat a one-of-a-kind learning and development programme that focuses on empowering the bank s female employees. Participants will be taking part in bilingual workshops and training sessions focused on building their self-awareness as well as their personal and professional development. The launch of the programme is in line with the vision of the Supreme Council of Women to empower Bahraini women and support their active participation in various sectors as well as reinforce the national strategy to advance Bahraini women in the community. Over three months more than 150 employees will have the opportunity to engage in a number of educational workshops interactive events panel discussions and seminars designed by The Talent Hub consultants to support their career progression and professional aspirations. The programme comes as part of Al S...
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Al Salam Bank has announced the launch of the second edition of its Retail Academy at the Knowledge Centre located at the bank s headquarters. The academy is designed to equip employees with the essential skills and knowledge required to deliver exceptional client service across all facets of retail banking. Over the course of five months Al Salam Bank will partner with the Bahrain Institute of Banking and Finance (BIBF) as well as Asas Training and Roaa for Training & Consulting to conduct a comprehensive series of training sessions encompassing a wide spectrum of topics pertinent to retail banking and personal skills development. Training modules These training modules cover identifying the features of banking services and products evaluating their alignment with individual client nee...
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Al Salam Bank has launched the 17th edition of its annual summer internship programme for graduates. The two-month programme welcomes 29 students from various reputable local and international universities providing them with practical experience and mentorship opportunities to support their future careers. The programme has been thoughtfully designed to equip interns with a unique training experience encompassing extensive vocational and educational sessions from the bank s various departments. Job market Al Salam Bank aims to hone the skills of this year s participants comprising 16 female and 13 male graduates to enter the competitive job market. In addition to practical training assignments the interns will undergo group projects overseen by experienced in-house mentors. The winning team ...
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Al Salam Bank has launched its newest ATM service enabling clients to use their identification cards to complete their banking transactions. Through the new service clients can view their account balance and withdraw twice a day up to BD1 000 ( 2 663.44) without the use of their ATM card. Clients will be required to enter their ID cards into the ATM to receive an SMS on their registered mobile number containing a One-Time-Password (OTP) to access the account and conduct transactions safely and comfortably. Ideal banking Mohammed Buhijji Head of Retail Banking at Al Salam Bank said: As part of our continuous efforts to offer unique and comfortable banking solutions our newest service aims to facilitate our clients cash withdrawals. This comes as part of our commitment to meet our clients needs and provide them...
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Al Salam Bank has launched its newest ATM service enabling clients to use their identification cards to complete their banking transactions.
Al Salam Bank has announced the acquisition of a majority stake in Al Salam Bank Algeria (ASBA) increasing its shareholding from 37.43% to 53.13% following the purchase of shares from various shareholders. With total assets growing at a compounded annual growth rate (CAGR) of 23.3% since 2010 ASBA is the fastest growing bank in Algeria closing Q1 2023 with total assets of 2.2 billion a financing book of 1.3 billion and a customer deposit base of 1.8 billion. This acquisition represents a significant milestone in Al Salam Bank s growth strategy and further expands its regional presence. The transaction will also strengthen the growth prospects of ASBA which aims to grow its financing book diversify product offerings increase market share and accelerate its digitalization journey a statement said. The banking sector in Algeria boasts strong fundamentals servi...
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Al Salam Bank has announced its sponsorship of an auditorium at the newly developed Injaz Bahrain Academy headquarters. The bank has granted BD25 000 for the auditorium which will accommodate up to 30 people. This initiative comes as part of Al Salam Bank s social responsibility platform Helping Hands established to aid homegrown institutions in support of social causes. The academy offers a roster of business and entrepreneurship programs benefiting more than 80 000 young individuals annually. Injaz Bahrain has also signed a Memorandum of Understanding (MoU) with the Ministry of Labor and Social Development to provide programs and train 1 200 unemployed citizens. Al Salam Bank Deputy CEO of Banking Anwar Murad said: We are pleased to be supporting Injaz Bahrain Academy which aims to achieve sustainable development goals in line with...
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Bahrain-based Islamic bank Al Salam said it has acquired a majority stake in its Algerian subsidiary - Al Salam Bank Algeria (ASBA) by raising its shareholding from 37.43% to 53.13% following the purchase of shares from various shareholders. Announcing the strategic move Al Salam Bank said this was a significant milestone in its growth strategy and would further help expand its regional presence. The transaction will also strengthen the growth prospects of ASBA which aims to grow its financing book diversify product offerings increase market share and accelerate its digitalization journey it stated. ASBA is a leading Sharia-compliant bank established in 2006 with 23 branches across Algeria. Its operations span corporate financing international trade personal financing lease financing property financing and investment accounts. div...
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Al Salam Bank has been named Bank of the Year - Bahrain at The Banker Awards 2022 recognising the bank s commitment to service excellence its diverse portfolio of tailored innovative banking products and its significant contributions to the financial industry and national economy. The prestigious award also recognises Al Salam Bank s successful completion of the 2.2 billion transaction with Ithmaar Holding which includes the acquisition of Ithmaar Bank s consumer banking business expanding Al Salam Bank s client base and cementing its position as Bahrain s largest Islamic bank said a statement. The award also acknowledges Al Salam Bank s robust environmental social and governance (ESG) operational framework aligning with global best practices and contributing to Bahrain s net-zero targets while accelerating its digital transformation initiatives. &nbs...
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Al Salam Bank the largest Islamic bank in Bahrain has reported a net profit attributable to shareholders of BD31.6 million ( 83.8 million) for FY 2022 up 48% over BD21.4 million ( 56.7 million) the previous year mainly driven by the growth in core banking. Announcing the results for the fiscal year ending December 31 2022 Al Salam said its earnings per share increased from BD8.8 fils ( 23 cents) to BD13.5 fils ( 36 cents). Total operating income rose to BD155.4 million ( 412.2 million) last year compared to BD109.7 million ( 291.1 million) for the same period in 2021 thus reflecting a 42% increase. Total shareholders equity increased by 2.4% from BD296.3 million ( 785.8 million) in December 31 2021 to BD303.3 million ( 804.4 million) last year. This growth was mainly due to profit earned during the year offset by reduction in reserve balances. Total ass...
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Al Salam Bank has launched its state-of-the-art self-service kiosk serving clients 24/7 alongside exclusive digital services across the bank s extensive network of branches. The launch marks a milestone for the bank as the first to introduce a self-service banking kiosk fully equipped with the Benefit Company s biometric and e-KYC (Know Your Customer) authentication technology within the kingdom. This comes in line with Al Salam Bank s ongoing commitment to staying ahead of the latest trends in digital technology ensuring the delivery of a refined transformative client experience. Moreover the new service will significantly facilitate a smooth and easy transition as Ithmaar Bank s retail banking clients continue to migrate to Al Salam Bank. Advanced digital technology Powered by adva...
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Al Salam Bank has unveiled a nationwide campaign under the theme of Inspired to Grow celebrating the bank s new chapter of accelerated growth. Inspired by the bank s commitment to supporting the social and financial wellbeing of the local community as well as its Environmental Social and Governance (ESG) obligations the campaign aims to engage the entire community in a tree-planting initiative for a greener Bahrain. A series of Inspired to Grow mall activations began last week at City Centre Bahrain and will continue from November 23 to 26. The launch of the Inspired to Grow campaign follows the bank s successful completion of a 2.2 billion transaction with Ithmaar Holding to acquire Ithmaar Bank s consumer banking business and a selection of other assets which cements Al Salam Bank s position as the kingdom s largest Islamic bank. The transition of Ithm...
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Al Salam Bank one of the pioneering Shari a-compliant banks in Bahrain has seen its nine-month (9M) net profit attributable to shareholders jump 25% to BD20.3 million ( 53.8 million) compared to BD16.2 million in 2021. Correspondingly earnings per share during the nine-month period stood at 8.6 fils ( 23 cents) in 2022 compared to 6.7 fils in 2021 reflecting an increase of 28%. Total operating income for the nine-month period increased by 22% to BD99.3 million compared to BD81.6 million for the same period in 2021. As the first publications of results post the transaction with Ithmaar Holding which included the consumer banking division of Ithmaar Bank the Bank s income statement included one-off items such as the Day 1 ECL charge and other acquisition related adjustments arising from the transaction. Sharehold...
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Bahrain s Al Salam Bank has brought its customers Apple Pay a safer more secure and private way to pay. It helps customers avoid handing their payment card to someone else touching physical buttons or exchanging cash and uses the power of iPhone to protect every transaction it said. Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID Touch ID or device passcode as well as a one-time unique dynamic security code. Apple Pay is accepted in grocery stores pharmacies taxis restaurants coffee shops retail stores and many more places said the bank. Customers can also use Apple Pay on iPhone iPad and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repea...
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Al Salam Bank has launched its latest promotional campaign for its Visa credit and prepaid card holders which will commence on the August 14 to September 21 2022. At the end of the campaign two winners will be awarded with a fully paid trip for two to attend one of FIFA World Cup 2022 matches. The package includes airline tickets hotel accommodation transportation to and from the airport and the match in addition to a BD2 000 ( 5 305) cash prize for each winner. To enter the draw credit and prepaid card holders will qualify once for every transaction made within Bahrain and twice for every transaction conducted internationally or via online platforms. In terms of eligibility all transactions must be conducted during the campaign period. Retail offerings Commenting Mohamed Buhijji Head of Retai...
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Al Salam Bank has announced a net profit attributable to the shareholders of BD7 million ( 18.6 million) for the second quarter of 2022 compared to BD4.6 million ( 12.1 million) for the same period in 2021 a robust increase of 53% primarily driven by an increase in core activities. Correspondingly earnings per share increased by 58% to 3 fils ( 8 cents) compared to 1.9 fils for the same period in 2021. Total operating income for the quarter stood at BD29.2 million compared to BD25.9 million for the same quarter in 2021 reflecting a 13% increase quarter-on-quarter. For the six months period ended June 30 2022 the bank reported a net profit attributable to shareholders of BD13.5 million ( 35.9 million) compared to BD10.7 million ( 28.3 million) for the same period in 2021 reflecting an increase of 27%. Earnings per share increased by 32% to 5.8 ...
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Bahrain s Al Salam Bank in collaboration with 10xDS (Exponential Digital Solutions) has implemented Robotic Process Automation (RPA) solution on Blocked and Unblocked Accounts (BUB) within its compliance framework. This comes as part of the bank s efforts to comply with the regulatory requirements issued by the legislative authorities in Bahrain represented by the Ministry of Justice Islamic Affairs and Waqf and the Central Bank of Bahrain (CBB) with utmost accuracy and efficiency. The implementation of RPA automates high-volume compliance-driven back-end operations which were previously performed manually with this technology Al Salam Bank can better focus on high-impact strategic tasks by freeing up their back-end operations teams. This comes in line with the bank s digitisation strategy adding to its portfolio of digital banking services and products. ...
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Al Salam Bank today opened its newest branch at Al Sayah Square in Busaiteen marking the bank s fourth paperless and fully automated branch in Bahrain. The opening ceremony was attended by Shaikh Khalid bin Mustahail Al Mashani Chairman of the Board of Directors at Al Salam Bank alongside several members from Al Salam Bank s Board of Directors and executive management team. The new branch features advanced digital equipment that include an instant deposit machine 24/7 ATMs alongside an experienced client servicing team to provide clients with a seamless banking experience. The branch s services are fully automated eliminating the need for paper transactions further supporting the bank s commitment to launching Environmental Social and Governance (ESG) initiatives it said. Rafik Nayed Group Chief Executive Officer of Al Salam Ban...
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Bahrain s Al Salam Bank has announced the launch of its employee training programme entitled Al Salam Bahrain Financial Learning Academy . In partnership with various prestigious financial institutions in Sudan and under the guidance of the Bahrain Institute of Banking and Finance (BIBF) the programme will encompass 21 courses and 44 sessions from May 2022 to the end of August 2022 through Microsoft Teams. The programme will cover a number of important topics including: bank and country risk analysis and its latest updates an introduction to Islamic capital markets sukuk and other products cyber security for the financial sector anti-money laundering and compliance financial crimes and fraud prevention as well as familiarising employees with the key aspects of Islamic financing in addition to an overview of sanctions and regulations and the Accounting and Auditing Organisation for Isl...
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Al Salam Bank a leading regional Islamic bank has launched Al Salam Invest a new investment platform available on the bank s mobile application featuring a bi-lingual intuitive user-friendly interface. Al Salam Invest has been released as the latest upgrade to the Bank s mobile application providing Private Banking and Al Ruwad clients with a seamless digital trading experience enabling access to global markets and equities through different asset classes. The digital trading platform provides users with instant digital access to global equities exchange traded funds (ETFs) sukuk and mutual funds all under a Shari a compliant umbrella. The fully integrated Al Salam Bank mobile application will now allow clients to conduct and view their investment trades in real-time oversee their portfolios as well as manage their daily banking transactions through the Bank s mobile application with a few convenient clicks. br...
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Al Salam Bank, a leading regional Islamic bank, has launched Al Salam Invest, a new investment platform available on the bank’s mobile application featuring a bi-lingual, intuitive user-friendly interface.
Al Salam Invest has been released as the latest upgrade to the Bank’s mobile application, providing Private Banking and Al Ruwad clients with a seamless digital trading experience enabling access to global markets and equities through different asset classes.
The digital trading platform provides users with instant digital access to global equities, exchange traded funds (ETFs), sukuk and mutual funds, all under a Shari’a compliant umbrella. The fully integrated Al Salam Bank mobile application will now allow clients to conduct and view their investment trades in real-time, oversee their portfolios, as well as manage their daily banking transactions through the Bank’s mobile application with a few convenient clicks.
Al Salam Bank a leading regional Islamic bank headquartered in Bahrain posted a 7% rise in Q1 net profit attributable to shareholders to BD6.5 million ( 17.3 million) compared to BD6.1 million for Q1 2021. The increase reflects an overall improvement in macroeconomic conditions. Correspondingly earnings per share increased by 12% to 2.8 fils compared to 2.5 fils in Q1 2021. Total operating income for the quarter stood at BD26.0 million reflecting a 7% decrease from the BD28.0 million recorded in first quarter of 2021. Total shareholders equity decreased by 2% from BD296.3 million in 2021 to BD290.2 million at the end of March 2022 as a result of dividends distribution. Financing assets at a record Total assets remained largely unchanged at BD2.7 billi...
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Al Salam Bank a leading Islamic bank in Bahrain has announced the successful handover of the largest number of villas within the final phase of Deerat Al Oyoun located in Diyar Al Muharraq. A ceremony was held recently at Souq Al Baraha to celebrate the record-breaking turnaround time for processing financing applications since the inception of the project said a statement from Al Salam Bank. The villas were handed over to the new owners during a ceremony held at Souq Al Baraha to celebrate the record-breaking turnaround time for processing financing applications since the inception of the project said a statement from Al Salam Bank. The ongoing collaboration between Al Salam Bank the Ministry of Housing and Eskan Bank is aimed at providing affordable housing solutions for Bahraini citizens. Citizens eligible for the Mazaya progra...
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Al Salam Bank recently launched a new line of corporate cards specifically designed to cater to the needs of corporate entities and micro small and medium enterprises (MSMEs) across Bahrain. The cards can be used through the bank s self-service portal enabling clients to issue and manage card limits without having to visit a branch. The initiative comes in line with Al Salam Bank s digital-first mindset which revolves around effectively utilising the latest advancements in technology to offer clients a convenient and seamless banking experience. Uniquely catered Ahmed Murad Head of Corporate Banking at Al Salam Bank said: At Al Salam Bank we have always sought to provide a transformative experience through quality services designed with our distinguished clients in mind a...
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Al Salam Bank has launched its new Shop & Win campaign this Ramadan season that offers clients in Bahrain an opportunity to win BD100 ( 263.5 million) every day simply by using their credit or prepaid cards to conduct purchases of BD1 or above at any grocery store across the kingdom until April 30. This comes in line with Al Salam Bank s promise of nurturing its client relationships by providing enriching and rewarding experiences said a statement from the bank. The bank has allocated 30 cash prizes for its credit and prepaid card campaign where draws will be made on weekly basis announcing one winner for each day of the entire holy month. Card users have greater chances of winning as per the terms and conditions by increasing the number of transactions made using Al Salam Bank s cards it stated. These cards are a quick...
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Bahrain s Al Salam Bank has launched a new promotional campaign for 2022 which entails a revamped version of the financing campaign offering competitive profit rates and low monthly instalment amounts. This is available for all types of financial schemes including Mazaya personal auto and real estate financing. The campaign will begin on March 1 and end on April 1. The revamped scheme was launched on the heels of the last financing campaign which was launched during the last quarter of 2021 in October in light of the incredible success witnessed by the former campaign despite the consequences of the ongoing pandemic. In the first version of the campaign clients had the chance to win a Tesla car when submitting for new financing applications in addition to doubling their loyalty reward points until February 19 2022. In line with the Bank s promise to continually nurture long-standing relationships with its clients de...
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Bahrain’s Al Salam Bank has launched a new promotional campaign for 2022, which entails a revamped version of the financing campaign offering competitive profit rates and low monthly instalment amounts.
This is available for all types of financial schemes, including Mazaya, personal, auto, and real estate financing. The campaign will begin on March 1 and end on April 1.
The revamped scheme was launched on the heels of the last financing campaign, which was launched during the last quarter of 2021 in October, in light of the incredible success witnessed by the former campaign despite the consequences of the ongoing pandemic.
In the first version of the campaign, clients had the chance to win a Tesla car when submitting for new financing applications in addition to doubling their loyalty reward points until February 19, 2022. In line with the Bank’s promise to continually nurture long-standing relationships with its clients de...
Al Salam Bank a leading regional Islamic bank based in Bahrain has reported a net profit attributable to shareholders of BD21.4 million ( 56.7 million) for FY 2021 compared to BD9.1 million ( 24.2 million) the year before marking an increase of 134%. Announcing the results for the 12-month period ended December 31 2021 Al Salam Bank said the earnings per share stood at 9.1 fils compared to 3.9 fils for the same period in 2020 reflecting a year-on-year growth of 133%. Total operating income for the twelve months period also increased by 11.1% to BD 107.3 million ( 284.5 million) compared to BD 96.6 million ( 256.2 million) for the same period in 2020. Total shareholders equity increased by 5.5% from BD 280.8 million ( 744.8) in 2020 to BD 296.3 million ( 785.8) at the end of December 2021. Total assets increased by 19% during 2021 to BD 2.7 billion ( 7...
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Al Salam Bank and Ithmaar Holding have agreed the acquisition by Al Salam Bank of the consumer banking business of Ithmaar Bank and Ithmaar Holdings ownership stake in both Bank of Bahrain and Kuwait (BBK) and Solidarity Group Holding. Solidarity Group is one of the largest takaful groups globally and the parent of Solidarity Bahrain. This announcement follows the execution of a memorandum of understanding between the two entities in October 2021. The transaction remains subject to the approval of Ithmaar Holding s shareholders and the signing of definitive agreements. Ithmaar Bank an integral player in the development of Islamic finance in Bahrain and the wider region will remain to be a wholly-owned subsidiary of Ithmaar Holding and will continue its journey as an innovative and agile Sharia compliant banking institution post this strategic transaction maintaining...
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Al Salam Bank-Bahrain has signed a memorandum of understanding (MoU) and entered into discussions with Ithmaar Holding for the potential acquisition by Al Salam Bank of a group of assets from Ithmaar Holding s group of companies. Al Salam Bank is keen to maintain its growth trajectory and these discussions with Ithmaar Holding on a potential group of assets would complement Al Salam Bank s existing business lines said a joint statement. The potential acquisition will be subject to the completion of successful due diligence the agreement of terms between both parties and the receipt of all necessary regulatory and corporate consents it said. Shaikh Khalid bin Mustahil Al Mashani Chairman of Al Salam Bank Bahrain said: Al Salam Bank has a robust track record in the M&A space evidenced by the successful acquisition and integration of Bahrain Sa...
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Leading Bahrain bank Al Salam has unveiled its new values and guiding principles under a new Brand DNA thus embarking on a new era and a new visionary journey. The Bahraini Bank s new DNA comprises revived brand values that support its collaborative work culture as well as the following Guiding Principles; We Enchant our Clients We Inspire Our People. We are Digitally Native We Do the Right Thing and We Act with Empathy. An exclusive key-note event was held at the glittering Bahrain National Theatre one of the largest theatres in the Arab world to mark the event in the presence of its board of directors and executive management and the bank s employees. Addressing the gathering Group CEO Rafik Nayed said: With the introduction of our new Brand DNA we are embarking on a new era and a new visionary journey. It s given rise to a more conscio...
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Al Salam bank has launched its corporate banking online platform allowing corporate clients to process their daily financial transactions online through a fully digital interface. The platform is fully developed by a skilled innovation team of young Bahraini nationals at Al Salam Bank. This unique online platform comes armed with advanced features for swift business operations with an easy-to-use interface. The comprehensive platform allows corporate clients to view Al Salam Bank s products and services conduct various banking transactions such as processing intra-bank local and international payments employee payroll statement requests as well as initiate Wakala Deposit investments in a single click. Corporate and business banking clients using the platform will also stand to benefit from a host of other features including unlimited daily approvals on plat...
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Al Salam Bank Bahrain has reported a 50 per cent jump in its net profit attributable to shareholders for the first half which soared to BD10.7 million ( 28.3 million) from the previous year s figures of BD 7.1 million ( 18.8 million). Announcing the results for the six-month period ending June 30 Al Salam Bank Bahrain said the increase in net profit was attributable to higher growth within the bank s core activities in 2021. The corresponding earnings per share for the period stood at 4.6 fils in 2021 compared to 3fils last year thus reflecting an increase of 53.3%. Total operating income increased by 7.6% to BD54 million ( 143.2 million) compared to BD50.2 million ( 133.1 million) last year. Total shareholders equity increased by 4.9% from BD 280.8 million ( 744.7 million) in 2020 to BD 294.4 million ( 780.9 million) at ...
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Al Salam Bank Bahrain a leading regional Islamic bank has announced the launch of its one of a kind Danat eGifting service that allows clients the ability to send cash e-gifts to family and friends either existing accountholder or non-accountholder in the Danat Savings Scheme. The service which is facilitated through a fully digital process using the bank s application gives clients the ability to send cash e-gift vouchers in the range of BD5 to BD6 000 ( 13 to 15 821) which can be redeemed into recipients Danat Savings accounts. The launch of the Danat eGift service comes in line with the bank s commitment to providing its clients with end-to-end secure digital money transfer services without the need of ever visiting a branch. The service additionally provides clients the opportunity to enter draws to win life changing prizes unde...
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Bahrain-based Al Salam Bank said it has recently signed a MoU with Era Projects real estate company to provide special property financing facilities for villas in the Era Homes project located in Diyar Al Muharraq. The MoU outlines Al Salam Bank s provision of property financing facilities to customers interested in purchasing a home in the project offering notably competitive profit rates and flexible terms to applicants. Eligibility to apply is open to all Bahraini citizens Mazaya Scheme beneficiaries GCC residents as well as expatriates given the freehold nature of the project. On the key agreement Al Salam Bank Deputy CEO Anwar Murad said: We are pleased to enter this agreement with Era Projects to provide unmatched property financing facilities for the Era Homes project in Diyar Al Muharraq ultimately enabling residents to own homes with ease. /d...
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Diyar Al Muharraq one of the largest real estate companies in Bahrain has announced signing a MoU with Al Salam Bank to provide exclusive financing offers to buyers interested in purchasing property in any of the masterplan s projects extending to citizens as well as expatriates looking to invest in freehold projects. The MoU outlines the provision of special financing offers from Al Salam Bank on all projects within the Diyar Al Muharraq masterplan with special emphasis on the Mozoon residential plots project. This partnership comes as part of Diyar Al Muharraq s ongoing commitment to provide housing solutions to all customer segments to support their investment goals whether residential or commercial. Al Salam Bank has always distinguished itself through the diversity and flexibility of its financing solutions particularly with its property financing faci...
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Al Salam Bank has signed a Memorandum of Understanding with Eskan Bank and the Ministry of Housing under the Mazaya social housing scheme. It will offer its clients with competitive property financing facility for the purchase of their dream home in the Danaat Al Baraka project located in Jannusan area. On the occasion Rafik Nayed Group Chief Executive Officer of Al Salam Bank Bahrain said: The Mazaya scheme is a significant initiative that elegantly offers housing solutions to eligible applicants and Al Salam Bank facilitates a highly efficient and flexible financing processes streamlining the delivery and handover of homes. We look forward to continuing our joint initiatives and active collaboration with the Ministry of Housing and Eskan Bank. We are pleased with our distinguished partnership with Al Salam Bank Bahrain which enable a wide range of customers the opportunity...
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Al Salam Bank a pioneering Shari a-compliant Bank in Bahrain has launched a new Corporate Deposit Card providing maximum security for micro small and medium enterprises and corporate clients by only permitting deposits. The card is available to corporates with no added cost with clients being able to deposit up to BD6 000 ( 15 772.6) daily per account. The Corporate Deposit Card can be used at any of the deposit machines and smart ATM s available 24/7 across Al Salam Bank s network in the Kingdom of Bahrain without ever needing to visit a branch. Commenting on the introduction of the new card Head of Corporate Banking at Al Salam Ahmed Murad said: We are proud to continuously provide our clients a range of products and services that meet their business requirements. With the launch of the Corporate Deposit Card our clients will be able to make deposits around the clock at th...
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Al Salam Bank-Bahrain has reported net profit attributable to shareholders of BD6.1 million ( 16.15million) in the first quarter of 2021 compared to BD2.5 million ( 6.7million) in the first quarter of 2020 reflecting an increase of 144%. The increase in net profit was attributable to higher growth within the bank s core activities Al Salam said in a statement. Correspondingly earnings per share stood at 2.6 fils in the first quarter compared to 1.1 fils for the same period in 2020 reflecting an increase of 136%. Total operating income for the quarter stood at BD28 million ( 74.3 million) a 17% increase from BD23.9 million ( 63.4 million) recorded in Q1 2020. Total shareholders equity increased by2.1% from BD280.8 million ( 744.8million) in2020 to BD286.7 million ( 760.5 million) at the end of March 2021 primarily due to the profit earned during the period. Total assets recorded strong growt...
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Al Salam Bank-Bahrain has reported net profit attributable to shareholders of BD6.1 million ($16.15million) in the first quarter of 2021 compared to BD2.5 million ($6.7million) in the first quarter of 2020, reflecting an increase of 144%.
The increase in net profit was attributable to higher growth within the bank’s core activities, Al Salam said in a statement.
Correspondingly, earnings per share stood at 2.6 fils in the first quarter compared to 1.1 fils for the same period in 2020, reflecting an increase of 136%. Total operating income for the quarter stood at BD28 million ($74.3 million) – a 17% increase from BD23.9 million ($63.4 million) recorded in Q1 2020.
Total shareholders’ equity increased by2.1% from BD280.8 million ($744.8million) in2020 to BD286.7 million ($760.5 million) at the end of March 2021, primarily due to the profit earned during the period.
Total assets recorded strong growt...
Al Salam Bank recently announced the opening of its new flagship branch in Hidd Muharraq. The new branch will offer the Bank s full range of Shari a- compliant banking services to the area further strengthening the Bank s nation-wide network of 10 branches and 30 ATMs. In line with the Bank s ongoing digitisation strategy the new flagship branch features a dedicated Al Ruwad Business Centre and provides 24/7 banking services via its self-service online banking kiosk instant bulk cash deposit machine (CDM) and Automated Teller Machines (ATM). Commenting on the launch Rafik Nayed Group CEO of Al Salam Bank said: It is currently a challenging period for the banking industry at large but thanks to our ongoing strategy we already had the requisite groundwork and contingencies in place which allowed us to better navigate the disruptive impac...
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Al Salam Bank Bahrain (Al Salam Bank) said it has been awarded the JP Morgan 2020 STP Recognition Award in the Elite Quality Recognition category for the bank s demonstrated success in achieving operational efficiency exceptional performance in funds transfers and best-in-class Straight Through Processing (STP) rates. JP Morgan which has stringent STP performance standards for these awards said less than 1% of its total funds transfer clients qualified for the Quality Recognition Award in 2020. Al Salam Bank emerged with an exceptional STP rate of 99.7% for the MT103 message type an accomplishment which in the wake of a pandemic solidifies the bank s reputation as an agile financial institution and a solid industry player in Bahrain and the wider Mena region. The award was presented to Al Salam Bank - Bahrain Group CEO Rafik Nay...
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Al Salam Bank-Bahrain reported a net profit attributable to shareholders of BD1.1 million ( 2.8 million) in the fourth quarter (Q4) of 2020 compared to BD3.9 million ( 10.3 million) in Q4 2019 a decline of 72%. Correspondingly earnings per share stood at 0.5 fils in the fourth quarter compared to 1.8 fils for the same period of 2019 reflecting a decrease of 72%. For the year ended December 31 2020 the bank reported a 57% decrease in net profit attributable to shareholders amounting to BD9.1 million ( 24.2 million) compared to the BD21.1 million ( 56 million) in 2019. The corresponding earnings per share during the 12-month period stood at 4.3 fils in 2020 compared to 9.7 fils in 2019 reflecting a decrease of 56%. The bank s prudent provisioning approach in response to the implications of Covid-19 resulted ...
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Al Salam Bank - Bahrain (Al Salam Bank) recently announced the launch of its exclusive Loyalty Rewards Scheme the first of its kind in the kingdom which aims to reward all customer banking transactions. The scheme is designed to reward customers for daily transactions with loyalty points being earned on all banking services namely maintaining a monthly balance in an account opening a Wakala account availing new financing facilities topping up financing facilities as well as transactions on prepaid or credit cards. With the Loyalty Rewards Scheme customers also have the potential to receive points using any of the Bank s online channels or by signing up for electronic statement or the various products and services offered by Al Salam Bank. Customers may then redeem their collected points in exchange for a wide range of rewards and benefits including cash-back options Gulf Air miles hotel reservations airline tickets...
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Al Salam Bank a pioneering Shari a-compliant Bank in Bahrain has announced the launch of its latest personal and property financing solutions as part of an entirely new campaign. The campaign which will run until May 15 offers 10 lucky winners the chance to win back up to six months of installments and a golden opportunity of benefiting from a grace period of up to one-year during this promotional period. The newly-introduced campaign will run over two periods the first of which will feature two prizes per month where a total of six winners will be announced. The second period will take place during the holy month of Ramadan where the bank will announce weekly winners a total of four winners. The promotional campaign caters to both Bahraini and non-Bahraini residents in the Kingdom including Mazaya scheme applicants as well as new and existing customers of Al Salam Bank s personal financing...
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FlexxPay a social impact technology company with offices in Europe and the GCC and Al Salam Bank one of the largest financial institutions in the Kingdom of Bahrain have signed a cooperation agreement to offer innovative employee benefit solutions to businesses and government entities in the kingdom. The Sharia compliant solution will give employees and pensioners access to a portion of their earned income whenever they want. Salaries commissions pensions end of service benefits all of these will be accessible to anyone at any point of time through the FlexxPay platform in a user friendly and secure environment. Al Salam Bank will cover all banking related services while FlexxPay will focus on technology and user experience. The cooperation reinforces Al Salam Bank s position as a leader in innovative banking services in Bahrain and expands FlexxPa...
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FlexxPay a social impact technology company with offices in Europe and the GCC and Bahrain-based Al Salam Bank have signed a co-operation agreement in bid to offer innovative employee benefit solutions to businesses and government entities in the kingdom. The sharia compliant solution will give employees and pensioners access to a portion of their earned income whenever they want. Salaries commissions pensions end of service benefits all of these will be accessible to anyone at any point of time through the FlexxPay platform in a user friendly and secure environment. Al Salam Bank will cover all banking related services while FlexxPay will focus on technology and user experience. The cooperation reinforces Al Salam Bank s position as a leader in innovative banking services in Bahrain and expands FlexxPay s customer portfolio in the countr...
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Bahrain-based Al Salam Bank recently announced the appointment of Mahmood Qannati as Head of the Bank s Marketing & Communications department. Rafik Nayed Group Chief Executive Officer (CEO) revealed: We are pleased to welcome Mahmood Qannati to our executive team at Al Salam Bank and wish him all the success in his new position as Head of Marketing and Communications. Mahmood has an earned track record in strategic marketing and we are confident that he will bring along his creative passion while implementing the requisite communication outreach programs that will enable the Bank to reach to even greater heights. A seasoned banker with over 20 years of extensive experience in Marketing Communications and Branding on both local and regional levels Mahmood Qannati is a veteran of the communications industry; having worked across various sectors including Banking Finance Automotive A...
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Bahrain-based Al Salam Bank has announced the appointment of Shaikh Khalid Bin Mustahail Al Mashani as the chairman of the Board of Directors. He succeeds Khaleefa Butti Bin Omair Bin Yousif Al Muhairi who submitted his resignation as chairman and board member of the bank. Commenting on the resignation of Al Muhairi Sheikh Khalid said: We regret to announce the resignation of our colleague Al Muhairi as chairman and board member for personal reasons. We would like to take this opportunity to put on record our sincere thanks to Al Muhairi for his instrumental contribution to achieving the bank s objectives during his chairmanship since 2018. During his tenor the bank was successful in acquiring market share increasing profitability and growing the deposit base& financing book. We as Board of Directors would like to confirm that the bank will continue its solid strides ...
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Bahrain-based Al Salam Bank has announced the appointment of Shaikh Khalid Bin Mustahail Al Mashani, as the chairman of the Board of Directors.
He succeeds Khaleefa Butti Bin Omair Bin Yousif Al Muhairi, who submitted his resignation as chairman and board member of the bank.
Commenting on the resignation of Al Muhairi, Sheikh Khalid said: “We regret to announce the resignation of our colleague, Al Muhairi, as chairman and board member for personal reasons. We would like to take this opportunity to put on record our sincere thanks to Al Muhairi for his instrumental contribution to achieving the bank’s objectives during his chairmanship since 2018. During his tenor, the bank was successful in acquiring market share, increasing profitability, and growing the deposit base& financing book.”
“We, as Board of Directors, would like to confirm that the bank will continue its solid strides ...
Al Salam Bank-Bahrain has officially opened its newest branch at Al Raya Mall in Riffa offering 24-hour eBanking services and a drive-through ATM. The opening ceremony was held in the presence of the executive director of Banking Supervision at the Central Bank of Bahrain (CBB) Khalid Hamad Abdulrahman Group CEO Rafik Nayed deputy CEO Anwar Murad and other key members of the Executive Management. The Bahrain National Football Team players were among the VIP guests and were each awarded BD1 000 ( 2.636) which went towards Danat Savings Scheme accounts as valuable prizes to commemorate their Arabian Gulf Cup victory. The awards also entitle each team player to enter the 1.5 million Al Dana draw the Kingdom s largest cash prize. Al Salam Bank also awarded Sayed Mohammed Jaffar team captain a luxury car for receiving the highest number of votes in a Bank social media competition held during the Cup final. Replacing the...
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Al Salam Bank-Bahrain has officially opened its newest branch at Al Raya Mall in Riffa, offering 24-hour eBanking services and a drive-through ATM.
The opening ceremony was held in the presence of the executive director of Banking Supervision at the Central Bank of Bahrain (CBB) Khalid Hamad Abdulrahman, Group CEO Rafik Nayed, deputy CEO Anwar Murad and other key members of the Executive Management.
The Bahrain National Football Team players were among the VIP guests, and were each awarded BD1,000 ($2.636) which went towards Danat Savings Scheme accounts as valuable prizes to commemorate their Arabian Gulf Cup victory.
The awards also entitle each team player to enter the $1.5 million Al Dana draw, the Kingdom’s largest cash prize. Al Salam Bank also awarded Sayed Mohammed Jaffar, team captain, a luxury car for receiving the highest number of votes in a Bank social media competition, held during the Cup final.
Replacing the...
Al Salam Bank-Bahrain has announced its support to OMP Racing one of the world s leading motorsport safety equipment company in its acquisition of Bell Racing Helmets International the world s top manufacturer of head protection for motorsport drivers. The combination of OMP s extensive product line and Bell Helmets world-renowned helmets gives the group an unrivaled and comprehensive product offering said the Bahrain-based bank in its statement. With the backing of Al Salam Bank OMP Racing is planning to expand its operations in Bahrain including the manufacturing of a wide range of Bell and OMP branded products from the group s 2000 product line it stated. The group s Bahrain headquarters in Sakhir will play a key strategic role in operations and R&D (research and development) and will be further supported by world class facilities and distribution networks in Italy Belgium and the US it added. b...
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Al Salam Bank-Bahrain has announced its support to OMP Racing, one of the world's leading motorsport safety equipment company, in its acquisition of Bell Racing Helmets International, the world's top manufacturer of head protection for motorsport drivers.
The combination of OMP's extensive product line and Bell Helmets' world-renowned helmets gives the group an unrivaled and comprehensive product offering, said the Bahrain-based bank in its statement.
With the backing of Al Salam Bank, OMP Racing is planning to expand its operations in Bahrain including the manufacturing of a wide range of Bell and OMP branded products from the group's 2000+ product line, it stated.
The group's Bahrain headquarters in Sakhir will play a key strategic role in operations and R&D (research and development) and will be further supported by world class facilities and distribution networks in Italy, Belgium, and the US, it added.
Al Salam Bank-Bahrain a pioneering Shari a-compliant bank in the kingdom has announced the launch of a new summer offer on its range of Visa credit and prepaid cards. Running from June 18 to August 31 the campaign offers 10% cash back to the top 12 cardholders who use their cards the highest number of times while travelling abroad or shopping online. The promotion builds on the success of a pre-summer promotion this year which saw 10 cardholders win 5% cash back on their international transactions said the bank. Al Salam Bank s head of retail banking Mohammed Buhijji said: Al Salam Bank-Bahrain always looks for innovative ways to reward its loyal customers. We received such an overwhelmingly positive response to our pre-summer campaign that we decided to carry it forward into the summer with bigger rewards. Using credit and prepaid cards is both more convenient and safer for tr...
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Al Salam Bank-Bahrain (ASBB) the pioneering shari a-compliant bank in the kingdom has joined hands with Arab Financial Services the region s leading FinTech enabler and payment services provider for the official launch of the first digital payroll solution Al Rateb. The product was unveiled at a key event held at the Jumeirah Royal Saray Bahrain yesterday (April 17) in the presence of senior government officials and dignitaries. The reception was an opportunity for decision makers to have a hands-on experience of the Al Rateb wage protection solution said the statement from ASBB. Guests witnessed the unveiling of the exclusive first Al Rateb mobile ATM van which will be moving between various locations across the Kingdom of Bahrain to service employees and facilitate access to an ATM machine. ASBB and Arab Financial Services officials commemorated the following corporate clients of ...
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Al Salam Bank-Bahrain (ASBB), the pioneering shari’a-compliant bank in the kingdom, has joined hands with Arab Financial Services, the region’s leading FinTech enabler and payment services provider, for the official launch of the first digital payroll solution ‘Al Rateb.’
The product was unveiled at a key event held at the Jumeirah Royal Saray, Bahrain yesterday (April 17) in the presence of senior government officials and dignitaries.
The reception was an opportunity for decision makers to have a hands-on experience of the Al Rateb wage protection solution, said the statement from ASBB.
Guests witnessed the unveiling of the exclusive first Al Rateb mobile ATM van, which will be moving between various locations across the Kingdom of Bahrain to service employees and facilitate access to an ATM machine.
ASBB and Arab Financial Services officials commemorated the following corporate clients of ...
Al Salam Bank-Seychelles (ASBS) a joint venture between Al Salam Bank-Bahrain (ASBB) and the Seychelles Pension Fund (SPF) has officially launched its full commercial banking services. The inauguration ceremony held at the bank s headquarters in the capital Victoria under the patronage of Danny Faure the President of the Republic of Seychelles and in the presence of Ambassador Maurice Loustau-Lalanne Minister of Finance Trade Investment & Economic Planning Hussein Al Meeza chairman of ASBS Lekha Nair vice chairperson of ASBS and CEO of SPF and Rafik Nayed CEO of ASBB. Ambassador Lalanne commended Al Salam Bank for taking the lead in introducing a distinguished banking experience to Seychelles and congratulated both Al Salam Bank-Bahrain and Seychelles Pension Fund for taking the initiative to extend banking services in the country. Al Meeza emphasized that the launch is in line with the bank s strategy to ...
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Al Salam Bank-Seychelles (ASBS), a joint venture between Al Salam Bank-Bahrain (ASBB) and the Seychelles Pension Fund (SPF), has officially launched its full commercial banking services.
The inauguration ceremony held at the bank’s headquarters in the capital, Victoria, under the patronage of Danny Faure, the President of the Republic of Seychelles, and in the presence of Ambassador Maurice Loustau-Lalanne, Minister of Finance, Trade, Investment & Economic Planning, Hussein Al Meeza, chairman of ASBS, Lekha Nair, vice chairperson of ASBS and CEO of SPF, and Rafik Nayed, CEO of ASBB.
Ambassador Lalanne commended Al Salam Bank for taking the lead in introducing a distinguished banking experience to Seychelles and congratulated both Al Salam Bank-Bahrain and Seychelles Pension Fund for taking the initiative to extend banking services in the country.
Al Meeza emphasized that the launch is in line with the bank’s strategy to ...
Al Salam Bank-Bahrain (ASBB) a leading Shari a-compliant bank in Bahrain has launched its new and upgraded mobile banking solution with India-based Clayfin s Mobile Banking Solution to offer a superior mobile user experience. The new mobile banking app has also ensured a seamless omnichannel experience for customers across its digital channels. Anwar Murad first deputy CEO of Al Salam Bank-Bahrain said: Al Salam Bank was the first in the Kingdom to launch the mobile banking application service back in 2011 and since its inception the Bank continued its commitment to strengthening its digital presence bringing banking services to the customers finger tips within the comfort of their homes or offices having access of a more simplified banking made available at all times. We are delighted to partner with Clayfin to deliver our enhanced mobile banking application with technological advancements filled with la...
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Al Salam Bank-Bahrain (ASBB), a leading Shari'a-compliant bank in Bahrain, has launched its new and upgraded mobile banking solution with India-based Clayfin's Mobile Banking Solution to offer a superior mobile user experience.
The new mobile banking app has also ensured a seamless omnichannel experience for customers across its digital channels.
Anwar Murad, first deputy CEO of Al Salam Bank-Bahrain, said: "Al Salam Bank was the first in the Kingdom to launch the mobile banking application service back in 2011 and since its inception, the Bank continued its commitment to strengthening its digital presence bringing banking services to the customers' finger tips within the comfort of their homes or offices, having access of a more simplified banking made available at all times.
“We are delighted to partner with Clayfin to deliver our enhanced mobile banking application with technological advancements filled with la...
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has signed a memorandum of understanding (MoU) with Kingdom Projects to facilitate financing solutions for customers wishing to buy villas in the latter s Janayin Al Hamala project in Hamala Bahrain. The project comprises 148 luxurious villas ready to deliver that are designed to meet the requirements of a modern Bahraini family. It has five types of villas offering four bedrooms. The project includes residential villas that fit the criteria of Mazaya programme (formerly known as Social Housing Financing Programme) from the Ministry of Housing said a statement. Present at the signing ceremony held at the bank s headquarters in the Bahrain World Trade Center were Anwar Murad first deputy CEO of Al Salam Bank-Bahrain and senior officials from the Kingdom Projects. /d...
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Al Salam Bank-Bahrain (ASBB) one of the pioneering Shari a-compliant banks in the Kingdom has appointed Rafik Nayed as Group chief executive officer (CEO) of the bank following regulatory approvals. Chairman of the Board of Directors of ASBB Khaleefa Butti Bin Omair Al Muhairi said: We are pleased to welcome Rafik Nayed to Al Salam Bank and wish him success in his new position as Group CEO. Rafik has a proven international track record in banking and finance as well as the necessary expertise which we are confident will give the Bank the momentum to reach new heights in Bahrain and beyond. Nayed is a seasoned banker with over 25 years experience. He joins Al Salam Bank from Deutsche Bank where he was most recently the Vice Chairman of the Mena region chief country officer for the UAE and senior executive officer of Deutsche Bank AG Dubai (DIFC). It is an honour to join Al Salam Bank a successfu...
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Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the Kingdom, has appointed Rafik Nayed as Group chief executive officer (CEO) of the bank following regulatory approvals.
Chairman of the Board of Directors of ASBB Khaleefa Butti Bin Omair Al Muhairi said: "We are pleased to welcome Rafik Nayed to Al Salam Bank and wish him success in his new position as Group CEO. Rafik has a proven international track record in banking and finance as well as the necessary expertise which we are confident will give the Bank the momentum to reach new heights in Bahrain and beyond.”
Nayed is a seasoned banker with over 25 years’ experience. He joins Al Salam Bank from Deutsche Bank where he was most recently the Vice Chairman of the Mena region, chief country officer for the UAE and senior executive officer of Deutsche Bank AG Dubai (DIFC).
“It is an honour to join Al Salam Bank, a successfu...
Al Salam Bank-Bahrain (ASBB) one of the pioneering shari a-compliant banks in the kingdom has announced it s newly elected board of directors under the chairmanship of Khaleefa Butti Bin Omair Almuhairi. The announcement comes following the recent Annual General Ordinary Meeting held on March 22 at the Four Seasons Hotel Bahrain. The other board members are Shaikh Khalid bin Mustahail Al Mashani Matar Mohamed Al Blooshi Hussein Mohammed Al Meeza Khalid Salem Al Halyan Salman Saleh Al Mahmeed Salim Abdullah Al Awadi Zayed Ali Al Amin Alhur Mohammed Al Suwaidi and Khalid Shehab Eddin Madi for the upcoming term from March 2018 March 2021. Following the AGM the board members unanimously elected Almuhairi as the chairman and Al Mashani as the vice-chairman. Addressing the shareholders at the AGM Almuhairi said: On behalf of the board of directors I take this opportunity to extend our tha...
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Al Salam Bank-Bahrain (ASBB), one of the pioneering shari’a-compliant banks in the kingdom, has announced it’s newly elected board of directors under the chairmanship of Khaleefa Butti Bin Omair Almuhairi.
The announcement comes following the recent Annual General Ordinary Meeting held on March 22 at the Four Seasons Hotel, Bahrain.
The other board members are Shaikh Khalid bin Mustahail Al Mashani, Matar Mohamed Al Blooshi, Hussein Mohammed Al Meeza, Khalid Salem Al Halyan, Salman Saleh Al Mahmeed, Salim Abdullah Al Awadi, Zayed Ali Al Amin, Alhur Mohammed Al Suwaidi and Khalid Shehab Eddin Madi for the upcoming term from March 2018 – March 2021.
Following the AGM, the board members unanimously elected Almuhairi as the chairman and Al Mashani as the vice-chairman.
Addressing the shareholders at the AGM, Almuhairi, said: "On behalf of the board of directors, I take this opportunity to extend our tha...
AFS the region s leading FinTech enabler and payment services provider and Al Salam Bank-Bahrain have signed an MOU with Lanterns Lounge and Restaurant group to roll out a Digital Payroll Program benefiting both the group as well as its employers. This is in line with the government s initiative to ensure a wage protection system for employees of the private sector announced recently. Anwar Murad first deputy CEO of Banking at Al Salam Bank B. Chandrasekhar CEO of AFS and Sanjeev Kapur director of Lanterns were present at the signing at Al Salam Bank headquarters in Bahrain. Murad said: We had entered into a strategic partnership with AFS to introduce a digital payroll solution in Bahrain earlier in line with the government s initiative announced recently. The program has been specifically designed to facilitate a large number of employers with a more convenient automated and secured payment solution to credit emplo...
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AFS, the region’s leading FinTech enabler, and payment services provider, and Al Salam Bank-Bahrain have signed an MOU with Lanterns Lounge and Restaurant group to roll out a Digital Payroll Program benefiting both the group as well as its employers.
This is in line with the government’s initiative to ensure a wage protection system for employees of the private sector announced recently. Anwar Murad, first deputy CEO of Banking at Al Salam Bank, B. Chandrasekhar, CEO of AFS, and Sanjeev Kapur, director of Lanterns, were present at the signing at Al Salam Bank headquarters in Bahrain.
Murad said: “We had entered into a strategic partnership with AFS to introduce a digital payroll solution in Bahrain earlier, in line with the government’s initiative announced recently. The program has been specifically designed to facilitate a large number of employers with a more convenient, automated and secured payment solution to credit emplo...
Al Salam Bank-Bahrain a pioneering shari a-compliant bank in the kingdom has announced the launch of its full-service branch in Salmabad to cater to its fast growing business and residential clientele in the area. The branch was officially inaugurated by Khalid Hamad Abdulrahman the executive director of banking supervision at the Central Bank of Bahrain (CBB) along with Yousif Taqi the director and group CEO at Al Salam Bank-Bahrain in the presence of Dr Anwar Al Sada the first deputy group CEO and Anwar Murad the deputy group CEO of Banking along with senior officials from the bank. Speaking at the inauguration Taqi said: Salmabad boasts a multitude of businesses and several government housing projects currently underway which will lead to a significant influx of residential traffic within the area. We remain committed to enhance convenience for our customers with easy access across all key districts of ...
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Al Salam Bank-Bahrain, a pioneering shari’a-compliant bank in the kingdom, has announced the launch of its full-service branch in Salmabad to cater to its fast growing business and residential clientele in the area.
The branch was officially inaugurated by Khalid Hamad Abdulrahman, the executive director of banking supervision at the Central Bank of Bahrain (CBB) along with Yousif Taqi, the director and group CEO at Al Salam Bank-Bahrain in the presence of Dr Anwar Al Sada, the first deputy group CEO and Anwar Murad, the deputy group CEO of Banking along with senior officials from the bank.
Speaking at the inauguration, Taqi said: "Salmabad boasts a multitude of businesses and several government housing projects currently underway which will lead to a significant influx of residential traffic within the area."
"We remain committed to enhance convenience for our customers with easy access across all key districts of ...
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant Banks in Bahrain recently hosted the periodic members consultative group meeting of the General Council for Islamic Banks and Financial Institutions (Cibafi). The meeting was attended by the members of the Cibafi s members consultative group which consists of number of advisory experts to discuss key issues and express their opinions on topics related to the Islamic financial service industry and work that Cibafi is undertaking in this regard. Yousif Taqi director and group CEO of Al Salam Bank-Bahrain said: We are delighted to host this year s Cibafi members consultative group meeting at the Bank and we would like to extend our appreciation to their tremendous efforts in promoting Islamic Banking and significant contributions towards their on-going support to the development of Islamic financial services industry. This is part of th...
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Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant Banks in Bahrain, recently hosted the periodic members consultative group meeting of the General Council for Islamic Banks and Financial Institutions (Cibafi).
The meeting was attended by the members of the Cibafi’s members consultative group which consists of number of advisory experts to discuss key issues and express their opinions on topics related to the Islamic financial service industry and work that Cibafi is undertaking in this regard.
Yousif Taqi, director and group CEO of Al Salam Bank-Bahrain, said: “We are delighted to host this year’s Cibafi members consultative group meeting at the Bank and we would like to extend our appreciation to their tremendous efforts in promoting Islamic Banking and significant contributions towards their on-going support to the development of Islamic financial services industry.”
“This is part of th...
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank s staff. With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF) the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence. The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise it said. Yousif Taqi director and group CEO of Al Salam Bank-Bahrain expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development. - TradeArabia News Service br ...
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Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has extended its appreciation to Tamkeen on its continuous support and initiatives that helped in facilitating training programs for the bank’s staff.
With the support of Tamkeen and in cooperation with the Bahrain Institute of Banking and Finance (BIBF), the bank recently commenced to provide its Retail Banking employees with specialised training programs to underscore the importance of customer excellence.
The bank is looking forward to enroll more of its employees in diversified training programs to further nurture their professional expertise, it said.
Yousif Taqi, director and group CEO of Al Salam Bank-Bahrain, expressed his appreciation to Tamkeen over its efforts and programs aimed at supporting individuals as well as the private sector to achieve professionalism and career development. - TradeArabia News Service
Al Salam Bank-Bahrain one of the pioneering Shari a-compliant banks in the kingdom has launched an upgraded online banking platform for its individual customers. The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button without the need to visit a branch. The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame. As part of the added security enhancements customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad said the bank. Moh...
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Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the kingdom, has launched an upgraded online banking platform for its individual customers.
The new version uses best-in-class technology and will now allow customers to register for the service online enabling them to both execute their banking transactions as well as receive information regarding their financial and non-financial transactions at the click of a button, without the need to visit a branch.
The new version also permits a customer-defined user name and password which can be reset by them along with a One Time Password (OTP) giving customers added security eliminating considerable back-office management and provides quicker service time-frame.
As part of the added security enhancements, customers can also choose a secure access image and caption to be confirmed during login with the help of a virtual login keypad, said the bank.
Moh...
Al Salam Bank-Bahrain (ASBB) one of the pioneering Shari a-compliant banks in the kingdom has announced that it has successfully taken over the entire business of its subsidiary BMI Bank. Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20 it has approved BMI Bank s request to transfer its entire banking business including all of its assets and liabilities to ASBB. On the move Yousif Taqi the director and group CEO of Al Salam Bank-Bahrain said: We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder s value. ASBB s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio and consistent with this strategy the board of directors is ideally poised to achieve its v...
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Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the kingdom, has announced that it has successfully taken over the entire business of its subsidiary BMI Bank.
Pursuant to the Resolution No. (22) published in the Central Bank of Bahrain (CBB) official gazette under issue number 3310 dated April 20, it has approved BMI Bank's request to transfer its entire banking business including all of its assets and liabilities to ASBB.
On the move, Yousif Taqi, the director and group CEO of Al Salam Bank-Bahrain said: "We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder’s value."
"ASBB’s strategy is to grow organically through mergers and acquisitions benefitting from a diversified customer portfolio, and consistent with this strategy the board of directors is ideally poised to achieve its v...
Al Salam Bank-Bahrain a pioneering Shari a-compliant bank in the Kingdom said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online. Speaking at the signing ceremony Anwar Murad the Deputy Group CEO of Banking at Al Salam Bank said: At Al Salam Bank we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com. In addition to this the Visa credit cardholders who are frequent travellers or plan to travel soon can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air s Falconflyer loyalty program for a number of benefi...
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Al Salam Bank-Bahrain, a pioneering Shari’a-compliant bank in the Kingdom, said it has signed an agreement with national carrier Gulf Air offering its Visa debit and credit cardholders the opportunity to enjoy an exclusive 10 per cent discount when purchasing their tickets online.
Speaking at the signing ceremony, Anwar Murad, the Deputy Group CEO of Banking at Al Salam Bank, said: "At Al Salam Bank, we are delighted to extend our partnership with Gulf Air that brings value-added benefits to our Visa debit and credit cardholders with an exclusive 10 per cent discount when purchasing economy or business class tickets at gulfair.com.”
"In addition to this, the Visa credit cardholders, who are frequent travellers or plan to travel soon, can avail the special discount offer with Gulf Air and earn miles on their everyday purchases that can directly be redeemed towards Gulf Air’s Falconflyer loyalty program for a number of benefi...
Al Salam Bank-Bahrain one of the pioneering Sharia compliant banks in the kingdom has launched its new Visa Infinite Credit Card designed to meet the requirements of a select group of upscale clients. The new Shari a-compliant card provides unparalleled services and benefits for an easy access to a diverse selection of privileges specially created for the affluent traveller said a statement from Al Salam Bank-Bahrain. It offers privileges such as premium airport lounge access at over 500 worldwide destinations free Gulf Air FalconFlyer loyalty miles complimentary multi-trip travel insurance coverage of up to 1 million complimentary Hilton Honors membership exclusive Harrods Black Card exclusive offers on a selection of stores and luxurious hotels collection 24 hours concierge services purchase protection extended warranty and much more it said. The new credit card is in-line with our commitment to consistently...
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Al Salam Bank-Bahrain, one of the pioneering Sharia compliant banks in the kingdom, has launched its new Visa Infinite Credit Card, designed to meet the requirements of a select group of upscale clients.
The new Shari’a-compliant card provides unparalleled services and benefits for an easy access to a diverse selection of privileges specially created for the affluent traveller, said a statement from Al Salam Bank-Bahrain.
It offers privileges such as premium airport lounge access at over 500 worldwide destinations, free Gulf Air FalconFlyer loyalty miles, complimentary multi-trip travel insurance coverage of up to $1 million, complimentary Hilton Honors membership, exclusive Harrods Black Card, exclusive offers on a selection of stores and luxurious hotels collection, 24 hours concierge services, purchase protection, extended warranty and much more, it said.
“The new credit card is in-line with our commitment to consistently...
The Bahrain Institute of Banking and Finance (BIBF) has received financial backing from Al Salam Bank for the development of an Islamic finance e-Learning platform reported the Gulf Daily News our sister publication. To read further please visit GDNonline . ...
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The Bahrain Institute of Banking and Finance (BIBF) has received financial backing from Al Salam Bank for the development of an Islamic finance e-Learning platform, reported the Gulf Daily News, our sister publication.
To read further, please visit GDNonline.
Al Salam Bank-Bahrain has entered into a partnership with Bahrain national carrier Gulf Air allowing the bank s visa credit cardholders to earn miles on their everyday purchases that can directly be redeemed towards carrier s Falconflyer loyalty programme. The miles earned can be redeemed for a number of benefits including free flights upgrades lounge access and excess baggage as well as membership upgrades and more. On this occasion Anwar Murad deputy group CEO of Banking at Al Salam Bank said: I am pleased to roll out our latest credit card reward scheme in line with a commitment to provide customers with financial solutions that better suits their needs whilst rewarding them for their loyalty. Our aim is focused to help them meet their lifestyle aspirations. Customers will earn free Gulf Air Falconflyer miles on every local or international spends when using any of our Visa credit cards suites that include Classic Gold...
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Al Salam Bank-Bahrain has entered into a partnership with Bahrain national carrier Gulf Air, allowing the bank’s visa credit cardholders to earn miles on their everyday purchases that can directly be redeemed towards carrier's Falconflyer loyalty programme.
The miles earned can be redeemed for a number of benefits including free flights, upgrades, lounge access and excess baggage as well as membership upgrades and more.
On this occasion, Anwar Murad – deputy group CEO of Banking at Al Salam Bank said: “I am pleased to roll out our latest credit card reward scheme in line with a commitment to provide customers with financial solutions that better suits their needs whilst rewarding them for their loyalty. Our aim is focused to help them meet their lifestyle aspirations. Customers will earn free Gulf Air Falconflyer miles on every local or international spends when using any of our Visa credit cards suites that include Classic, Gold...
