Al Salam Bank Launches Al Salam Invest

Press release

Published May 30th, 2022 - 04:46 GMT

Rafik Nayed, Group CEO of Al Salam Bank .

Highlights

Al Salam 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 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.

Commenting on the launch of Al Salam Invest, Group Chief Executive Officer of Al Salam Bank, Rafik Nayed, said, “Today’s fast-moving sector demands innovation. Accordingly, we are investing heavily in our digital transformation strategy to develop new platforms that enhance the client experience. The launch of Al Salam Invest is a direct result of this approach and reflects our ongoing efforts to design services and products that meet client needs. Innovation is a key pillar in our ambitious growth plans, and we will continue to prioritize transformative solutions that reinforce our position as Bahrain’s fastest growing bank.”

Deputy Chief Executive Officer of Banking at Al Salam Bank, Anwar Murad added, “We are proud to launch Al Salam Invest, an advanced investment and trading platform designed with unparalleled confidentiality and security features. The digital trading platform, curated to serve Private Banking and Al Ruwad clients, provides convenient and instant access to global equities, ETFs, sukuk, and mutual funds empowering users to take control of their portfolio with access to real-time tracking of investments anytime, anywhere, directly from the Al Salam Bank app.”

Alongside the new investment platform, Al Salam Bank’s mobile application provides a full range of banking services including digital onboarding, Danat savings scheme, family accounts, financing facilities, card management, amongst others. The digital application also provides comprehensive control over personal accounts through a fully customizable experience.

Al Salam Bank joined forces with one of the leading digital trading solution providers in the Middle East, GTN Middle East Financial Services (DIFC) Limited, to design Al Salam Invest, which is available on
Al Salam Bank’s mobile application and website.

For more information on Al Salam Invest, please visit www.alsalambank.com or contact the Bank’s client care center on 17005500.

Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.