Al Salam Bank Opens Its Flagship Branch In Hidd

Press release

Published March 31st, 2021 - 09:21 GMT

Al Salam Bank

Highlights

Al Salam Bank recently announced the opening of its new flagship branch in Hidd, Muharraq.

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 digitization strategy, the new flagship branch features a dedicated Al Ruwad Business Center, 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, Mr. 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 impact of the pandemic. We have successfully been able to maintain strong operations at the Bank, which allows us to continue to enhance our national network and improve our products and services, all the while making them more accessible to all.”

Mr. Anwar Murad, the Deputy CEO of Business at Al Salam Bank, added, “We are delighted now to be able to accommodate further the banking needs of the people in the area. We want to make accessing our full range of Shari’a-compliant products and services easier and more convenient for all. As we continue to optimize our physical network of branches across the Kingdom, we are also continuously enhancing our digital offering, having recently launched our virtual branch, WhatsApp Banking and our flagship mobile banking app. Whether you are accessing our services from your smartphone at home, or just stepping outside to your nearest branch, our aim is always to be available for our customers, whatever they need, whenever they need it.”

For more information on Al Salam Bank’s range of Shari’a-compliant products and services, please visit the Bank’s website below:

https://www.alsalambahrain.com/

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.