Al Salam Bank Sponsors the New INJAZ Bahrain Academy

Press release

Published June 22nd, 2023 - 05:34 GMT

Al Salam Bank Sponsors the New INJAZ Bahrain Academy

During the event

Al Salam Bank announces its sponsorship of an auditorium at the newly developed INJAZ Bahrain Academy headquarters. The Bank has granted BD 25,000 for the 50 square meter space, 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.

Commenting on the launch, Al Salam Bank Deputy CEO of Banking, Mr. Anwar Murad, said, “We are pleased to be supporting INJAZ Bahrain Academy, which aims to achieve sustainable development goals in line with the Economic Vision 2030 and the advancement of future generations. The Bank’s sponsorship of INJAZ Bahrain Academy comes as part of our ongoing commitment to strengthen our community and aligns with the Kingdom’s national strategy to empower youth and ultimately create new directions for future opportunities.”

On the occasion, Her Highness Sheikha Hessa bint Khalifa Al Khalifa of INJAZ Bahrain commented, “Partnership, cooperation, and innovation have been pillars of the INJAZ Bahrain promise, representing the values that the organization operates under and the values we instill in our student programs. These values are present in driving forward the new INJAZ Bahrain Academy, an endeavor we are excited to bring to life with the support of our esteemed partners Al Salam Bank as part of their mission to support homegrown institutions and as part of INJAZ Bahrain and Al Salam’s shared vision to create tangible change and impact. We are thrilled to make this trailblazing structure a reality with the aim to support the next generation of Bahrain’s leaders and gamechangers.”

INJAZ Bahrain is a non-profit organization that was established in 2005, with the aim of empowering young people to own their economic success and be prepared for today’s business challenges. With the help of its partners and volunteers, INJAZ Bahrain impacts thousands of students every year, bringing them closer to the real world, and unlocking their potential.

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.