Al Salam Bank Wins Best Islamic Banking Brand at the Global Islamic Finance Awards 2022

Press release

Published February 7th, 2023 - 02:40 GMT

The award recognizes the Bank’s success in launching its new brand identity as part of its rebranding campaign

Highlights

Al Salam Bank was recently named as the Best Islamic Banking Brand at the 2022 Global Islamic Finance Awards (GIFA).

Al Salam Bank was recently named as the Best Islamic Banking Brand at the 2022 Global Islamic Finance Awards (GIFA). The prestigious award is a testament to the Bank’s successful rebranding journey in 2021, which set a new benchmark for branding campaigns. As part of its rebranding, Al Salam Bank debuted a new brand promise, ‘We nurture relationships by enriching experiences’, together with a refreshed logo to better represent the Bank’s refreshed corporate values and DNA.

The rebranding campaign was the first-of-its-kind in the Kingdom of Bahrain. The Bank boldly engaged the public, communicating through traditional and social media channels, involving local talent in designing the logo, and hosting in-person activations throughout the campaign. The rebranding campaign was launched alongside the Bank’s new Corporate Social Responsibility (CSR) platform ‘Al Salam Helping Hands’, which donated BD 10,000 to the Royal Humanitarian Foundation (RHF).

Commenting on the occasion, Rafik Nayed, Group CEO of Al Salam Bank, said: “We are honored to be recognized as the Best Islamic Banking Brand. Al Salam Bank’s rebranding campaign, launched together with Al Salam Helping Hands, was community-led and focused on engaging our people, our clients, and the public. Our rebrand reflects our identity as one of the region’s leading Islamic financial institutions, as well as our firm commitment to making a positive contribution to the community.”

Mahmood Qannati, Head of Marketing and Communications at Al Salam Bank, said: “This award highlights the pivotal achievements we have made since the launch of our new brand identity in the final quarter of 2021 which received an incredibly positive reception. We are firm believers in living by our promise of nurturing deep-rooted relationships. As such, it was imperative to involve the Bahraini community in our rebranding exercise, from the logo creation through to the collaborations with local talent, all the way to the grand reveal.”

The Global Islamic Finance Awards is one of the leading international awards publications in the Islamic banking industry. The publication recognizes governments, institutions and individuals that have positively contributed to the Islamic banking and finance industry across the world.

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.