Al Salam Bank Wins Two Coveted Accolades at the 2023 Global Islamic Finance Awards

Press release
Published November 5th, 2023 - 07:15 GMT

Al Salam Bank Wins Two Coveted Accolades at the 2023 Global Islamic Finance Awards
Al Salam Bank - Ali Qassim

Al Salam Bank has recently received two prestigious awards at the 2023 Global Islamic Finance Awards: "Best Islamic Brand 2023" and the "GIFA Excellence Award for Islamic Private Banking". These accolades underscore the Bank's consistent progress in the field of Islamic banking and its ongoing efforts to enhance its position in the banking sector.
The 'GIFA Excellence Award for Islamic Private Banking' recognizes Al Salam Bank's array of personalized, Shari'a-compliant investment products. The Bank has continually diversified its Private Banking portfolio by introducing cutting-edge products and services such as 'Al Salam Invest'. Additionally, the Bank offers a suite of products and services, including: Wakala accounts, Multicurrency Deposits, Family Trust and Succession Planning services, various Leveraged Facilities, Property Financing, and more. 
The 'Best Islamic Brand 2023' Award reaffirms the Bank's dedication to pioneering the modern and forward-thinking Islamic Banking sector in the Kingdom of Bahrain. In the past year, Al Salam Bank has launched several initiatives and campaigns, including the 'Inspired to Grow' campaign aimed at promoting eco-friendly and environmental practices, as well as partnering with several academic institutes to offer sponsored scholarships and introduce a wide range of digital products and services.
Commenting on the achievement, Mr. Ali Habib Qassim, Head of Private Banking at Al Salam Bank, said: "We are proud to have achieved the 'GIFA Excellence Award for Islamic Banking' at the Global Islamic Finance Awards for our dedication to building both our corporate brand and our Islamic Private Banking services. We would like to extend our gratitude and appreciation to our team, who have enabled us to achieve this accolade through their hard work and dedication." 
On his end, Mr. Mahmood Qannati, Head of Marketing and Communications and ESG Officer at Al Salam Bank, said: "The 'Best Islamic Brand 2023' Award stands as a testament to our commitment to delivering an exceptional experience to our clients by utilizing the latest technologies to expand our offers. We continue to adopt initiatives such as the 'Inspired to Grow' campaign, that aim to raise environmental awareness and encourage communities to preserve the environment. We look forward to maintaining the same approach to further cement our position as a leading Islamic bank that meets the needs of our clients across all segments. " 
With a dedicated team of experienced relationship managers, Al Salam Bank's Private Banking division provides specialized wealth management services to high-net-worth and ultra-high-net-worth clients, ensuring a seamless, private banking experience to meet their diverse international investment needs.
In addition to its creative marketing campaigns and digitalization initiatives, the Bank has embedded Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) principles within its brand identity. Utilizing the latest technology, the Bank ensures seamless banking and offers a broad spectrum of financial products and services through its extensive network of branches, Self Service Kiosks, and ATMs.

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.

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