Al Salam Unveils New Branch at Headquarters

Press release
Published December 12th, 2021 - 09:36 GMT

Al Salam Unveils New Branch at Headquarters
Al Salam Unveils New Branch at Headquarters
Highlights
Al Salam Bank inaugurated its newest branch at its headquarters

Al Salam Bank inaugurated its newest branch at its headquarters, located in the Sanabis area, in the presence of Mr. Khalid Hamad Al Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain (CBB), Mr. Fahad Yateem, Director of Islamic Financial Institutions Supervision Directorate at CBB, alongside the Bank’s board members and executive management, on Thursday 9 December 2021. This step comes as part of the Bank’s effort to expand its network, consisting of 9 branches and 26 ATMs, in the Kingdom.

The new branch will offer an integrated banking experience, giving customers access to its full range of Shari’a compliant products and services around the clock, and every day of the week.

Commenting on the opening of the new branch, Al Salam Bank Group Chief Executive Officer, Rafik Nayed, said “The Bank has maintained robust operations, enabling us to expand our local network, making our products and services even more accessible to everyone. It is our pleasure to serve our valued clients with a full range of Shari’a compliant products and services to meet their banking needs.”

On this occasion, Al Salam Bank Deputy Chief Executive Officer - Banking, Anwar Murad, commented “In addition to our efforts to strengthen our network of branches across the Kingdom, we are committed to enhancing our digital offerings, having recently launched our virtual branch, our flagship mobile banking application, as well as introduced WhatsApp Banking, enabling clients to make transactions and inquiries instantly. We continue to push forth in an effort to exceed customer expectations, ensuring we are always available to serve them at our branches or via mobile phone.”

The reinvigorated Al Salam Bank brand DNA includes new values that support a culture of collaboration, and is steered by a newly designed set of guiding principles, namely; We Enchant our Clients, We Inspire Our People, We are Digitally Native, We Do the Right Thing, and We Act with Empathy.

 

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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