Press releases, Reports & Disclosures for Al Salam Bank B.S.C

Al Salam Bank has been recognized as the 'Most Innovative Marketing and Branding Campaigns in Banking – Bahrain' at the 2023 Global Economics Awards. The award acknowledges the bank's innovative campaigns, including its 'Inspired to Grow' initiative, Danat Savings Scheme, and Multi-Currency Prepaid Visa Card campaign. The 'Inspired to Grow' campaign, which aimed to double the number of trees in Bahrain and offset the bank's carbon footprint, resulted in over 7,000 trees planted and plants distributed to over 13,000 people. The Danat Savings Scheme offered clients the chance to win significant prizes, including one of BD 1,000,000. Al Salam Bank's recognition reflects its commitment to innovation, creativity, and continuous growth in its marketing and branding efforts.

On 26th October 2023, Al Salam Bank B.S.C announced the purchase of 265,000 treasury shares from the Bahrain Bourse and Dubai Financial Market. This acquisition increased the bank's total holding of treasury shares from 41,699,191 to 41,964,191, representing 1.604% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

Al Salam Bank in Bahrain has partnered with several leading service providers to offer innovative financial solutions for micro, small, and medium-sized enterprises (MSMEs). These solutions, which include digital services, business solutions, mobile POS services, insurance products, payment gateway management solutions, and financial auditing services, will be available at competitive rates. The initiative aligns with the bank's commitment to client-centric services and Environmental, Social, and Governance (ESG) goals. The launch was held at the bank's headquarters and coincided with the opening ceremony of the eleventh edition of the World Small and Medium Enterprises Day.

Al Salam Bank B.S.C. has announced the purchase of 270,000 treasury shares on the Dubai Financial Market on 25 October 2023. This acquisition increases the bank's total holding of treasury shares from 41,429,191 to 41,699,191, constituting 1.593% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain, with its headquarters located in Manama, Bahrain.

On 24th October 2023, Al Salam Bank B.S.C announced that it had purchased 353,445 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase increased their total holding of treasury shares from 41,075,746 to 41,429,191, equivalent to 1.583% of issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain and is headquartered in Manama, Bahrain.

The Board of Directors (BOD) meeting in which the purchase decision was made does not have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program for treasury shares started on the same day and ended on 12th November 2023. The size of the buyback program was 10%. The purchase was made on 23rd October 2023, with 365,573 shares bought at an average price of 0.181 fils. These shares represent 1.570% of the issued capital. Approximately 220,625,000 shares remain for purchase. Ali Yusuf Al Khaja is the name of the company chairman or his delegate. The company is Al Salam Bank B.S.C.

Al Salam Bank has added the UAE Dirham to the available currencies on its Multi-Currency Prepaid VISA Card. Other currencies on the card include the Bahraini Dinar, US Dollars, Euro, British Pound, and Turkish Lira. This addition is part of the bank's efforts to provide flexible payment solutions. Clients can get the card in any available currency through the mobile app, self-service kiosks, or bank branches. The card also offers a chance to win cash prizes, discounts on various services, secure transactions, easy top-ups, and ATM withdrawals. It does not charge any currency exchange fees.

The Board of Directors (BOD) meeting to decide on the purchase does not have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program for treasury shares started on the same day and ended on 12th November 2023. The size of the buyback program was 10%. The purchase took place on 22nd October 2023. The number of shares purchased was 419,223 at an average price of 0.182 fils. This accounts for 1.556% of the issued capital. Approximately 221,000,000 shares remain for purchase. The company chairman or his delegate is Ali Yusuf Al Khaja. The company is Al Salam Bank B.S.C. This is a post share buyback announcement.

Al Salam Bank B.S.C., based in Manama, Bahrain, announced that it has purchased 319,408 treasury shares on the Bahrain Bourse and Dubai Financial Market on October 19, 2023. This purchase has increased the bank's total holding of treasury shares from 39,971,542 to 40,290,950, which represents 1.540% of the bank's issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

Al Salam Bank has partnered with ERA Real Estate for the Khudur Homes project in Diyar Al Muharraq, Bahrain. As per the Memorandum of Understanding (MoU), the bank will provide exclusive financing offers for purchasing Khudur Home Villas, with no administrative costs or downpayments, and free property insurance. The bank aims to facilitate easy access to homes for its clients. The housing units are available on a freehold basis at prices starting from BD 120,000.