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

On October 18, 2023, Al Salam Bank B.S.C announced the purchase of 282,000 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase has increased the total holding of treasury shares from 39,689,542 to 39,971,542, which represents 1.527% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO of the bank.

Al Salam Bank's mobile app has been recognized with two awards: "Best Mobile Banking Services Bahrain 2023" by the International Business Magazine Awards 2023, and "Most Innovative Mobile Application - Banking - Bahrain 2023" by the International Finance Awards 2023. The bank's digital strategy and innovative approach have been highlighted as key factors in these achievements. The app offers a variety of features and services, and is the highest-rated banking application in Bahrain according to ratings on Apple Store, Google Play, and Huawei AppGallery. The bank continues to focus on digital transformation to improve client experiences and reduce carbon emissions caused by traditional banking transactions.

On October 17, 2023, Al Salam Bank B.S.C announced that it purchased 489,193 treasury shares from the Bahrain Bourse and Dubai Financial Market. This purchase increased the bank's total holding of treasury shares from 39,200,349 to 39,689,542, which represents 1.517% of its issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO.

The Board of Directors (BOD) meeting, where the purchase decision was taken, did not have a specified date. The approval for the purchase by the competent authority was given on 15th August 2023. The buyback program for treasury shares started on the same date and ended on 12th November 2023. The program size was 10% of the treasury shares. The purchase date was 16th October 2023, with a total of 540,698 shares purchased at an average price of 0.180 fils. The shares purchased amounted to 1.498% of the issued capital. There are approximately 222,500,000 shares remaining for purchase. The company's chairman or his delegate is Ali Yusuf Al Khaja. The disclosure was made by Al Salam Bank B.S.C. after the share buyback announcement.

On October 15, 2023, Al Salam Bank B.S.C. announced to shareholders and the markets that it purchased 504,651 treasury shares on the Bahrain Bourse. This acquisition increased the bank's total holding of treasury shares from 38,155,000 to 38,659,651, which represents 1.477% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

The Board of Directors (BOD) meeting date for the purchase decision is not available. The competent authority approved the purchase on 15 August 2023. The buyback program for treasury shares started on 15 August 2023 and ended on 12 November 2023. The buyback program size was 10% of treasury shares. The purchase date was 12 October 2023 with 208,499 shares purchased at an average price of 0.180 fils. The purchased shares represent 1.458% of the issued capital. Approximately 223,550,000 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 information is a post share buyback announcement.

On October 11, 2023, Al Salam Bank B.S.C. purchased 252,970 treasury shares on the Bahrain Bourse and Dubai Financial Market. This increased their total treasury shares holdings from 37,693,531 to 37,946,501, representing 1.450% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO at Al Salam Bank.

On 10th October 2023, Al Salam Bank B.S.C. bought 212,231 treasury shares on the Bahrain Bourse and Dubai Financial Market (DFM). This purchase increased the bank's total holding of treasury shares from 37,481,300 to 37,693,531, representing 1.440% of the issued share capital. The information was communicated by Ali Yusuf Al Khaja, the Head of Compliance and MLRO at Al Salam Bank.

The Board of Directors (BOD) of Al Salam Bank B.S.C. made a decision to buy back shares of the company. The approval for the purchase was given by the competent authority on August 15, 2023. The buyback program started on the same date and ended on November 12, 2023. The size of the buyback program was 10% of the treasury shares. The purchase happened on October 9, 2023, and the number of shares purchased was 231,300 at an average price of 0.180 fils. This purchase represented 1.432% of the issued capital. The number of shares remaining for purchase is approximately 224,250,000. The company's chairman or his delegate is Ali Yusuf Al Khaja.

Al Salam Bank has been awarded the 'MENA Retail Bank of the Year' for 2023, acknowledging the bank's commitment to client service, digital innovation, and sustainable banking practices. This award reflects the bank's growth and development since its inception 17 years ago. The bank's suite of digital products and services, such as its mobile application and investment tool 'Al Salam Invest', have been well-received by clients. The bank's commitment to environmental, social, and governance (ESG) initiatives is demonstrated by its efforts to reduce paper usage and automate processes in its branches. It also extends to its business clients, with the opening of Al Ruwad Banking Business Centers in 2022 to support small and medium enterprises (SMEs). The award was presented at the MENA Banking Excellence Summit held in Dubai.