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

Al Salam Bank has financed the first beneficiary through the 'Baity' application, a platform launched at the Housing Finance Exhibition. The bank was the first to complete real estate financing procedures via the platform, demonstrating its efficient administrative processes. The beneficiary also received a BD 500 cash prize at the exhibition in City Centre Bahrain. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, highlighted the bank's commitment to providing accessible housing services and invited users to apply for residential and financial solutions via the 'Baity' platform. Beneficiaries will receive benefits such as competitive profit rates, a six-month grace period, exemption from certain fees, and flexible procedures. The bank also announced six partnerships with local organizations during the exhibition.

Al Salam Bank has entered into strategic partnerships with several top real estate developers and firms to provide exclusive offers at the third Housing Finance Exhibition in Bahrain. The deals are targeted at Al Salam Bank's clients and include offers on residential plots, free consultations, exemptions from property valuation fees, discounts on home appliances, and a BD 50 purchase voucher from Al Salam Gas. Clients can also enjoy special prices on residential plots and villas from Tayba Company, Delmon Gate, and Union Company. The bank's customers will also benefit from competitive profit rates, a grace period of up to six months, and exemptions from property valuation fees, administrative fees, and down payments. The bank aims to offer innovative housing solutions through these partnerships.

Al Salam Bank is participating in the third edition of the Housing Finance Exhibition in Bahrain, which is organised by the Ministry of Housing and Urban Planning and Eskan Bank. The event will feature the launch of the "Bayti" platform, which aims to unite real estate developers, housing applicants, and banks. Al Salam Bank plans to offer exclusive financing options through this platform and will award BD 500 to the first three clients who complete the financing process on it. The bank's clients will also benefit from competitive profit rates, a grace period of up to six months, exemptions from certain fees, instant approvals, and a loyalty rewards program. Special offers on personal financing and strategic partnerships will also be available. The exhibition is part of efforts to enhance the housing sector in Bahrain and encourage private sector involvement.

Al Salam Bank B.S.C has announced the opening of elections for nine positions on its Board of Directors for a term from 2024 to 2027. The election will take place during the Annual General Meeting on 31 March 2024. Nominees must meet several conditions including full qualification, no prior convictions involving fraud or breach of trust, and not being prohibited from board membership by Bahraini law. Nominees for chairman or deputy chairman cannot simultaneously hold the position of the company's CEO. Candidates must submit several required documents including a CV, a list of companies where they serve as a board member, and a completed application for Approved Person Status.

Al Salam Bank has relaunched its digital onboarding campaign for the second year, extending its services to include Small and Medium-sized Enterprise (SME) clients. The campaign rewards clients who open new accounts digitally via the bank's mobile application or Self-Service Kiosks. Individual clients have a chance to win prizes worth BD 500, while those who transfer their salaries to Al Salam Bank could win cash prizes worth BD 1,000. SME clients can also win monthly cash prizes and access exclusive packages and offers designed to support their business growth. The campaign is part of the bank's ongoing commitment to digital expansion and client base growth.

Al Salam Bank has launched a new brand campaign, 'Why Stop Here', aimed at investing in key community sectors. The campaign includes three upcoming Environmental, Social, and Governance (ESG) initiatives designed to nurture young football talents, support rising athletes, and assist local businesses. The 'Project Dream' initiative, in partnership with Ole Academy, aims to develop young football talents and prepare them for the World Cup 2030 and 2034. The campaign also includes collaboration with the Bahrain Paralympic Committee to promote Bahraini Paralympic athletes and initiatives to support Bahraini entrepreneurs and SMEs.

Al Salam Bank has been awarded the Payment Card Industry Data Security Standard (PCI DSS) Version 4.0 Certification, a globally recognized standard for payment card data security. The certification acknowledges the bank's commitment to safeguarding client data and providing a secure banking experience. The bank's successful implementation of advanced technologies to enhance data security and ensure safe card use has been recognized. The PCI DSS 4.0 Certification includes updated standards such as enhanced security controls, compliance activities, payment verification methods, and a focus on cybersecurity.

Al Salam Bank has concluded its Danat Savings Scheme 2023 with a draw for the biggest cash prize in Bahrain, worth BD 1 million. The winner, retired Bahraini citizen Mr. Ebrahim Yusuf Hasan, was announced on live TV on 4th January 2024. Mr. Hasan had deposited BD250 into the Danat account after his retirement in 2017. The bank's 2023 Danat Savings scheme includes four grand prizes: a year's monthly salary of BD 20,000, a waterfront villa, and two cash prizes of BD 1 million each. The scheme also offers monthly prizes for clients who maintain savings in their Danat Plus accounts, with the chance of winning increasing the longer the savings are maintained.