Al Salam Bank B.S.C

Al Salam Bank B.S.C. reported various financial figures in BHD'000. These include placements with financial institutions at 288,790, Murabaha financing at 712,481, Mudaraba financing at 620,831, finance lease assets at 865,383, Musharaka financing at 30,206, Salam financing at 295,575, Istisna financing at 48,513, and credit cards at 13,507. The bank also reported loans and advances to customers at 55, non-trading investments at 163, placements from financial institutions at 144,412, customers' current accounts at 1,037,539, Murabaha term financing at 469,278, and equity of investment accountholders at 2,724,349. The bank noted that these figures represent non-Shari'a compliant assets resulting from the acquisition of BMI Bank, AlSalam Seychelles (ASBS), and Bahraini Saudi Bank B.S.C. ("BSB"). All non-sharia income is transferred to a charity pool and disbursed as charity and donation contributions, so it is not recognised in the income statement.

Al Salam Bank B.S.C., licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain, has announced that they have signed a non-binding letter of intent with the Kuwait Finance House K.S.C.P. (KFH Group). This letter indicates their intention to begin preliminary discussions, negotiations, and due diligence for the potential acquisition of the entire shareholding of KFH Group in KFH Bahrain. This acquisition would be in collaboration with another investor. The announcement was made to the Bahrain Bourse and Dubai Financial Market on November 12, 2023.

The Board of Directors (BOD) meeting, in which the decision to purchase was made, doesn't have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program for treasury shares commenced on the same day and ended on 12th November 2023. The size of the buyback program was 10%. The actual purchase took place on 12th November 2023, with 4,013 shares purchased at an average price of 0.189 fils. This represents 1.687% of the issued capital. Approximately 217,550,000 shares remain available for purchase. The company's chairman or his delegate is Ali Yusuf Al Khaja. The company involved in this transaction is Al Salam Bank B.S.C. This information is part of the post share buyback announcement.

On 9th November 2023, Al Salam Bank B.S.C. announced the purchase of 47,000 treasury shares on the Dubai Financial Market. This acquisition increased the total holding of treasury shares from 44,106,534 to 44,153,534, which is 1.687% of the issued share capital. The bank is based in Manama, Bahrain, and is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

The board of directors made a decision to purchase shares, but the date is not available. The competent authority approved the purchase on 15 August 2023. The buyback program for treasury shares began on the same date and ended on 12 November 2023. The size of the buyback program was 10%. The purchase took place in November 2023, involving 150,000 shares at an average price of 0.180 fils each. This represented 1.685% of the issued capital. Approximately 217,600,000 shares remain for purchase. The company involved is Al Salam Bank B.S.C, represented by Ali Yusuf Al Khaja.

The Chairman of Al Salam Bank B.S.C. has invited shareholders to an Extraordinary General Assembly Meeting on 30 November 2023. If a quorum is not reached, additional meetings will be held on 7 and 14 December. The agenda includes ratifying the minutes of the previous meeting, approving the issuance of Tier 1 Financial Instruments and/or Sukuk not exceeding 230 million Bahraini dinars, and authorizing the Chairman and/or the Group CEO to initiate the necessary formalities. Shareholders registered on the meeting date can attend or appoint a proxy. Proxy forms are available online and should be submitted 24 hours before the meeting. Institutional shareholders must have their forms signed and sealed by an authorized signatory.