Al Salam Bank B.S.C
About Al Salam Bank B.S.C
Al Salam Bank Profile
Establishing its headquarters in the Kingdom of
Bahrain in 2006, Al Salam Bank has since cemented its reputation as the fastest
growing bank in the Kingdom and a highly influential force in the Islamic
banking industry on a regional level. Leveraging on its robust financial
standing as the industry’s strongest in asset capital, the Bank has a proven
track record in risk mitigation and effectively shifting to market dynamics,
through its agile and aggressive growth strategy.
The Bank has adopted a digital-first mindset to
meet the modern-day needs of its clientele, delivering curated financial
solutions and a seamless, transformative customer experience. Harnessing the
power of data-backed insights and state-of-art technology, Al Salam Bank offers
a comprehensive range of innovative and unique Shari’a-compliant financial
products and services through its extended network of branches and ATMs. In
addition to its diverse range of retail banking services, the Bank also
provides corporate banking, private banking, asset management, international
transaction banking as well as treasury services.
Al Salam Bank’s competitive edge lies in its
unrivalled approach to nurturing client relationships, fuelled by a
deeply-rooted ethos in humanizing the customer journey through personalization,
convenience, and efficiency, creating a refined and rewarding client
experience. The Bank prides itself on its solution-oriented philosophy,
curating tailored solutions with its clients’ financial needs at the epicenter
of everything they do.
With a Bahrainization rate of 92%, Al Salam Bank
considers its people to be its most valued asset. The Bank has prioritized the
wellbeing of its human capital, empowering them with the requisite tools,
training and opportunities to create an inspired workforce dedicated to the
pursuit of excellence. Championing a highly energetic and collaborative work
environment, Al Salam Bank fosters a culture of innovation which celebrates
collective achievements.
Encouraging a socially responsible culture from within to drive positive change, the Bank is committed to supporting the social and financial wellbeing of the community in which it resides. Driven by the shared passion of its people to form deep relationships with clients, the Bank aims to create solutions to help its customers meet their financial goals in a sustainable manner.
Latest Pressrelease Summaries from Al Salam Bank B.S.C
Threads
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
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.
DFM News
News Update From Al Salam Bank B.S.C
On October 8, 2023, Al Salam Bank B.S.C announced that it has purchased 275,000 treasury shares on the Bahrain Bourse. This purchase increases the bank's total holding of treasury shares from 36,975,000 to 37,250,000, which constitutes 1.423% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain and is located in Manama, Kingdom of Bahrain.
DFM News
News Update From Al Salam Bank B.S.C
On October 5, 2023, Al Salam Bank B.S.C announced that it has purchased 53,680 treasury shares from the Bahrain Bourse. This acquisition increased the bank's total holding of treasury shares from 36,921,320 to 36,975,000, which represents 1.413% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.
DFM News
News Update From Al Salam Bank B.S.C
Al Salam Bank B.S.C announced on 4th October 2023, that it has purchased 196,320 treasury shares on the Bahrain Bourse. This purchase has increased the total holding of treasury shares from 36,725,000 to 36,921,320, which represents 1.411% of the issued share capital. The information was communicated by Ali Yusuf Al Khaja, the Head of Compliance and MLRO.
DFM News
News Update From Al Salam Bank B.S.C
Al Salam Bank has introduced a video call feature on its digital self-service kiosk, a platform that provides round-the-clock digital services including account opening, issuing debit and prepaid cards, updating personal information, and more. The new feature allows clients to request direct assistance from a bank representative via video during official working hours. The move is part of the bank's digital-first strategy and its efforts to enhance its clients' banking experience. The service was launched during the bank's migration process to facilitate a smooth transition for Ithmaar Bank's retail banking clients to Al Salam Bank.