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

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.

Al Salam Bank B.S.C, located in Manama, Bahrain and regulated by the Central Bank of Bahrain, has announced the termination of its discussions with Kuwait Finance House K.S.C.P. (KFH Group) regarding the potential acquisition of the entire shareholding in Kuwait Finance House – Bahrain B.S.C.(c) (KFH Bahrain). The bank stated that the parties could not reach mutually agreeable terms for the transaction.

Al Salam Bank has revealed the biggest grand prize winner of 2023 in Bahrain and launched the Danat Prize Scheme 2024, offering even larger prizes. The new scheme doubles the grand prize to two million, with two clients having the opportunity to win BD 1 million each. The first grand prize of the scheme is a BD 20,000 monthly salary for one year. The scheme also includes a grand prize of a modern, waterfront villa at Diyar Al Muharraq's Al Naseem project. The bank plans to reward more than 100 clients with monthly prizes, including cash prizes and a new prize for clients who maintain their savings in their Danat Plus accounts. The bank's aim is to reward long-term account holders and encourage savings.

On January 2, 2024, Al Salam Bank B.S.C. announced that it has purchased 250,312 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase has increased its total holding of treasury shares from 53,005,000 to 53,255,312, which accounts for 2.035% of its 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 decision to purchase shares does not have a specified date. The competent authority approved the purchase on 14th November 2023. The start date of the buyback program (treasury shares) was 14th November 2023 and it ended on 11th February 2024. The size of the buyback program was 10% of treasury shares. The purchase was made on 31st December 2023 with 59,291 shares bought at an average price of 0.202 fils. The purchased shares represent 2.025% of the issued capital. Approximately 208,700,000 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.

The Board of Directors (BOD) of Al Salam Bank B.S.C. took a purchase decision on an unspecified date. The competent authority approved the purchase on 14th November 2023. The buyback program of treasury shares started on 14th November 2023 and ended on 11th February 2024, with a size of 10%. The date of purchase was on 29th December 2023. The number of shares purchased was 20,000 at an average price of 0.200 fils, accounting for 2.023% of the issued capital. Approximately 208,740,000 shares remain for purchase. The BOD chairman or his delegate is Ali Yusuf Al Khaja.

The Board of Directors (BOD) meeting date in which the purchase decision was made is not available. The competent authority approved the purchase on 14th November 2023. The buyback program for treasury shares started on 14th November 2023 and ended on 11th February 2024. The size of the buyback program was 10% of treasury shares. The purchase was made on 28th December 2023, with 637,248 shares purchased at an average price of 0.200 fils. The purchased shares represent 2.022% of the issued capital. Approximately 208,760,000 shares are remaining for purchase. The company's chairman or his deputy is Ali Yusuf Al Khaja. The company is Al Salam Bank B.S.C. This is a post share buyback announcement.

Al Salam Bank has been awarded the "Best Marketing Initiative of the Year – Bahrain 2023" by the International Business Magazine Awards 2023, for its "Inspired to Grow" campaign. The campaign aimed to increase green areas in Bahrain and reduce the bank's carbon footprint, in line with national objectives and the Sustainable Development Goals. Over a six-month period, the campaign resulted in the planting of over 20,000 trees across Bahrain. The bank plans to launch more initiatives to support Bahrain's goals to double tree coverage by 2035 and achieve net zero by 2060.

Al Salam Bank B.S.C. has announced that it purchased 1,074,383 treasury shares on the Bahrain Bourse and Dubai Financial Market on December 27, 2023. This purchase has increased the bank's total holding of treasury shares from 51,214,078 to 52,288,461, which is equivalent to 1.998% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO of the bank.