Al Salam Bank B.S.C

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.

Al Salam Bank has been awarded two prestigious titles at the 2023 Global Islamic Finance Awards: "Best Islamic Brand 2023" and the "GIFA Excellence Award for Islamic Private Banking". These awards highlight the bank's progress in Islamic banking and its ongoing efforts to strengthen its position in the sector. The bank has been recognized for its variety of personalized, Shari'a-compliant investment products and initiatives aimed at promoting eco-friendly practices and digital services. The bank also provides specialized wealth management services to high-net-worth clients and emphasizes Corporate Social Responsibility and Environmental, Social, and Governance principles within its brand identity.

On November 2, 2023, Al Salam Bank B.S.C. announced that it has purchased 881,534 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase has increased the bank's total holding of treasury shares from 42,975,000 to 43,856,534, which represents 1.676% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO of Al Salam Bank. The bank is an Islamic Retail Bank licensed and regulated by the Central Bank of Bahrain and is based in Manama, Bahrain.

The Board of Directors (BOD) meeting date for the purchase decision is not specified. The competent authority approved the purchase on 15 August 2023. The buyback program of treasury shares started on the same day and ended on 12 November 2023. The size of the buyback program was 10%. The purchase was made in November 2023, with 100,000 shares purchased at an average price of 0.181 fils. The purchased shares represent 1.642% of the issued capital, leaving approximately 218,725,000 shares still available for purchase. The Chairman of the company or his delegate is Ali Yusuf Al Khaja. The company involved in this transaction is Al Salam Bank B.S.C.

On October 31, 2023, Al Salam Bank B.S.C. purchased 687,809 treasury shares on the Bahrain Bourse and Dubai Financial Market. This increased its total holding of treasury shares from 42,187,191 to 42,875,000, which represents 1.638% 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, in which the purchase decision was made, didn't have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program (treasury shares) started on the same day and ended on 12th November 2023. The size of the buyback program was 10%. The purchase was made on 30th October 2023, with 85,000 shares purchased at an average price of 0.182 fils. The shares purchased accounted for 1.612% of the issued capital. Approximately 219,500,000 shares remain for purchase. The chairman of the company or his delegate is Ali Yusuf Al Khaja. The company name is Al Salam Bank B.S.C. This information is part of the post-share buyback announcement.

Al Salam Bank has been recognized as the 'Most Innovative Marketing and Branding Campaigns in Banking – Bahrain' at the 2023 Global Economics Awards. The award acknowledges the bank's innovative campaigns, including its 'Inspired to Grow' initiative, Danat Savings Scheme, and Multi-Currency Prepaid Visa Card campaign. The 'Inspired to Grow' campaign, which aimed to double the number of trees in Bahrain and offset the bank's carbon footprint, resulted in over 7,000 trees planted and plants distributed to over 13,000 people. The Danat Savings Scheme offered clients the chance to win significant prizes, including one of BD 1,000,000. Al Salam Bank's recognition reflects its commitment to innovation, creativity, and continuous growth in its marketing and branding efforts.

On 26th October 2023, Al Salam Bank B.S.C announced the purchase of 265,000 treasury shares from the Bahrain Bourse and Dubai Financial Market. This acquisition increased the bank's total holding of treasury shares from 41,699,191 to 41,964,191, representing 1.604% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

Al Salam Bank in Bahrain has partnered with several leading service providers to offer innovative financial solutions for micro, small, and medium-sized enterprises (MSMEs). These solutions, which include digital services, business solutions, mobile POS services, insurance products, payment gateway management solutions, and financial auditing services, will be available at competitive rates. The initiative aligns with the bank's commitment to client-centric services and Environmental, Social, and Governance (ESG) goals. The launch was held at the bank's headquarters and coincided with the opening ceremony of the eleventh edition of the World Small and Medium Enterprises Day.