Al Salam Bank B.S.C

Ticker/ISIN

SALAM_BAH

BH000A0J2481

Market/Country

Dubai Financial Market

United Arab Emirates

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

Al Salam Bank has introduced an exclusive card discount program in collaboration with "Live Life," offering discounts at over 100 local merchants in Bahrain. The program covers various sectors, including dining, entertainment, fitness, and travel, and is designed to enhance the use of the bank's credit, prepaid, and youth debit cards. Cardholders can access these discounts by using their Al Salam Bank cards at participating merchants. The initiative aims to make Al Salam Bank cards the preferred payment option and improve clients' banking experiences. The program also supports clients who have transitioned from "ASB Financing." Clients can find more details on the bank's website or social media platforms.

Disclosure: Press release

4 days ago

Al Salam Bank has launched a December Cards Campaign to encourage card use and promote spending both locally and internationally. Running until December 31, 2024, the campaign offers Visa credit and prepaid cardholders the chance to win cash prizes, including a grand prize of BD 3,000 and two prizes of BD 1,000 each. Participants earn draw entries for every BD 30 spent locally and double entries for international transactions. The campaign aims to enhance the client experience by offering rewards and highlighting the benefits of multi-currency prepaid cards, such as competitive exchange rates and no conversion fees. Mohammed Buhijji, Head of Retail Banking, emphasized the bank's commitment to providing innovative solutions and invited former ASP Finance clients to participate by replacing their cards through various channels. For more information, clients can visit the bank's website or contact them via WhatsApp.

Disclosure: Press release

10 days ago

Al Salam Bank has introduced an exclusive offer for the Jewellery Arabia 2024 exhibition, allowing clients to win back purchases up to BD 5,000 and daily cash prizes. The campaign, running from November 26 to 30, 2024, offers cash prizes based on spending levels using Al Salam Bank's credit or prepaid cards. Clients spending between BD 200 and BD 5,000 can win varying prizes, with higher spending increasing the chance of winning up to BD 5,000. Additionally, the first 10 clients daily can win BD 100 by visiting the bank's booth and showing receipts for purchases of at least BD 200. Cardholders will also benefit from exclusive offers, a temporary credit limit increase, a "Buy Now, Pay Later" feature, and a dedicated entry line at the event. Mr. Mohammed Buhijji, Head of Retail Banking, emphasized the bank's aim to enhance client experience through this campaign. More details are available on Al Salam Bank's website or via WhatsApp.

Disclosure: Press release

a month ago

Al Salam Bank has launched the "Workspaces" portal, a platform designed for Single Person Companies, family offices, and Micro, Small, and Medium-sized Enterprises (MSMEs) to manage their financial activities efficiently. This integrated platform allows users to access company accounts, financing options, and manage payments through a single login, with features like an Admin User profile for self-service capabilities, eliminating the need to visit the bank. It supports multiple Commercial Registration accounts and offers functionalities such as payments, salary transfers, and international transactions. The portal aims to enhance operational efficiency and support Bahrain's economic development by providing tailored digital services for MSMEs.

Disclosure: Press release

a month ago

Al Salam Bank has partnered with Durrat Al Bahrain to offer real estate financing solutions for the Jawharat Al Murjan project in Bahrain. This agreement provides Al Salam Bank clients with competitive profit rates, flexible installment plans, quick approvals, and reduced down payments for purchasing villas. Additional benefits include free consultations, discounts on home and electronic appliances, and loyalty rewards points. The Jawharat Al Murjan project features 200 villas with modern amenities, designed to cater to families. The villas range in size and offer various features such as outdoor seating areas and balconies. For more information, interested parties can visit Al Salam Bank’s website or contact them via WhatsApp or their virtual branch.

Disclosure: Press release

a month ago

Al Salam Bank reported a significant increase in financial performance for the third quarter and the nine-month period ended September 30, 2024. The bank's net profits for Q3 2024 were BD 14.0 million (USD 37.2 million), a 34.3% increase compared to the same period in 2023. Earnings per share rose to 4.9 fils (USD 13.0 cents), and total comprehensive income increased by 127.9% to BD 31.3 million (USD 82.9 million). For the nine-month period, net profits were BD 42.3 million (USD 112.3 million), up 36.5% from the previous year, with earnings per share at 15 fils (USD 39.8 cents). Total comprehensive income for this period increased by 80.2% to BD 71.1 million (USD 188.6 million). The bank's total income for the nine months was BD 255.4 million (USD 677.6 million), a 43.5% rise from 2023. Total equity attributable to shareholders increased by 8.5% to BD 366.2 million (USD 971.4 million), and total assets grew by 33.5% to BD 6.87 billion (USD 18.23 billion), partly due to the acquisition of Kuwait Finance House (Bahrain). The bank maintained a strong capital adequacy ratio of 20.4%. The Chairman, Shaikh Khalid bin Mustahil Al Mashani, and CEO, Rafik Nayed, expressed confidence in continued growth and strategic initiatives, including a new asset management venture in Dubai.

Disclosure: Press release

a month ago

Al Salam Bank B.S.C. announced the launch of ASB Capital, a new asset management firm licensed under Category 3A by the Dubai Financial Services Authority (DFSA). The firm is based in the Dubai International Financial Centre (DIFC) and has assets under management (AUM) totaling USD 4.5 billion. ASB Capital offers a comprehensive wealth and asset management platform with advanced products in public and private markets, investment banking, and placement services. It targets high-net-worth individuals, family offices, companies, and institutional clients in the Middle East and Africa.

Disclosure: Notification from the company

a month ago

Al Salam Bank, Bahrain's largest Islamic bank, has announced the launch of ASB Capital, a new asset management firm licensed by the Dubai Financial Services Authority. Based in the Dubai International Financial Centre, ASB Capital is set to launch with assets under management totaling USD 4.5 billion. The firm aims to offer a diversified wealth and asset management platform, providing access to investment opportunities typically reserved for institutional investors. ASB Capital will focus on four key areas: public markets, private markets, investment banking, and placement, targeting high net worth individuals, family offices, corporations, and institutional clients in the Middle East and Africa. The firm has partnered with a major global asset manager to introduce a specialized global equity fund and plans to enter the ETF market through a collaboration with a leading global provider. ASB Capital also intends to offer private market products, including private equity and venture capital, in partnership with established entities. The firm aims to address the growing demand for specialized asset management services in the region and is aligned with Al Salam Bank's growth objectives. ASB Capital aspires to become one of the top 10 asset managers in the region, focusing on excellence in asset and wealth management.

Disclosure: Press release

2 months ago

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Dubai Financial Market News

News Update From Al Salam Bank B.S.C 4 months ago

Disclosure: Postponing BOD meeting date

1. Attached Document

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 4 months ago

Disclosure: Press release

Al Salam Bank has signed a Memorandum of Understanding (MOU) with Bareeq Al Retaj, a prominent real estate developer in Bahrain, to offer exclusive real estate financing solutions for buyers interested in housing units in Ras Hayan Village and Wahati projects. The partnership provides clients with competitive profit rates, a 6-month grace period, quick approvals, waived administration and valuation fees, loyalty rewards points, complimentary consultations, and discounts on home and electronic appliances. Eligible clients under the Tas’heel scheme will also benefit from waived registration fees and free life and fire insurance. The collaboration aims to enhance the quality of life for clients and support national housing goals. Ras Hayan Village offers sustainable living with various plot sizes, while Wahati features modern apartments in a convenient location. For more information, clients can visit the bank's website or contact them via WhatsApp or Skiplino.

1. Attached Document

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 5 months ago

Disclosure: Press release

Al Salam Bank, in partnership with Solidarity Bahrain, has launched a new multi-year motor Takaful insurance product for the first time in Bahrain. This Sharia-compliant insurance offers coverage for up to seven years with flexible payment options, including installments, cash, and "Buy Now Pay Later." The first 30 clients to issue a new policy by September 30, 2024, will receive BD 50. Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, highlighted the product's benefits, including ease of mind, special discounts, and a seamless banking experience. The fixed-cost coverage remains consistent even in the event of claims, and the insurance amount is lower than annual renewal policies. For more information, visit the bank's website or contact them via WhatsApp or Skiplino.

1. Attached Document

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 6 months ago

Disclosure: Clarification from the company

1. Attached Document

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 6 months ago

Disclosure: BOD meeting

1. Attached Document

AkSharesKumar

Commented on JohnnyDebts Transaction regarding Al Salam Bank B.S.C 6 months ago

Nice move! Al Salam Bank could be a strong play in the Financials sector. Diversification is key, and it looks like you're onto something good. Keep an eye on those growth opportunities!

AkSharesKumar

Commented on FinDiesels Transaction regarding Al Salam Bank B.S.C 6 months ago

Nice move, FinDiesel! Al Salam Bank at 1.89 AED sounds like a solid buy. Diversifying with Financials complements your robust portfolio in Industrials and Materials. Keep up the winning streak! 💪🚀

QueenOfCommunication

Commented on FinanceBroAEDs Transaction regarding Al Salam Bank B.S.C 6 months ago

Nice move! Al Salam Bank seems like a solid buy at that price. Always intriguing to see more diverse sector plays, especially with your Financials and Industrials focus. Curious to see how this pans out! 🚀📈

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 6 months ago

Disclosure: Results of BOD Meeting

Al Salam Bank B.S.C announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During this meeting, the board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market and was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

1. Attached Document

Dubai Financial Market News

News Update From Al Salam Bank B.S.C 6 months ago

Disclosure: BOD meeting

Al Salam Bank B.S.C. announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During the meeting, the Board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market. The notice was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO.

1. Attached Document

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