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

Al Salam Bank B.S.C. has announced the purchase of 270,000 treasury shares on the Dubai Financial Market on 25 October 2023. This acquisition increases the bank's total holding of treasury shares from 41,429,191 to 41,699,191, constituting 1.593% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain, with its headquarters located in Manama, Bahrain.

On 24th October 2023, Al Salam Bank B.S.C announced that it had purchased 353,445 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase increased their total holding of treasury shares from 41,075,746 to 41,429,191, equivalent to 1.583% of issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain and is headquartered in Manama, Bahrain.

The Board of Directors (BOD) meeting in which the purchase decision was made does not have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program for 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 23rd October 2023, with 365,573 shares bought at an average price of 0.181 fils. These shares represent 1.570% of the issued capital. Approximately 220,625,000 shares remain for purchase. Ali Yusuf Al Khaja is the name of the company chairman or his delegate. The company is Al Salam Bank B.S.C.

Al Salam Bank has added the UAE Dirham to the available currencies on its Multi-Currency Prepaid VISA Card. Other currencies on the card include the Bahraini Dinar, US Dollars, Euro, British Pound, and Turkish Lira. This addition is part of the bank's efforts to provide flexible payment solutions. Clients can get the card in any available currency through the mobile app, self-service kiosks, or bank branches. The card also offers a chance to win cash prizes, discounts on various services, secure transactions, easy top-ups, and ATM withdrawals. It does not charge any currency exchange fees.

The Board of Directors (BOD) meeting to decide on the purchase does not have a specified date. The competent authority approved the purchase on 15th August 2023. The buyback program for treasury shares started on the same day and ended on 12th November 2023. The size of the buyback program was 10%. The purchase took place on 22nd October 2023. The number of shares purchased was 419,223 at an average price of 0.182 fils. This accounts for 1.556% of the issued capital. Approximately 221,000,000 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 is a post share buyback announcement.

Al Salam Bank B.S.C., based in Manama, Bahrain, announced that it has purchased 319,408 treasury shares on the Bahrain Bourse and Dubai Financial Market on October 19, 2023. This purchase has increased the bank's total holding of treasury shares from 39,971,542 to 40,290,950, which represents 1.540% of the bank's issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

Al Salam Bank has partnered with ERA Real Estate for the Khudur Homes project in Diyar Al Muharraq, Bahrain. As per the Memorandum of Understanding (MoU), the bank will provide exclusive financing offers for purchasing Khudur Home Villas, with no administrative costs or downpayments, and free property insurance. The bank aims to facilitate easy access to homes for its clients. The housing units are available on a freehold basis at prices starting from BD 120,000.

On October 18, 2023, Al Salam Bank B.S.C announced the purchase of 282,000 treasury shares on the Bahrain Bourse and Dubai Financial Market. This purchase has increased the total holding of treasury shares from 39,689,542 to 39,971,542, which represents 1.527% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO of the bank.

Al Salam Bank's mobile app has been recognized with two awards: "Best Mobile Banking Services Bahrain 2023" by the International Business Magazine Awards 2023, and "Most Innovative Mobile Application - Banking - Bahrain 2023" by the International Finance Awards 2023. The bank's digital strategy and innovative approach have been highlighted as key factors in these achievements. The app offers a variety of features and services, and is the highest-rated banking application in Bahrain according to ratings on Apple Store, Google Play, and Huawei AppGallery. The bank continues to focus on digital transformation to improve client experiences and reduce carbon emissions caused by traditional banking transactions.

On October 17, 2023, Al Salam Bank B.S.C announced that it purchased 489,193 treasury shares from the Bahrain Bourse and Dubai Financial Market. This purchase increased the bank's total holding of treasury shares from 39,200,349 to 39,689,542, which represents 1.517% of its issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO.