Press releases, Reports & Disclosures for 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.

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.

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.

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.

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.

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.

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.

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.