Al Salam Bank Triumphs with Five Visa Awards

In a significant milestone, Al Salam Bank B.S.C, a prominent player in the Islamic banking sector, has been honored with five prestigious awards from Visa, the global leader in digital payments. This achievement underscores the bank's commitment to delivering innovative, customer-centric banking solutions, and highlights its leadership in adopting cutting-edge technologies to provide a comprehensive banking experience.

The awards, which recognize the bank's outstanding performance across key metrics in 2024, include accolades for growth in payment volume, digital spending, active cards, and both domestic and international spending. This recognition not only emphasizes Al Salam Bank's ability to excel across diverse performance categories but also its strategic focus on digital transformation and operational efficiency.

Anwar Murad, Deputy CEO of Banking Services at Al Salam Bank, expressed pride in this unprecedented achievement, stating, We are proud to achieve this unparalleled success, which reflects our steadfast commitment to innovation and enhancing our customers' digital payment experiences. Winning five Visa awards in one year is a testament to the trust we enjoy in the market and the quality of our banking products and services.

This accomplishment is a direct result of the bank's comprehensive strategy, which focuses on accelerating digital transformation, improving operational efficiency, and delivering smart banking experiences based on data and analytics. The bank has been proactive in designing and implementing initiatives that encourage card usage, increase reliance on digital channels, and offer tailored products that enhance customers' lifestyles and exceed their expectations.

Ali Bailoun, Regional General Manager for Visa in Saudi Arabia, Bahrain, and Oman, praised Al Salam Bank's exceptional performance, stating, We are delighted to honor Al Salam Bank, which has demonstrated outstanding performance across various key performance categories for 2024. This achievement reflects the bank's commitment to excellence in the digital payments sector, and we are proud of this fruitful partnership with Al Salam Bank.

The future looks promising for Al Salam Bank as it continues to build a comprehensive ecosystem of partnerships with leading global entities, with Visa at the forefront. This collaboration aims to strengthen the bank's position as a leading banking group that embraces innovation as a fundamental element in achieving sustainable growth.

Given the bank's strong performance and strategic focus on digital transformation, it is advisable for investors to hold their positions and monitor the bank's progress as it continues to enhance its market presence and deliver value to its stakeholders.