Al Salam Bank Unveils Multi-Currency Debit Card

Al Salam Bank B.S.C, headquartered in the Kingdom of Bahrain, has made a significant stride in enhancing its banking solutions by launching a new Multi-Currency Debit Card. This innovative product caters specifically to clients who frequently travel or engage in international transactions, aligning with the bank's strategy to provide advanced and convenient banking solutions.

The Multi-Currency Debit Card allows users to link their accounts in six different currencies, including the Bahraini Dinar (BHD), US Dollar (USD), British Pound (GBP), Euro (EUR), Turkish Lira (TRY), and UAE Dirham (AED). This feature enables users to complete international transactions in their desired currency without incurring any currency conversion fees, a significant advantage for frequent travelers and online shoppers.

Clients can easily apply for the Multi-Currency Debit Card through Al Salam Bank's mobile application or by visiting a branch. The card offers full control over linked currencies through a user-friendly interface, enhancing the banking experience for clients.

Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, commented on the launch, stating, 'We are proud to launch the Multi-Currency Debit Card, which marks a significant enhancement to our payment offerings. This product was developed to meet the aspirations of our clients and provide them with a seamless, secure, and efficient banking experience.'

The introduction of this card complements Al Salam Bank's existing suite of foreign currency prepaid cards, offering clients the added benefit of carrying a single card for travel and shopping. The flexibility to manage account-linked currencies directly through the bank's mobile app further underscores the bank's commitment to digital innovation.

This initiative aligns with Al Salam Bank's strategic objective to strengthen its leading position in both local and regional markets by expanding its digital product portfolio. By meeting the evolving needs of a diverse client base, the bank continues to demonstrate its commitment to innovation and customer satisfaction.

While the Multi-Currency Debit Card is a positive development for Al Salam Bank, investors should consider their positions carefully. Given the bank's ongoing efforts to expand its digital offerings and strengthen its market position, a 'hold' recommendation is advised for those currently invested in the bank.