Al Salam Bank B.S.C

Al Salam Bank B.S.C. has announced that it purchased 1,074,383 treasury shares on the Bahrain Bourse and Dubai Financial Market on December 27, 2023. This purchase has increased the bank's total holding of treasury shares from 51,214,078 to 52,288,461, which is equivalent to 1.998% of the issued share capital. The announcement was made by Ali Yusuf Al Khaja, the Head of Compliance and MLRO of the bank.

On December 26, 2023, Al Salam Bank B.S.C. announced that it has purchased 152,000 treasury shares on the Bahrain Bourse and Dubai Financial Market. This has increased the total holding of treasury shares from 51,062,078 to 51,214,078, which represents 1.957% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

The Board of Directors (BOD) meeting, in which the decision to purchase was made, did not specify a date. The competent authority approved the purchase on 14 November 2023. The buyback program for treasury shares began on 14 November 2023 and ended on 11 February 2024, with a size of 10%. The purchase date was on 25 December 2023, with 1,093,000 shares purchased at an average price of 0.198 fils. The purchased shares represent 1.951% of the issued capital. Approximately 210,640,000 shares remain for purchase. The chairman of the company's board of directors or his delegate is Ali Yusuf Al Khaja. The company is Al Salam Bank B.S.C. This information is a post share buyback announcement.

Al Salam Bank has launched a new financing campaign for 2024, offering competitive profit rates for all financing schemes, including personal, property, and auto financing, as well as the Ministry of Housing’s Mazaya, Mazaya 2.0, and Tas’heel Social Housing Finance. From 24 December 2023 to 18 February 2024, new and existing clients who apply for new financing, top up their current financing, or transfer their financing from another bank to Al Salam Bank, can win 6 months of paid installments. Additionally, clients can receive their financing and pay their first installment by June 2024 with an optional 6-month grace period. The bank also offers instant approval, simplified procedures, and smooth transactions.

The Board of Directors (BOD) of Al Salam Bank B.S.C. conducted a meeting to decide on a share buyback program, but the date of this meeting is not available. The competent authority approved the purchase on 14th November 2023. The buyback program, which involved treasury shares, started on 14th November 2023 and ended on 11th February 2024. The program size was 10% of the treasury shares. The purchase was made on 24th December 2023, with 197,333 shares bought at an average price of 0.199 fils each. This purchase represented 1.909% of the issued capital. Approximately 211,730,000 shares remain available for purchase. The company's chairman or his delegate is Ali Yusuf Al Khaja.

Al Salam Bank has launched an e-signature service in partnership with DocuSign to allow customers to complete banking transactions virtually. The service is part of the bank's sustainability efforts and commitment to digital innovation. The e-signature feature aims to provide a faster, seamless customer experience and reduce paper waste. The new service will also connect approving authorities, generate automatic reminders and track clients' statuses securely. The bank's Head of Retail Banking, Mr. Mohammed Buhijji, stated that the service is designed to improve the banking experience for their diverse client base.

Al Salam Bank has launched an exclusive campaign for visitors to the Autumn Fair 2023, which it is officially sponsoring as part of its partnership with Informa Markets. The campaign allows visitors to open a new account and issue a card instantly at the bank's booth, with exclusive offers available. The bank is also offering cash prizes for purchases made using its credit, debit or prepaid cards. Ten customers have the chance to win 100% cashback (capped at 100 BD) for every BD 20 spent at the exhibition. The bank will provide on-site banking solutions and has partnered with Arab Financial Services to offer digital platforms reducing the use of cash. The strategic partnership with Informa Markets includes sponsorship of the Autumn Fair 2023, Jewellery Arabia 2024, and Scent Arabia 2024.

The board of directors (BOD) meeting, in which the purchase decision was made, did not specify a date. The approval date by the competent authority for the purchase was on 14th November 2023. The buyback program (treasury shares) started on 14th November 2023 and ended on 11th February 2024. The size of the buyback program was 10% of treasury shares. The purchase date was on 21st December 2023, with 459,671 shares purchased at an average price of 0.197 fils. The purchased shares represent 1.902% of the issued capital. The remaining shares for purchase are approximately 211,930,000. The chairman of the board or his delegate is Ali Yusuf Al Khaja. The company involved is Al Salam Bank B.S.C.

Al Salam Bank B.S.C, based in Manama, Bahrain, has announced that its Board of Directors will approve the financial results for the period ending on 31st December 2023. The meeting is scheduled to take place on 12th February 2024 at 10:00 am. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.