Al Salam Bank B.S.C

Logotype for Al Salam Bank B.S.C
Ticker/ISIN
SALAM_BAH
BH000A0J2481
Market/Country
Dubai Financial Market
United Arab Emirates

About Al Salam Bank B.S.C

Al Salam Bank Profile

 

Establishing its headquarters in the Kingdom of Bahrain in 2006, Al Salam Bank has since cemented its reputation as the fastest growing bank in the Kingdom and a highly influential force in the Islamic banking industry on a regional level. Leveraging on its robust financial standing as the industry’s strongest in asset capital, the Bank has a proven track record in risk mitigation and effectively shifting to market dynamics, through its agile and aggressive growth strategy.

 

The Bank has adopted a digital-first mindset to meet the modern-day needs of its clientele, delivering curated financial solutions and a seamless, transformative customer experience. Harnessing the power of data-backed insights and state-of-art technology, Al Salam Bank offers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through its extended network of branches and ATMs. In addition to its diverse range of retail banking services, the Bank also provides corporate banking, private banking, asset management, international transaction banking as well as treasury services.

 

Al Salam Bank’s competitive edge lies in its unrivalled approach to nurturing client relationships, fuelled by a deeply-rooted ethos in humanizing the customer journey through personalization, convenience, and efficiency, creating a refined and rewarding client experience. The Bank prides itself on its solution-oriented philosophy, curating tailored solutions with its clients’ financial needs at the epicenter of everything they do.

 

With a Bahrainization rate of 92%, Al Salam Bank considers its people to be its most valued asset. The Bank has prioritized the wellbeing of its human capital, empowering them with the requisite tools, training and opportunities to create an inspired workforce dedicated to the pursuit of excellence. Championing a highly energetic and collaborative work environment, Al Salam Bank fosters a culture of innovation which celebrates collective achievements.

 

Encouraging a socially responsible culture from within to drive positive change, the Bank is committed to supporting the social and financial wellbeing of the community in which it resides. Driven by the shared passion of its people to form deep relationships with clients, the Bank aims to create solutions to help its customers meet their financial goals in a sustainable manner.

Latest Pressrelease Summaries from Al Salam Bank B.S.C

Al Salam Bank announced its financial results for the first quarter of 2025, reporting a net profit attributable to shareholders of BD 18.6 million (US$ 49.3 million), a 32.7% increase from the previous year. The growth was driven by strong performance in core banking operations and subsidiaries. Earnings per share rose to 6.1 fils (US cents 16.2), and total comprehensive income increased by 3.1% to BD 27.0 million (US$ 71.7 million). The Bank's gross income grew by 36% to BD 105.6 million (US$ 280.2 million). Shareholders' equity rose by 8.3% to BD 390.2 million (US$ 1.04 billion), and total assets increased by 4.5% to BD 7.38 billion (US$ 19.58 billion). Financing assets and customer deposits also saw growth, with the Bank maintaining a capital adequacy ratio of 24.8%. The Bank's leadership highlighted the focus on digital initiatives, customer experience, regional expansion, and operational optimization. The financial statements were reviewed by KPMG and are available on the Bahrain Bourse’s website.
Al Salam Bank has introduced a new digital service that allows clients to apply for credit cards based on their monthly salary through the bank's mobile app. This service eliminates the need for branch visits or physical document submissions. It offers instant approval after virtual income verification, aiming to provide a faster and fully integrated digital banking experience. This initiative is part of the bank's efforts to enhance its digital platforms and streamline banking operations, reflecting a strategic shift towards full digitalization. The service is designed for ease of use and quick processing, reinforcing the bank's dedication to delivering superior banking experiences without traditional processes. For more details, clients can visit the bank's website, contact via WhatsApp, or use the Skiplino app to book a virtual branch appointment.
Al Salam Bank has introduced a promotional campaign for Visa credit and prepaid cardholders, running from May 4 to June 30, 2025. The campaign aims to boost card usage by offering cash prizes to over 100 winners, with a top prize of BHD 2,000. Winners will be determined based on their spending during the campaign period, with higher spending increasing the chances of winning. Prizes start at BHD 50, and participants must spend at least BHD 200 to qualify. The campaign also offers benefits such as competitive foreign exchange rates and no international transaction fees for Multi-Currency Prepaid Card users making transactions in the same card currency. For more details, customers can visit the bank's website or contact them through various channels.
Al Salam Bank, in collaboration with the Ministry of Housing and Urban Planning and Eskan Bank, has launched "Tasheel+", a new financing solution that combines the features of the "Mazaya" and "Tasheel" schemes. This product offers up to BD 91,000 in financing with flexible contribution options, aiming to provide comprehensive financial solutions for social housing initiatives. Additionally, Al Salam Bank introduced "Reducing Installment Additional Financing," which decreases installment amounts over time as the client's contribution increases, allowing for higher overall financing while maintaining stable monthly payments. The bank's Deputy CEO, Anwar Murad, and Head of Retail Banking, Mohammed Buhijji, emphasized the bank's commitment to supporting national housing initiatives and promoting financial inclusion. The first 20 clients of the program will receive a BD 500 cashback, and all beneficiaries will enjoy benefits such as exemption from valuation and fire insurance fees, no down payment, and competitive profit rates, subject to campaign terms and conditions. For more details, contact Al Salam Bank or book an appointment via the Skiplino app.
ONE App, powered by Al Salam Bank, has launched a new feature called the "Digital Marketplace," which offers users instant access to a wide range of digital vouchers and gift cards from various local and international merchants at competitive prices. This feature aims to provide a flexible and secure shopping experience, allowing users to easily browse, select, and purchase vouchers or gift cards, which are activated immediately upon purchase. The marketplace includes options such as retail stores, delivery apps, digital subscriptions, and telecom services, offering users diverse choices. Haitham Al-Haddad, General Manager of ONE App, highlighted the app's commitment to delivering innovative digital solutions and enhancing user experience. The Digital Marketplace is part of ONE App's broader mission to offer smart financial solutions that promote financial independence and help users manage their finances more effectively.
Al Salam Bank has launched the 2025 Danat Savings Scheme, the largest in Bahrain's history, with a total prize value exceeding BD 4 million. The scheme includes three grand prizes totaling BD 3 million, with two individual prizes of BD 1 million each and a third prize of BD 1 million shared among ten winners. For the first time, a monthly grand prize of BD 100,000 will be awarded, alongside 50 monthly cash prizes of BD 500 and 50 youth prizes of BD 200 for clients aged 10 to 18. A monthly loyalty prize of BD 1,000 will also be available for Danat Plus account holders. Clients earn draw entries based on their investment amounts, with additional benefits for Danat Plus account holders. The scheme aims to promote saving and investment, offering opportunities to transform clients' lives. Since its inception, the Danat Savings Scheme has awarded over BD 15 million in prizes to more than 8,000 winners, including grand prizes such as luxury villas and gold bars. The 2025 scheme was launched following the announcement of the 2024 grand prize winner to maintain excitement and encourage participation.
Al Salam Bank has signed a Memorandum of Understanding with Eagle Hills Diyar to offer real estate financing solutions for clients interested in purchasing residential units in Marassi Bay, Marassi Terraces, and Palace Residences in Bahrain. The collaboration aims to enhance homeownership opportunities by providing competitive profit rates, a grace period of up to six months, and loyalty reward points. Clients will also receive a complimentary consultancy session for interior design. Mr. Anwar Murad of Al Salam Bank expressed the partnership's goal to provide innovative financing solutions, while Dr. Maher Al Shaer of Eagle Hills Diyar highlighted the strategic step in offering attractive financing options. This agreement aligns with Al Salam Bank's strategy to enhance its real estate financing offerings and support the housing sector.
Al Salam Bank in Bahrain has achieved the ISO 9001:2015 Quality Management System Certification for its Shari’a Audit Department for the second consecutive time. This certification, awarded by Lloyd’s Register Quality Assurance Limited and accredited by the United Kingdom Accreditation Service, makes Al Salam Bank the first Islamic bank in Bahrain to receive this recognition. The certification highlights the bank's commitment to global quality management standards and reflects the efforts of its Shari’a Audit Department in maintaining high professional standards. The ISO 9001:2015 certification is a renowned standard for quality management, ensuring improved performance, quality control, and compliance with legal and regulatory requirements. Mr. Ehab Ahmed, Deputy CEO of Corporate Affairs at Al Salam Bank, expressed satisfaction with the achievement, emphasizing the bank's dedication to adopting best practices, enhancing operational efficiency, and providing quality banking services.

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News Update From Al Salam Bank B.S.C

Disclosure: Post share buyback announcement

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.

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DFM News

News Update From Al Salam Bank B.S.C

Disclosure: Post share buyback announcement

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.

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News Update From Al Salam Bank B.S.C

Disclosure: press release

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.

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DFM News

News Update From Al Salam Bank B.S.C

Disclosure: Post share buyback announcement

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DFM News

News Update From Al Salam Bank B.S.C

Disclosure: Post share buyback announcement

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News Update From Al Salam Bank B.S.C

Disclosure: Press release

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News Update From Al Salam Bank B.S.C

Disclosure: BOD meeting

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News Update From Al Salam Bank B.S.C

Disclosure: Results of BOD meeting

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News Update From Al Salam Bank B.S.C

Disclosure: Press release

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DFM News

News Update From Al Salam Bank B.S.C

Disclosure: BOD meeting

1. Attached Document