Al Salam Bank launches Al Salam Zone to Ensure Smooth Transition for Ithmaar Clients

Press release
Published December 13th, 2022 - 06:37 GMT
Al Salam Bank launches Al Salam Zone to Ensure Smooth Transition for Ithmaar Clients
During the event
Al Salam Bank recently launched "Al Salam Zone" at City Centre Bahrain, offering Ithmaar Bank retail clients the opportunity to ask questions and learn more about Al Salam Bank's integration roadmap.

Al Salam Bank recently launched "Al Salam Zone" at City Centre Bahrain, offering Ithmaar Bank retail clients the opportunity to ask questions and learn more about Al Salam Bank's integration roadmap. Located on the mall's first floor until 28 February 2023, the Zone will feature an Integration Hub to help ensure a seamless transition for Ithmaar's retail clients migrating to Al Salam Bank. It will also provide visitors with free entry to inspirational experiences associated with the Bank's "Inspired to Grow" campaign. 

The opening ceremony was held in the presence of the Central Bank of Bahrain (CBB) representative, Mrs. Khawla Ahmed Hasan Ebrahim, Acting Director – Islamic Financial Institutions Supervision Directorate, in addition to the Bank's Board of Directors and Executive Management.

Earlier this year, Al Salam Bank acquired Ithmaar Bank's consumer banking business, creating Bahrain's largest Islamic bank. To ensure the seamless transition and prevent client disruption, Al Salam Bank has implemented a detailed integration roadmap so clients can continue to use products and services as normal until the transition is completed. Al Salam Zone is an important part of this roadmap, providing a space where clients can familiarize themselves with the brand as well as the bank's growth and digitalization journey. 

Rafik Nayed, Group Chief Executive Officer of Al Salam Bank, said: "We are pleased to invite the public to experience this innovative, interactive space and immerse themselves in the Al Salam Bank brand. Al Salam Zone will provide Ithmaar Bank retail clients with peace of mind about the integration and demonstrate how they will benefit from a combined workforce and an expanded network of branches and ATMs following the acquisition. The Zone will showcase how our journey to becoming the Kingdom's largest Islamic bank has been guided by a visionary roadmap that accelerates growth. Our recent transaction fuses two major Islamic financial forces and will unlock significant stakeholders' value through new synergies, improved operations, and enhanced efficiencies."

Anwar Murad, Deputy Chief Executive Officer of Banking at Al Salam Bank, commented: "We are forever fueled by our passion for excellence and desire to exceed the expectations of our clients. Al Salam Zone seeks to immerse the public in our brand and engage members of the community, acting as a symbol of the bank's journey of growth and reflecting our collaborative spirit and harmonious culture."

He added: "The Integration Hub at the Zone is part of our pledge of ensuring a seamless transition enabling Ithmaar Bank retail clients to openly enquire and ask questions about the migration or simply complete routine procedures such as issuing a card."

The futuristic Zone reflects Al Salam Bank's 'Inspired to Grow' campaign and features a myriad of engaging experiences. The space's design is inspired by a tree, embodying the bank's sturdy roots, history of achievements, and sustained growth trajectory.

The Zone's spaces include Monty Café, where coffee is served by robots and a virtual reality (VR) simulator taking visitors on virtual adventures. Additionally, a Live Sketch area enables visitors to draw on tablets where they can see their pictures come to life on a digital LED screen. 

The space also features a Plantation Corner in which visitors can participate in the Inspired to Grow planting drive. On behalf of each participant, one tree will be planted in Bahrain starting in 2023. This is in line with the bank's ongoing efforts to embed Environmental, Social, and Governance (ESG) awareness within the community and its commitment to contributing to doubling tree coverage around the Kingdom by 2035. 


Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.

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