Bahrain Islamic Bank Wins Most Innovative Islamic Bank for 2018

Press release

Published September 9th, 2018 - 11:12 GMT

Hasan Jarrar, Chief Executive Officer of BisB

Bahrain Islamic Bank (BisB) has emerged as the winner of the prestigious ‘Most Innovative Islamic Bank Award’ for the year 2018 from International Finance Magazine (IFM), a premium financial and business analysis magazine in the UK which honors industry talent on an international platform.

The award comes in succession to the Bank’s continuous efforts towards innovation and driving digitization in the financial industry by deploying state-of-the-art digital platforms and innovative product and service offerings to its customers.

“We are delighted to win IFM’s prestigious award which is a living testament to the success of our banking strategy that focuses on driving digitization and is a reflection of our commitment to providing excellent banking services” said the Chief Executive Officer of BisB, Mr. Hassan Jarrar; adding “BisB has recently launched a number of innovative offerings and continually aims to enhance its services in order to offer a unique Sharia’a compliant portfolio of products and services to its customers.”.

The International Finance Awards celebrates industry excellence, recognizing key organizations that have achieved high standards of innovation and have contributing to raising the bar across a variety of fields, including Business & Finance, Real Estate, Telecom, and Oil & Gas.

Background Information

Bahrain Islamic Bank

Incorporated in 1979 as the first Islamic bank in the kingdom of Bahrain, and the fourth in the GCC. Bahrain Islamic Bank (BisB) has played a pivotal role in the development of the Islamic banking industry and the Kingdom’s economy. The Bank operates under an Islamic Retail banking licence from the Central Bank of Bahrain and is listed on the Bahrain Bourse.

At the end of 2016, the Bank’s paid up capital was BD 101 million, while total assets stood at BD 1042 million. The Bank’s modern branch network comprises 5 branches, 4 innovative financial malls, and 56 ATMs located throughout the Kingdom. A steadfast focus on continuous innovation, strong corporate governance and risk management, employee development, and the use of state of the art technology to deliver superior customer service, has cemented Bahrain Islamic Bank’s position as the leading Sharia’a – compliant bank in the Kingdom.