Bahraini Saudi Opens New Branch in Al Hamala

Published March 31st, 2010 - 02:22 GMT

Bahraini Saudi has announced the official opening of its Al Hamala branch. Situated at the heart of an active commercial area, the new branch enjoys a strategic location with close proximity to a large population of Bahraini Saudi customers.

Al Salam Bank Bahrain (ASBB) Director & CEO, Mr. Yousif Taqi, Bahraini Saudi Chairman, Dr. Anwar Khalifa Al Sada, and Central Bank of Bahrain Executive Director, Mr. Khalid Hamad opened the new branch in an official ceremony attended by VIP invitees from the Central Bank of Bahrain, commercial and banking sector and senior officials from Bahraini Saudi and ASBB.
The Al Hamala branch will offer a wide range of Shari’a compliant services including normal branch services like cash and cheques deposits and withdrawals, remittances inside and outside Bahrain, retail financing including personal financing, vehicle financing, property financing and high yielding Wakala deposits. 

The new branch will also meet the needs of small to medium-sized companies in the retail, manufacturing, construction, services and real estate sectors through a full range of services including Shari’a compliant overdrafts, Murabaha, Ijarah and Musharaka financing, import letters of credit, trust financing and different types of guarantees.

Staffed by Bahraini Saudi’s specially-trained customer service representatives, the new branch will also assist customers who wish to open accounts, enquire about Bahraini Saudi’s range of products and services, and other retail and commercial banking activities.

Since July 12, 2009, Bahraini Saudi has been a subsidiary of Al Salam Bank - Bahrain. Having embarked on a public awareness campaign to inform its stakeholders about this acquisition and its resultant benefits, Bahraini Saudi is intent on educating its customers about this symbiotic relationship where Bahraini Saudi's retail heritage and ASBB's strong corporate, private banking and investments portfolio will be leveraged to maximize customer benefit.

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