MANAMA, BAHRAIN – Ithmaar Bank, a Bahrain-based Islamic bank, inaugurated today (ed note: 05/07/22) its new Main Branch, exclusively for businesses and corporate customers.
The inauguration follows days after the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator, published its approval of the transfer of all Ithmaar Bank’s banking business related to individual customers to Al Salam Bank.
The new Ithmaar Bank Main Branch, located on the ground floor of Seef Tower, was inaugurated by Central Bank of Bahrain Executive Director - Banking Supervision, Khalid Hamad Al-Hamad, in the presence of the Ithmaar Bank Chief Executive, Ahmed Abdul Rahim, Ithmaar Bank Deputy Chief Executive Abdul Hakeem Al Mutawa, and Ithmaar Bank General Manager, Business Banking Group, Abdulla Abdulaziz Talib, as well as other bank executives and key corporate customers.
“This is an important milestone in our transformation into an exclusively corporate-focused Islamic bank,” said Abdul Rahim. “The inauguration of the new Ithmaar Bank Main Branch marks the start of one of the most significant transformations in our fourty-year history, and builds on our rich history of innovation as one of the region’s Islamic banking pioneers,” he said.
“We are excited to start this new, promising chapter of growth, and look forward to providing our business and other corporate customers the exceptional Islamic banking experience they’ve come to expect from the Ithmaar Bank brand,” said Abdul Rahim. “With our new undivided focus on corporate customers, we are confident that we can meet and exceed their expectations,” he said.
The new, exclusively corporate-focused Ithmaar Bank Main Branch is located at the ground floor of Seef Tower, where the Bank previously (most recently as the retail-focused Ithmaar Bank and, before that, as its predecessor, Shamil Bank) had its Main Branch.
The Main Branch is strategically located right next to Seef Mall, at the heart of Seef District, a thriving and fast-growing commercial area. It offers corporate and business entities easy access and hassle-free parking, and is across the road from key government services, including a public notary, as well as the Bahrain Chamber of Commerce.
The new Main Branch is the only branch in the exclusively corporate-focused Ithmaar Bank network, reflecting the focused approach the Bank has adopted, as well as changing market demands.
About Ithmaar Bank:
Ithmaar Bank B.S.C. (closed) (“Ithmaar Bank”) is a Bahrain-based Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain. Ithmaar Bank is a wholly owned subsidiary of Ithmaar Holding B.S.C. which is listed on the Bahrain Bourse, and Dubai Financial Market.
Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs of institutions. Ithmaar also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan) and locally through Dilmunia Development Fund I L.P.