|21 July, 2019

Ithmaar Bank earns prestigious regional award for its personal finance offerings

Ithmaar Bank, a Bahrain-based Islamic retail bank, was named "Best Bank for Personal Finance in Bahrain" by the World Union of Arab Bankers (WUAB)

Al Mutawa (centre) receives the award from Dr. Joseph Torbey (right) in the presence Fattouh.

Al Mutawa (centre) receives the award from Dr. Joseph Torbey (right) in the presence Fattouh.

MANAMA: Ithmaar Bank, a Bahrain-based Islamic retail bank, was named “Best Bank for Personal Finance in Bahrain” by the World Union of Arab Bankers (WUAB) at a high-profile ceremony attended by senior bankers from across the Middle East.

The award was presented to the Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa, by the WUAB Chairman, Dr. Joseph Torbey, in the presence of the WUAB Secretary General, Wissam Fattouh, at a lavish ceremony hosted in Beirut, Lebanon.

Ithmaar Bank earned the prestigious award following a comprehensive selection and review process that was conducted by a committee of high-level economists and banking professionals, as well the research department of the Union of Arab Banks (UAB) and the WUAB.

“It has been, in many ways, a period of tremendous growth for us at Ithmaar Bank, and we are pleased that our growing success has earned the Bank regional praise and recognition,” said Al Mutawa. “This, in turn, also helps reinforce Bahrain’s reputation as a key banking and financial services hub in the region,” he said.

“The award is a reflection of the importance we attach to customer satisfaction,” said Al Mutawa. “We listen closely to our customers and work hard to ensure we meet or exceed their expectations – and our award-winning personal finance offering is a result of this very commitment to customer service excellence,” he said. “We recognised, for example, that our customers demand quick approvals, faster turnaround times, competitive profit rates and accessible branches - so we tailored compelling personal financing offerings that were specifically designed to meet their requirements,” said Al Mutawa. “Throughout the year, we also launched various special offers on our personal financing products,” he said.

Ithmaar Bank operates one of the largest retail banking networks in Bahrain, with 16 branches and 42 Automated Teller Machines (ATMs) in strategic locations around the Kingdom,” said Al Mutawa. This makes us one of the most accessible banks in the Kingdom, and puts us at a unique position to better serve our customers,” he said.

Fattouh congratulated Ithmaar Bank on winning the award and wished the Bank continued success.

“The Arab Banking Awards celebrates achievements of excellence across the Arab Banking sector,” said Fattouh. “Winning the Best Bank for Personal Finance in Bahrain category is testimony to Ithmaar Bank’s commitment to excellence in customer service, and we congratulate them on this major achievement,” he said.

“Ithmaar Bank was selected by a high-level committee of regional economists and bankers, as well as the WUAB and UAB research teams,” said Fattouh. “It is a great achievement, both for the Bank and for Bahrain’s banking and finance industry,” he said,

The WUAB is a prominent Arab Forum that is patronized by Arab leaders of economics and finance, as well as influential banking pioneers, top experts, successful businessmen, remarkable professionals and brilliant entrepreneurs. WUAB, a sister organization of the UAB, is a non-profit, Non-Governmental Organization (NGO)) that enjoys the privileges, immunities and exemptions extended to regional and international organizations operating under the Arab League. The UAB enjoys full financial, administrative and organizational autonomy. It is considered the true representative of the Arab banking and financial community, and the major supporter to Arab banks and financial institutions as well as the Arab mutual banking institutions.

-ENDS-

Photo captions:

Award.jpg: 

Ceremony.jpg: Audience at the awards ceremony

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 and provides retail, commercial, treasury & financial institutions and other banking services.

Ithmaar Bank is a wholly owned subsidiary of Ithmaar Holding B.S.C. which is listed on the Bahrain Bourse, Dubai Financial Market and Boursa Kuwait.

Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs of individuals and institutions. Ithmaar also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan). www.ithmaarbank.com

© Press Release 2019

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