Bahrain's Al Salam Bank strengthens Seychelles ties

Al Salam Bank-Seychelles offers full-fledged onshore and offshore commercial banking services


MANAMA: A delegation from Al Salam Bank-Bahrain (ASBB) headed by group chief executive Rafik Nayed met Seychelles President Danny Faure, who is on his first state visit to Bahrain.

They discussed the progress at Al Salam Bank-Seychelles (ASBS), a joint venture between ASBB and the Seychelles Pension Fund (SPF), and its contribution to the development of the domestic financial services industry in the Seychelles.

Mr Nayed, ASBS vice chairperson and SPF CEO Lekha Nair and members of ASBB’s executive management also welcomed Seychelles minister of finance, trade, investment and economic planning Maurice Loustau-Lalanne at the bank’s headquarters in Manama where they explored various initiatives and opportunities for co-operation.

Mr Nayed said: “It was an honour to meet President Faure during his visit to the kingdom and we were delighted to host minister Loustau-Lalanne at our headquarters. While Seychelles is renowned as a leading tourist destination, its financial sector provides a range of untapped growth opportunities for onshore and offshore banking services. Our presence in Seychelles forms an integral part of our banking network. We remain committed to the growth of ASBS to become a leading financial institution in the Indian Ocean Rim region and a conduit to the Mena region.”

Officially launched and inaugurated in February 2019 by President Faure, ASBS offers full-fledged onshore and offshore commercial banking services, adopting international standards and best practices. ASBS is located in the Capital Victoria at Maison Esplanade, Francis Rachel Street.

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