Al Salam Bank-Bahrain launches wakala offer

MANAMA: Al Salam Bank-Bahrain has launched a campaign offering its wakala account holders preferential expected profit rates for tenors of three months and longer.

All eligible customers will be entered into a monthly draw, with three winners receiving triple their expected profit rates, capped at BD2,500, the bank said yesterday.

To be eligible, customers must have a minimum of BD 5,000 invested in their wakala account for at least a three-month period.

The campaign, which started last Sunday, will continue until December 6.

Mohammed Buhijji, head of retail banking at Al Salam Bank-Bahrain said, “Our Wakala accounts offer our customers a smarter solution for investing their money, allowing them to relax at home while their money goes to work. Thanks to the launch of our mobile banking application, it is now easier than ever to open an account.

“The application allows for entirely digital onboarding, which means customers can open a wakala account and start making their investments in minutes, without the need for any physical documentation or even having to set foot in a physical branch.”

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