Al Salam Bank-Bahrain sponsors 'Why Invest in Malaysia' forum

Notes and media contacts

For further information, please contact Suhair Al-Ajjawi, Corporate Communications Manager:
Office: +973 17560090
Fax: +973 17560003
Mobile: +973 9912166

Al Salam Bank was established on 23 January 2006 in the Kingdom of Bahrain with a paid-up capital of $318m (BD120m). Al Salam Bank Bahrain BSC was licensed by the Central Bank of Bahrain to provide financial services compliant with Shari'a. The Bank's vision is to become a leading and influential power in the Islamic banking industry through the provision of Shari'a compliant banking services to a selected segment of clients.

The Bank's Initial Public Offering (IPO) of 35% of the paid-up capital, which closed in March 2006, raised over $7bn (BD2.7bn) and was the largest IPO ever in Bahrain. The Bank was listed on the Bahrain Stock Exchange on 27 April 2006. The founding shareholders of Al Salam Bank hold 65 per cent of the paid-up capital. They include Emaar Properties, Amlak Finance, Dubai Investment Group, Dubai Holding, Global Investment House (Global) and Dubai Islamic Insurance and Reinsurance Company (Aman).
The Bank recently announced that it had made a net profit of BD17.4m ($46.2m) during the nine months of the current year, an increase of BD12.2m ($32.4)m over the same period in 2006.