Al Salam Bank-Bahrain stock split due on 18th November

The matter that would make the shares increases from 120 million to 1.2 billion shares.

The Bank's Chairman H.E. Mohammed Ali Alabbar said in a statement that in order to bring the EGM's decision into effect, the Bahrain Stock Exchange has been requested to proceed with the stock split as of Sunday 18 November 2007. He pointed out that the stock split would make it easier for shareholders and traders to promote the shares.

This comes within the Bank's strategic outlook to achieve the best financial returns for the shareholders and enhance the Bank's position to be one of the pioneering Banks regionally and internationally by introducing creative financial and investment solutions that cope with the best available financial products, services and practices being provided by major international financial and investment banks.

H.E. Alabbar said that following the stock split, the nominal value of the Bank's shares will be in coherence with the nominal value of the shares of the banks and firms listed in the Bahrain Stock Exchange. The nominal value of the shares of most of the listed banks and firms are at the value of fils 100, hence splitting Al Salam Bank-Bahrain's shares would make it easier for the shareholders and investors to evaluate the bank's shares and compare them with the shares of the other listed firms and banks, he clarified.

H.E. Alabbar affirmed that Al Salam Bank-Bahrain seeks in doing business a performance with embedded creativity and distinction, and puts the ambitions of its shareholders at the forefront of its strategic priorities in pursue to achieve its vision to become a leading force in the Islamic financial services industry by providing a differentiated Shari'a compliant offering to focused segments.