Al Salam Bank-Bahrain adopts Fermat's Integrated Risk Management Solutions

Notes and media contacts

For further information contact Ms Suhair Al Ajjawi, Manager Corporate Communications:
Tel: +973 17560090
Fax: +973 17560003

Fermat is a leading provider of integrated risk and performance management software for the global financial services industry. Its award winning products, which address enterprise-wide internal and regulatory requirements, assist financial institutions to reduce risk and maximize return in their day to day business decisions. Fermat was selected as Software Product of The Year 2008 by Risk Magazine and has been voted by Risk Magazine readers as the number 1 Basel II vendor for two consecutive years. Fermat has a strong international focus. Its teams of 30 different nationalities are servicing over 100 references sites in 30 countries throughout Europe, Africa, the Middle East, North America, Latin America and Asia Pacific. For further information, please visit www.fermat.eu.

Al Salam Bank-Bahrain was incorporated on 19 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 Shari'a compliant financial services. 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.

The Bank was listed on the Bahrain Stock Exchange on 27 April 2006. The founding shareholders of Al Salam Bank hold 65% 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's net profit for the year ended 31 December 2007 reached BD23.1m ($61.4m) compared to BD16.4m ($43.5m) for the first year ended 31 December 2006.