Al Salam Bank-Bahrain reports half yearly net profit of $40.5m

Notes and media contacts

Al Salam Bank was incorporated on 18 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 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 has achieved excellent financial results during its second year of operations, where its second year net profit during the year ended 31 December 2007 reached BD23.1m ($61.6m).

For further information, please contact:
Suhair Al Ajjawi
Manager Corporate Communications
Office: +973 17560090
Fax: +973 17560003
Mobile: +973 39912166