Al Salam Bank-Bahrain and TIIB sign agreement to issue SR857m sukuk Manfa'a

Notes and media contacts

Al Salam Bank - Bahrain:
Al Salam Bank-Bahrain B.S.C. was incorporated on 19 January 2006 in the Kingdom of Bahrain with a paid-up capital of $318m (BD120m). Al Salam Bank-Bahrain 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-Bahrain hold 65% of the paid-up capital. They include major local, regional and international companies and individuals such as 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).

Al Salam Bank Bahrain announced a net profit of BD22.7m ($60.1m) for the nine month period ended 30 September 2008 registering increase of 30% compared to BD17.4m ($46.2m) for the corresponding period in 2007. The earnings per share for the period was 18.9 fils against 14.5 fils for the corresponding period in 2007. The results represented a quarterly net profit of BD7.4m ($19.6m) for the quarter ended 30 September 2008 compared to BD3.3m ($8.8m), an increase of 120%, in the corresponding quarter in 2007.
Tadhamon International Islamic Bank:
Al Tadhamon Bank is an Islamic Financial Institute incorporated in Yemen in 1995 with a paid-up capital of $100m by a group of businessmen and other Arab financial institutes. Since the kick-off of the commercial operations, the bank was able to establish and develop investment banking system compliant with Shari'a and provide distinctive banking services and investments to all its shareholders and depositors taking in consideration the professional economic standards. The bank has recently established an investment company in Bahrain; Tadhamon Capital.
Unaudited Financials for year end 2008 :Net Profit $100m for shareholders and depositors, Total Assets $1.4b (out of which deposits are $1.1b), SHE ($170m)

Rawacheen Al Hijaz for Management and Marketing Projects
Rawacheen Al Hijaz seeks to excel and pioneer in providing non-traditional property marketing services with high professionalism and expand by marketing innovative property solutions of high investment returns with preserving balanced values in its projects and maintaining the Shari'a principles in its dealings and in the services it provides.
Rawacheen Al Hijaz constantly seeks to apply best practices in marketing, managing and operating properties by adopting the highest standards of management methods based on field studies. Rawacheen Al Hijaz also seeks to change old concepts in managing residential and commercial facilities in order to uplift such facilities to a level that guarantees the interest of all pertinent parties and maintains the investment values of the facilities and keep them within an acceptable working conditions round the year.

For further information, please contact:
Adnan Alshaikh
Senior Manger
Corporate Communications
Office: +973 17560166
Fax:+973 17560003