Prime Minister Sheikh Khalifa Bin Salman Al Khalifa receives Al Salam Bank Committee of Founders
- Bahrain: Tuesday, October 04 - 2005 at 09:20
- PRESS RELEASE
Prime Minister of the Kingdom of Bahrain Sheikh Khalifa Bin Salman Al Khalifa, received the founders of Al Salam Bank headed by Mohammed Ali Al Abbar, Chairman of Al Salam Bank, Hussein Mohammed Al Meeza, Vice Chairman, and the rest of the founding members on Monday 3rd of October 2005.
During both the visits the delegation expressed their future plans with its mission, vision for the establishment of Al Salam Bank in Bahrain in addition to the goals set to be achieved within the next 5 years.
The officials of Bahrain have shown great interest in the Islamic finance program that the bank will implement to finance projects in the country which will support Bahrain's economy. Furthermore, the delegation members have presented a list of innovative Islamic banking services that will be offered by the bank in Bahrain for the individuals and companies that will abide by the advanced monetary policies in Bahrain.
This visit has come shortly after announcing plans for Al Salam Bank's establishment in Bahrain with a capital of BD 100 million and in the next stage it is expected to offer its shares to IPO in several financial markets in the region.
"The great official hospitality and interest we received in the Kingdom of Bahrain has encouraged us to take the step of inaugurating Al Salam Bank in Bahrain. Our meetings with the Kingdom's Prime Minister and Crown Prince are evidence ot the great support that officials of the Kingdom are giving to GCC projects," said Mohammed Ali Al Abbar, President of the Committee of Founders.
"The increasing importance of the Kingdom of Bahrain as a financial and banking hub in the region for different banks and global financial establishments is one of the main reasons that has pushed us to invest and establish Al Salam Bank in Bahrain, in addition, also the economic facilitations which has made the kingdom an important centre of attraction for Arabic and foreign investments" added Al Abbar.
Al Salam Bank in Bahrain will be established in cooperation between Amlak, Emmar, Dubai Investment Group (The Executive Office), Al Salam Bank in Sudan, the Lebanese Canadian Bank and a group of GCC businessmen and investors.
Adding to that, Hussein Mohammed Al Meeza, Vice President of the Committee of Founders said: "Al Salam Bank will do its best to achieve strategic partnerships with businesses and companies, and to be one of the major participants in the ongoing growth and development. The bank will be equipped with all necessary requirements for this crucial start along with the intensive study undertaken and maximum effort put to provide the best in Islamic Banking services."
The announcement of the establishment of Al Salam Bank in Bahrain came after the huge success that Al Salam Bank has achieved in Sudan and the place it has taken in the middle of the Sudanese financial market since its launch on the 25th of May 2005 with the greetings and support of the Sudanese and the valued investors. Just like in Sudan the bank is expecting to develop and finance several sectors that will range between real estate, agriculture and economy in Bahrain.
From his side, George Abu Jaudah, CEO of Lebanese Canadian Bank, described establishing Al Salam Bank in Bahrain as a promising and futuristic move. "The achievement by Al Salam Bank in Sudan, under the leadership of Al Abbar and Al Meeza, in one year is a remarkable one. We are all very proud of it", commented Abu Jaudah.
Al Salam Bank aims at playing a leading role in the Islamic Banking market in Bahrain through unique banking products and solutions designed by the experts in this field which has started to take the leading positions in the Al Salam Bank.
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