Manama: Al Salam Bank-Bahrain (Al Salam Bank) has been named the best Islamic Retail Bank in Bahrain 2020 by the London-based Global Banking and Finance Review. The award is the second prestigious award for Islamic Banking the Bank has received this year. It follows closely on from Al Salam Bank being named best Islamic Bank in Bahrain for the second year in a row by US-based finance magazine Global Finance.
“2020 has so far been defined by near unprecedented global disruption and upheaval, but also by rapid digital advancement in how financial institutions operate and how consumers access and use their services. At Al Salam Bank we have focused on ensuring that for us and our customers, business continues as usual. Thanks to our ongoing digital strategy we have been able to meet these goals, maintaining and even enhancing internal and customer facing communications, while launching our new digital banking application for our retail customers to safely and conveniently access our services,” Rafik Nayed, Group CEO of Al Salam Bank-Bahrain said.
“Our efforts have been reflected in our results for the first half of the year. Despite being a period of great global uncertainty, we have been able to maintain healthy liquidity levels and even recorded strong growth in total assets, a year-on-year increase in total operating income and an improvement in operational efficiency. I’m delighted that the tireless efforts of the Al Salam Bank team have been deservedly recognised by this prestigious award.”
Recent months have seen the Bank launch a diverse range of digital products and offerings aimed at further enhancing services for its retail banking customers. These include WhatsApp banking, the Bank’s first virtual branch and its flagship mobile banking app, which allows for entirely digital onboarding in addition to providing a full range of banking services.
