MANAMA, BAHRAIN: Al Salam Bank was recently awarded as the ‘Best Domestic Bank in Bahrain – 2021’ as part of Asiamoney Middle East’s line up of awards for Best Bank.
Bank has depicted solid financial performance and unwavering initiative in providing a diversified portfolio of banking products and services.
The Asiamoney Awards, which fall under Euromoney Global Ltd, aim to highlight regional pioneers of the banking industry and celebrate their success and accomplishments.
The prestigious award from Asiamoney was earned as a result of several achievements in the past year, recognizing Al Salam Bank’s excellence in providing the ideal model for exceptional and integrated banking.
In spite of the circumstances which have faced financial institutions and industries across the world as a result of the ongoing pandemic, Al Salam Bank has secured milestone successes and witnessed incredible progress on its journey towards digital transformation, maintaining a leading position in the Kingdom’s banking sector.
In July 2020, the Bank signed an agreement with Bahrain Bourse and the Central Bank of Bahrain (CBB) to offer innovative Shari’a-compliant brokerage services, which contributed to creating a booming market for Bahrain-issued Ijarah sukuk certificates used in property leasing.
In addition, the Bank further upgraded its digital infrastructure and offerings to cater to remote-working routines, which included the launch of the Bank’s mobile application, Al Salam App, a WhatsApp banking service, alongside the Al Salam virtual branch which enables clients to easily book appointments through the Skiplino application.
In addition to expanding its services to encompass new client segments, Al Salam Bank has successfully sustained its focus on providing relevant financial products and services, all while drawing on the depth and strength of its existing client relationships.
Al Salam Bank also set into motion a new sustainable and future-ready vision and strategic direction, underpinned by a newly formed Brand DNA, and new brand values and principles, which actively aim to deliver an enriching and transformative experience to clients by simplifying and humanizing the customer journey through personalization, convenience and rewards; providing curated, tailored solutions and a refined level of service to support clients in meeting their financial goals efficiently and seamlessly.
The Bank’s Brand DNA, reinforced by the Brand Promise, ‘We nurture relationships by enriching experiences’, comprise Brand Values that support the Bank’s collaborative work culture, as well as the following Guiding Principles; We Enchant our Clients, We Inspire Our People, We are Digitally Native, We Do the Right Thing, and We Act with Empathy.
Commenting on the award, Rafik Nayed, Group Chief Executive Officer (Group CEO) of Al Salam Bank, said, “We are incredibly proud to receive this award, which highlights Al Salam Bank’s milestone achievements in the banking industry, and robust financial results, particularly in the wake of the challenges brought on by COVID-19.
As a Bank, we’ve been able to effectively pivot our strategic direction in the face of these challenges, and have succeeded in achieving impressive growth across all fronts.”
“With our flexible and proactive mindset, we have emerged in a position of strength, having placed clear strategies in place to keep pace with the everchanging nature of these times. On the heels of successfully completing our transformation journey, we continue to invest in cementing the Bank’s leading position in the banking and finance industry.
Ultimately, our commitment to our clients lies at the heart of our operations and ethos as a Bank, and the initiatives we have undertaken, in the likes of accelerating the roll out of key digital initiatives and advanced solutions to accommodate the new normal,” the Group CEO added.
Besides consistently expanding its scope of activities in the Kingdom’s banking sector, particularly in terms of savings deposits and financing solutions, Al Salam Bank has forecasted positive results and a robust performance of its financial results for remainder of 2021 and beyond.