Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced the winners of the final raffle for the 2024 Grand Prizes of the “Al Waffer” Account. A group of players from the Bahrain National Football Team, champions of the 26th Arabian Gulf Cup, have participated in the announcement of said winners.
The raffle included five Grand Prizes for “Al Waffer” Account holders, with a total value reaching USD 2 million. This comprised of a Grand Prize worth USD 1 million for a single winner, along with four additional Grand Prizes worth USD 250,000 each. This initiative reflects the bank’s commitment to offering exceptional promotions that align with the aspirations of its clients and enhance their exceptional banking experience by increasing the number of grand prizes.
The prize raffle was conducted under the supervision of the Central Bank of Bahrain and the Ministry of Industry & Commerce to ensure the utmost transparency in the process. The National Team players and “Gulf Champions” have announced the names of the five winners, who are Mr. Mazen Ebrahim Mohammed Kamal who won the USD 1 million Grand Prize, while the other four winners who were Ms. Saba Mohannad Fahmi, Mr. Salem Nabil Al Sherooqi, Ms. Fatima Saleh Kemeshki, and Mr. Jaafar Habib Hasan each received USD 250,000 Grand Prizes.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, expressed her delight stating “We are thrilled to congratulate Mr. Mazen Ebrahim Mohammed Kamal, the winner of the December 2024 Grand Prize of USD 1 million, as well as the four other Grand Prize winners, each receiving USD 250,000: Ms. Saba Mohannad Fahmi, Mr. Salem Nabil Al Sherooqi, Ms. Fatima Saleh Kemeshki, and Mr. Jaafar Habib Hasan. These substantial cash prizes are not merely rewards, as they offer a chance to fulfil their dreams and ambitions, and we are delighted to be part of their journey towards success.”
She continued “Our heartfelt thanks go to the National Football Team players for their active participation in celebrating the winners of the ‘Al Waffer’ Account’s grand raffle for 2024, which added a unique and extraordinary touch to the occasion. We also extend our congratulations to the National Team on their victory at the 26th Arabian Gulf Cup, a national achievement we are all proud of.”
Ms. Al Abbasi added “At Khaleeji, we are always committed to enriching our clients’ experience and exceeding their expectations. We have allocated exceptional cash prizes exceeding USD 3 million for ‘Al Waffer’ Account holders throughout 2024, and we are soon preparing to unveil unprecedented surprises for 2025. Stay tuned for announcements of new details and exceptional rewards throughout the year that will make the ‘Al Waffer’ Account your best choice.”
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the launch of a range of new services and enhancements to its “Hafeez” banking platform, as part of its commitment to enhancing its customer experience and providing innovative banking solutions that meet the needs of business owners.
The new improvements to the “Hafeez” platform allow owners of sole proprietorships to register on the platform using only their identity card and a personal photo “selfie”, with the ability to obtain both physical and virtual Debit Cards upon account creation. “Hafeez” users will also benefit from advanced features for managing Credit Cards, including the ability to settle outstanding balances, block and unblock cards, and view and download account information. A new dashboard has also been introduced, providing “Hafeez” users with a better overall view of their banking accounts and the tools they need to manage their businesses effectively. Additionally, several enhancements have been made to the overall user experience on the “Hafeez platform, improving its usability and efficiency.
On this occasion, Mr. Osama Ali Nasr, Chief Technology Officer of Khaleeji Bank, stated “We are excited to announce these new services that reflect our commitment to providing an exceptional banking experience for our sole proprietorship clients. Through the ‘Hafeez’ platform, we aim to simplify processes and offer valuable insights into banking transactions, thereby enhancing the user experience for entrepreneurs.”
For his part, Mr. Ahmed Mohamed Burashid, Head of Corporate Banking and Debt Capital Markets at Khaleeji Bank, added “We invite our sole proprietorship clients to take advantage of these new services, which represent an important step towards improving how they manage their financial affairs. The ‘Hafeez’ platform marks a turning point in the corporate banking experience, offering advanced features specifically designed to meet their needs.”
This announcement is part of Khaleeji’s ongoing efforts to lead digital transformation in the banking sector within the Kingdom of Bahrain and the GCC region. For more information, please visit the bank’s website or download the “Hafeez” banking application from the Apple Store or Google Play to benefit from these enhancements and new services.
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced a grand promotional campaign for “Al Waffer” Account Holders for the month of December, granting them the opportunity to win instant cash prizes worth up to BD 1,000 through the bank’s branches and special platforms in Souq Al Baraha – Diyar Al Muharraq and Al Liwan Mall – Hamala area, from 22nd to 30th December 2024. This initiative is the first of its kind launched by a bank in the Kingdom of Bahrain, with 6 promotional platforms simultaneously launched across the Kingdom.
The promotional campaign provides clients with more opportunities to invest in the “Al Waffer” Account during the month of December, which includes five Grand Prizes with a total value exceeding 2 million US Dollars, in addition to instant cash prizes on all promotional platforms with a value of up to BD 1,000.
This campaign seeks to promote a culture of saving among clients, reflecting the bank’s commitment to providing a stimulating banking environment for depositors, with a significant impact on their financial stability and ambitions. By organising promotional events, Khaleeji aims to highlight the importance of the “Al Waffer” Account as a distinguished financial tool that helps clients achieve their ambitions in accordance with the provisions of Islamic Shari’a.
In this context, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, expressed her delight at launching this initiative, stressing that this campaign offers great potential for positive client interaction while strengthening their partnership with the bank. At the same time, she noted Khaleeji’s keenness to always remain close to its clients, which is clearly reflected in this campaign through the launch of 6 promotional platforms in different regions in the Kingdom.
She added: “We invite everyone to participate in the “Al Waffer” Account Grand Promotion campaign for the month of December, by depositing into the “Al Waffer” Account for a chance to win instant cash prizes ranging from BD 50 to BD 1,000. Clients will also have greater chances to win in this year’s grand prize raffles. It is worth noting that the December Grand Prizes consist of 5 prizes, including a prize worth one million US Dollars for one winner, and 4 prizes worth 250 thousand US Dollars. We look forward to welcoming you at our branches located in Bahrain Financial Harbour, Sanad, Wadi Al Sail Mall, and Lulu Hidd Mall, in addition to our platforms in Souq Al Baraha and Al Liwan Mall from 22nd to 30th December.”
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced it being awarded the “Best Rebranded Bank in Bahrain for 2024” by International Business Magazine. This accolade is given to financial institutions that showcase remarkable innovations in their brand identity and reposition of strategies to enhance the customer experience while providing exceptional banking services.
Khaleeji’s receipt of this award reflects the successful launch of its new identity, which took place in June 2023. This new identity embodies the bank’s vision of offering banking solutions that adapt to the evolving needs of clients and meet their aspirations in an increasingly dynamic sector.
In this regard, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, has commended the bank’s achievement of this prestigious award attributed to the ongoing efforts towards innovation and development. He stated “We are proud to receive this award, which highlights our unwavering commitment to delivering outstanding services and a unique banking experience for our clients. The new identity is an extension of our ambitious strategic vision over the years, which came in response to our valued clients’ own ambitions, grounded in core values of Respect, Confidence, and Dynamism in dealings, thereby reflecting our forward-thinking expertise & ambitions within the sector.”
Khaleeji continues to envision a bright future in the Islamic Banking sector, committed to providing the highest levels of service to its clients and reinforcing its position as a leading choice in the industry and a partner in success, ambition, and achievement.
As a distinguished Islamic Bank, Khaleeji strives to fulfil clients’ ambitions through an Islamic Banking model offering a comprehensive range of high-quality banking services for individuals, companies and Shari’a-compliant investment opportunities.
Opportunity Network, a leading global digital business matchmaking platform, is thrilled to announce a new partnership with Khaleeji Bank. This collaboration is poised to revolutionize the business landscape for Khaleeji Bank’s clients, granting them exclusive access to a vast network of high-quality, verified CEOs and decision-makers with business opportunities worldwide.
Through this strategic partnership, Opportunity Network will provide Khaleeji Bank’s clients access to its exclusive platform, reserved for only the most credible and verified CEOs around the globe. This ensures high-quality and trustworthy connections, perfectly complementing Khaleeji Bank’s commitment to offering top-tier opportunities to its clients.
Opportunity Network’s extensive global reach, with over 72,000 members from more than 130 countries, will enable Khaleeji Bank’s clients to tap into international markets, uncovering new business opportunities, partnerships, and investments. This partnership opens up a world of possibilities for clients eager to expand their global footprint.
This collaboration aligns seamlessly with Khaleeji Bank’s strategy of leveraging cutting-edge technology to enhance client experiences. Opportunity Network’s digital platform aims to significantly boost Khaleeji Bank’s digital transformation efforts, providing innovative solutions that meet the evolving needs of clients.
Khaleeji Bank clients with companies generating revenues exceeding US$2.5 million will enjoy premier access to Opportunity Network’s platform, where they can connect with 72,000 verified members and explore over 20,000 live deals.
This unique value-added service not only attracts new clients but also helps retain high-value clients by presenting them with unparalleled growth opportunities.
“Partnering with Khaleeji Bank, a trusted and forward-thinking financial institution, is an exciting step for us as we expand into the Middle East,” said Brian Pallas, CEO and Founder of Opportunity Network. “Our platform is designed to facilitate critical transactions and business growth on a global level. Together, we are poised to create significant and lasting impacts on the growth and internationalization of Khaleeji Bank’s clients.”
“As we embark on this strategic partnership with Opportunity Network, we are thrilled to offer our esteemed clients unparalleled access to a global network of high-caliber CEOs and decision-makers. This will significantly enhance our clients’ business prospects, fostering growth and expansion opportunities that transcend regional boundaries.” said Ahmed Mohamed Burashid, Head of Corporate Banking & Debt Capital Markets at Khaleeji Bank.
Commenting further on the occasion, he added “By integrating Opportunity Network’s cutting-edge platform into our offerings, we are confident that our clients will be well positioned to capitalize on emerging market trends and the vast array of international business opportunities. This partnership reflects Khaleeji’s unwavering commitment to delivering exceptional client experiences and underscores our dedication to driving business success & achieving lifelong ambitions for our valued clients.”
“At Khaleeji Bank, we are continually seeking to provide our clients with innovative solutions that not only fulfil their immediate needs but also anticipate their future growth. This partnership with Opportunity Network represents a significant step forward in that mission.” said Maitham Abdulhameed Ghulam, Head of Business Development at Khaleeji Bank.
He further added “By giving our clients access to an elite global network of decision-makers and transformative business opportunities, we are enabling them to strategically position themselves for success in the evolving marketplace. We believe that this collaboration will serve as a catalyst for our clients’ ambitions, empowering them to tap into new markets and forge impactful connections that will drive their business forward.”
This partnership underscores the shared vision of both organizations to empower business leaders with unmatched global opportunities and to drive substantial growth in the MENA and international markets.
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has been appointed as the exclusive receiving bank for the upcoming initial public offering (IPO) of Al Abraaj Restaurants Group. The offering, managed by SICO, will launch on Sunday (November 24, 2024) and will run for two weeks until December 8, 2024.
The bank will provide all necessary facilities for submitting IPO applications, including technical support and guidance to ensure a smooth and efficient experience for all applicants. This IPO represents a significant step in supporting the growth of the restaurant sector in Bahrain and strengthens Khaleeji Bank’s role as a key partner in the Bahraini financial market, committed to supporting local businesses.
In this context, Mr. Maitham Abdulhameed, Head of Business Development at Khaleeji Bank, stated: “We are delighted to be part of this important IPO. At Khaleeji Bank, we value community partnerships, and our collaboration with SICO and Al Abraaj Restaurants Group reflects our commitment to supporting the growth of the Bahraini economy and enhancing the status of the financial market.”
Ms. Ameera Al Abbasi, Head of Retail Banking, added: “We are committed to providing a seamless and efficient experience for our clients. We are pleased to be the exclusive receiving bank for this offering, providing our support and expertise throughout the IPO process to ensure a positive experience for all participants. We invite interested parties to visit any of our branches located at the Bahrain Financial Harbour, Sanad and Lulu Hypermarket in Hidd, or to easily book an appointment through the ‘Skiplino’ app for their convenience.”
On his part, Mr. Wissam Haddad, Group Head of Investment Banking at SICO, said: “We are pleased to partner with Khaleeji Bank as the receiving bank for the Al Abraaj Restaurants Group’s IPO. Investors can submit their applications at its strategically located branches. This collaboration underscores our shared commitment to delivering accessible and effective financial services that cater to the needs of individual and institutional investors.”
Mr. Hamad Rashid Hilal Issa, Chairman of Al Abraaj Restaurants Group, commented: “We are excited about this partnership with Khaleeji Bank and SICO for this IPO, which represents a strategic step to support the efforts to drive growth in the restaurant and hospitality sector. We are optimistic about the support from Khaleeji Bank and SICO, which will undoubtedly help us achieve our expansion goals and enhance our position in both local and regional markets.”
It is noteworthy that Al Abraaj Restaurants Group was established in Bahrain in 1987 and is a leading company in the restaurant and hospitality sector, managing 16 brands across 37 physical locations and 22 cloud kitchens, employing around 1,200 staff. Its portfolio includes some of the most renowned restaurants such as Al Abraaj, Bindaira, NuAsia, Lumee, YaSalam, Otto, San Carlo Cicchetti, MazMiz, LaRo and Sangam, all known for offering unique dining experiences that cater to diverse tastes in Bahrain. The group also holds five franchise rights, three of which are in key cities in Saudi Arabia: Khobar, Jeddah and Riyadh.
As part of its serious expansion efforts in Bahrain, Al Abraaj Group will launch new concept restaurants in the Avenues Mall Bahrain expansion project, Al Liwaan in Hamala, and City Center Bahrain, in addition to completing its plans for direct presence in the Saudi market along with its franchise restaurants in the Kingdom.
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of a promotional campaign during Jewellery Arabia Exhibition 2024, which will be held from 26-30 November. Five lucky participants will win 100% cashback on their purchases made using Khaleeji Bank Credit Cards, with a maximum of BD 1,000 per winner.
This special offer encourages customers to explore the latest jewellery collections with a valuable chance to win 100% cashback per winner. The offer applies to all purchases made using Khaleeji Bank Credit Cards during the exhibition period.
To be eligible, customers must use their Khaleeji Bank Credit Cards when purchasing jewellery at the exhibition. The winners will be selected through a raffle draw, and their names will be announced at the end of the exhibition on Khaleeji Bank’s website and social media pages.
On this occasion, Ms Ameera Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated, “At Khaleeji Bank, we are proud to launch our special promotional campaign during Jewellery Arabia 2024, which will be held from 26 to 30 November. This campaign aims to enhance the shopping experience for our customers, who will have the opportunity to win 100% cashback on their jewellery purchases using our credit cards.”
She continued, “Three lucky winners will be selected, and each will receive cashback of up to BD 1,000. We encourage our customers to explore the latest luxury jewellery collections and get added value on their shopping. At Khaleeji Bank, we are always committed to providing the best offers and services to ensure our customers’ satisfaction and an exceptional banking experience.”
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the launch of its updated open banking services, which offer clients unprecedented flexibility and a comprehensive view of their accounts, cards, and financial resources. The new banking services bolster the bank’s leadership in the field of Digital Innovation.
The new open banking services grant several advantages to users of the Khaleeji App, most notably unified account management by linking accounts from other banks in the Kingdom of Bahrain through a single, easy-to-use platform.
The Khaleeji App also allows the transfer of funds between linked accounts, besides controlling expenses by tracking and monitoring spending across all linked accounts to obtain a clear understanding of financial expenses. Users can also manage their budgets by creating dedicated budgeting categories and allocating funds, allowing them to control and manage their expenses.
Furthermore, the new updates allow users to effectively track cash flows, get an overview of financial affairs, and plan a comprehensive financial vision through a 360-degree view of all linked bank accounts, facilitating an integrated financial plan.
On this occasion, Ms Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “The bank is proud to be one of the first in the Kingdom of Bahrain to adopt open banking services, supporting the digital transformation process through state-of-the-art banking services that enhance the Kingdom’s position as a regional leader in the field of financial innovation.”
Ms. Al Abbasi explained “With the release of these updates, Khaleeji continues pioneering the field of digital innovation, providing an integrated open banking experience supported by financial control and transparency, available to clients around the clock.”
Ms. Al Abbasi also pointed out “The enhanced open banking services allow clients to access their financial data with ease and transparency, enabling them to make informed financial decisions, as well as granting access to better financial products that account for their requirements and needs.”
For his part, Mr. Osama Ali Nasr, Chief Technology Officer at Khaleeji Bank, stated “The updated package embodies the bank’s commitment to providing innovative banking solutions that meet our clients’ growing needs, enhancing their ability to effectively manage their financial resources. We aim to provide tools that enable clients to achieve their financial ambitions, which will reflect in their banking experience with Khaleeji.”
He continued “We are confident that these updates will leave a significant imprint on our valued clients’ use of the app for the management of their financial portfolios. I invite all clients to update the Khaleeji App and benefit from its services.”
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Arcapita Group Holdings Limited (“Arcapita”), the global alternative investment firm, has signed a $50 million asset-backed financing facility agreement with Khaleeji Bank B.S.C (“Khaleeji Bank”).
Arcapita’s industrial real estate platforms in the GCC, the US, and the UK have experienced robust expansion, with the firm now managing approximately $1 billion in logistics assets across the GCC and $1.5 billion in the US. In private equity, recent strategic acquisitions, including DataFlow and NeoPay, with a combined value exceeding $550 million, have further strengthened Arcapita’s position as a market leader in the business services sector.
Mohammed Chowdhury, Chief Financial Officer at Arcapita, commented: “We are delighted to have entered into this facility agreement with Khaleeji Bank. This financing will support the execution of our investment strategies, particularly in the industrial real estate and business services, both of which have been key drivers of our success over the past few years.”
Ahmed Burashid, Head of Corporate Banking & DCM at Khaleeji Bank, added: “We are proud to announce the signing of this US$ 50 million financing facility with Arcapita, which shows Khaleeji’s innovative approach and proven track record of providing tailor-made financing solutions for its clients. In the Kingdom of Bahrain, Khaleeji has established itself firmly as an industry leader and this transaction is further evidence of the Bank’s market standing.”
Khaleeji Bank B.S.C. (Trading Code: KHALEEJI) has announced its Financial Results for the third quarter of 2024, reporting a net profit of BD 1.896 million attributable to the Bank’s Shareholders, compared to BD 2.454 million reported in the third quarter of 2023, which is a decrease of 22.74%. The Earnings per Share reached 1.75 Fils, compared to 3.07 Fils for the same period of the previous year. Total Comprehensive Income attributable to Shareholders of the parent for the third quarter of 2024 amounted to BD 3.420 million, compared to BD 0.923 million for the same period last year, with an increase of 270.53%. Total income for the third quarter of 2024 amounted to BD 11.568 million, compared to BD 11.324 million reported in the same period last year, with an increase of 2.15%.
The Bank has reported a Net Profit of BD 7.034 million attributable to the Bank’s Shareholders in the first nine months of 2024, compared to net profit of BD 9.405 million for the same period of the previous year, which is a decrease of 25.21%. Earnings per Share reached 7.08 Fils, compared to 8.00 Fils for the same period of the previous year. Total Comprehensive Income attributable to Shareholders of the parent for the first nine months of 2024 amounted to BD 8.258 million, compared to BD 6.659 million reported in the same period of the previous year, which is an increase of 24.01%. Total income for the first nine months of 2024 amounted to BD 36.144 million, compared to BD 36.424 million reported in the same period of the previous year, which is a decrease of 0.77%. The decrease is mainly attributable to the increase in financing expenses.
The Financial Results also showed a decrease in the Total Owners’ Equity by 20.03% reaching BD 125.88 million as of 30 September 2024, compared to BD 157.39 million in the end of the preceding year, as well as an increase in Total Assets by 3.42% reaching BD 1,553.79 million as of 30 September 2024, compared to BD 1,502.42 million in the end of the previous year. Total Deposits showed an increase by 9.97% reaching BD 1,163.34 million as of 30 September 2024, compared to BD 1,057.83 million in reported in 31 December 2023. The Financial Results also showed an increase of 1.17% in Total Investments in Sukuk reaching BD 528.89 million as of 30 September 2024, compared to BD 522.75 million reported in 31 December 2023. Additionally, the bank reported an increase in Financing Contracts by 24.08%, reaching a total of BD 680.31 million as of 30 September 2024, compared to BHD 548.29 million reported in 31 December 2023.
Commenting on the financial results, Mr Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, stated: “We are delighted to announce the positive financial results achieved by the bank during the first nine months of 2024. This performance reflects our commitment to sustaining our operations aimed at reinforcing our customers’ trust in our dedication to meeting their financial needs. The past period has witnessed several achievements that we are proud to highlight, particularly our continued expansion of partnerships aimed at providing exceptional financing solutions with real estate developers.”
Mr. Algoasibi continued: “We have launched the ‘Ajyal Account’ as part of our ongoing commitment to excellence in the banking products we offer to individuals. Furthermore, I would like to note that the bank has won two prestigious awards at the Bahrain Digital Content Awards, which underscores our leadership in digital transformation within the financial and banking services sector, as well as our commitment to enhancing the economic and social impact in our community through the adoption of responsible policies that foster innovation and ensure sustainability, especially in light of the significant changes occurring globally.”
The CEO added: “Our flexible strategy reflects our long-term vision, which focuses on identifying the most suitable opportunities in local and regional markets. In light of this, we have adapted our operational processes to meet our customers’ changing needs, enabling us to continue delivering innovative financial products that adhere to Islamic standards and enhance the banking experience for all our clients.”
The full financial results and press release are available on Bahrain Bourse website.