Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced that Mr. Mohammed Abdulla Al Yassi is the winner of the “Al Waffer” Account’s Grand Prize for the month of September, which amounts to a quarter million US Dollars. This marks the fourth Grand Prize awarded in the new edition of the “Al Waffer” Account, which this year has provided 44 unique prizes with a total value exceeding USD 3 million, showcasing Khaleeji’s commitment to continuously enhance the account and increase the value of prizes while launching numerous special features for clients.
Four Grand Prizes have been raffled So far this year. Now, for the first time ever in Bahrain, five Grand Prizes will be raffled in December with the largest prize being one million US Dollars and the other four prizes being a quarter million US Dollars each.
It is worth mentioning that the “Al Waffer” Account is a Shari’a-compliant investment account based on the principles of “Unrestricted Mudarabah”, where funds are invested accordingly. The account can be opened with a minimum amount of BD 50, and entry points for the prize raffles are calculated for every BD 25 in the account.
In this regard, Ms. Amira Ahmed Al Abbasi, Head of Retail Banking Services, said, “I would like to take this opportunity to congratulate Mr. Mohammed Abdullah Al Yasi on winning the Al Waffer Grand Prize for September worth a quarter of a million US dollars, which represents a distinctive turning point in his life to achieve his dreams.
She added: “I would like to take this opportunity to invite our dear clients to invest in the ‘Al Waffer’ Account and qualify for a chance to win the upcoming Grand Prizes, the most important of which is the December raffle which will feature five Grand Prizes all at once for the first time in the Kingdom of Bahrain. It is worth noting that the ‘Al Waffer’ Account will continue to reward its clients through the ‘Al Waffer Club’ raffles through five monthly prizes worth $10,000 for each winner during the months of October and November, before concluding with the biggest raffle of the year in December worth 2 million US Dollars in prizes, which includes a winner of this year’s biggest prize worth 1 million US Dollars and 4 winners each of whom will receive a quarter million US Dollars . We wish everyone the best of luck.”
The” Al Waffer” Account reflects Khaleeji’s commitment to providing a distinguished banking experience to its valued clients through valuable cash prizes and special benefits. “Al Waffer” is not just an investment account, but rather a platform that enables clients to achieve their goals and ambitions.
Khaleeji Bank has recently honoured its outstanding employees through the “STARS” Program, launched by the bank to recognize and highlight its distinguished staff for their accomplishments and contributions towards enhancing the services provided to its valued clients.
The event took place during a gathering held at the bank’s headquarters in the presence of Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, alongside a group of bank officials. The ceremony honoured Mr. Husain Yunis Salman from the Bahrain Financial Harbour branch, Ms. Reem Yaser Al Mandeel from the Compliance department, and Mr. Isa Abdulaziz Al Doseri from the Delivery Channels & Cards department, who each received the Outstanding Customer Service Award. The Outstanding Team Award was presented to Mr. Mohammed Mahdi Jamali, Mr. Talal Zaqman Al Sardeeh, Ms. Asma Ahmed Al Khayat and Mr. Abdullah Adel Al Balooshi from the Marketing & Corporate Communications department.
Ms. Hana Abdulrahman Al Banna from the VIP Banking department, along with Mr. Yusuf Ibrahim Ahmed and Ms. Fatima Hassan Alam Al Dar from the Corporate Banking & Debt Capital Markets department, and Mr. Mohammed Adel Al Ansari from the Sanad branch were awarded the Outstanding Assets Sales Award. Ms. Reema Hesham Khairallah and Mr. Hussain Ibrahim Maki from the Information Technology department received accolades for their Special Achievements.
In this regard, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, stated “We are proud of our talented employees’ achievements. Their hard work, innovation, and commitment to delivering exceptional customer service are the driving forces behind our ongoing success. These awards stand as a testament to their dedication and serve as a source of inspiration for the entire team.”
One her part, Ms. Fatima Ahmed Al Bin Ali, Head of Human Resources at Khaleeji Bank, added “Honouring these outstanding individuals reaffirms our commitment to fostering a culture of high performance and innovation, and such recognition enhances success through teamwork. We take great pride in having such employees on our team and look forward to a future filled with excellence and accomplishments alongside them.”
The “STARS” Program embodies the bank’s commitment to excellence and the promotion of a culture of motivation and innovation, aligning with the bank’s firm belief that recognizing exceptional employees encourages everyone to achieve even greater accomplishments.
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 new set of exclusive financing offers for those looking to own residential units in the “Jawharat Al Marjan” project, developed by Durrat Al Bahrain. This initiative supports the Memorandum of Understanding signed between the two parties last June, aimed at providing easy and accessible financing solutions to clients.
The “Jawharat Al Marjan” project is the fourth phase of the modern residential development in Durrat Al Bahrain, featuring 200 luxurious villas overlooking the captivating waters of the Arabian Gulf. These new villas represent the latest achievements in the project, combining unique designs with advanced amenities to provide an exceptional living experience for families. Khaleeji’s offer includes innovative Islamic Financing that allows clients to benefit from competitive profit rates and a financing tenor of up to 30 years.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “We are pleased to present these new offers to empower our clients to achieve their ownership ambitions in the leading ‘Jawharat Al Marjan’ project. Khaleeji’s financing solutions provide clients with a unique opportunity to benefit from exclusive benefits, including a financing structure that is in line with the project’s nature and supports off-plan purchases, all in full compliance with the principles of Islamic Shari’a with competitive profit rates and a flexible financing tenor of up to 30 years.”
She continued “Through these offers, we aim to simplify the financing process for our valued clients by introducing innovative solutions and an exceptional service that’s tailored to their unique needs. This is part of our ongoing commitment to provide a supportive environment that encourages our clients to invest in their dream homes, along with our steadfast dedication to offering innovative banking products & solutions that instil confidence in their decision-making.”
Ms. Al Abbasi also encouraged clients seeking more information or looking to submit their applications to contact the bank’s customer service team, which is readily available to provide all details related to financing and the offers available according to each client’s specific needs.
On his part, Engineer Moaath Al Hasan, Executive Manager of Operations at Durrat Al Bahrain, said “We are pleased to announce these exceptional financing offers in collaboration with Khaleeji Bank, as this step reinforces our commitment to sustainable and distinguished real estate development in the Kingdom of Bahrain. The ‘Jawharat Al Marjan’ project represents a new and innovative phase in the world of luxury housing, and we strive to provide customers with the opportunity to realise their dream of ownership through these innovative offers.”
He added “We are confident that these luxurious villas, with their modern designs and prime location, will provide an exceptional living experience for families, and we believe that Khaleeji Bank’s financing offers will contribute to enhancing the quality of life in our communities and strengthening the exclusive experience we provide in our projects.”
The announcement of these exclusive offers comes as part of Khaleeji’s solid commitment to providing banking solutions that align with Islamic Shari’a and its constant endeavour to meet client needs by offering high-quality financial products & services that fulfil their ambitions and aspirations.
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 that its innovative digital banking platform and mobile application “Hafeez” has been awarded the title of “Top Corporate Banking App in the GCC for 2024” by the esteemed International Business Magazine “IBM”. This accolade emphasizes Khaleeji’s dedication to delivering cutting-edge and user-friendly digital banking solutions for its corporate clientele.
The IBM Awards recognise excellence across various sectors globally, and the “Top Corporate Banking App in the GCC for 2024” award highlights the exceptional features and unparalleled user experience that “Hafeez” offers.
“Hafeez” is a comprehensive digital platform & mobile application tailored for banking services and designed to streamline corporate banking operations. It encompasses a wide array of features, including account management, transaction processing, and payment solutions among others. Its user-friendly interface combined with robust security measures positions it as an ideal choice for Khaleeji’s corporate clients.
Additionally, the platform offers distinctive features, particularly ease of registration for entrepreneurs and corporations, whether they are sole owners or part of multi-partner ventures. It also includes various options for electronic money transfers, encompassing local and international transactions as well as bulk payments. Furthermore, it facilitates seamless monthly salary transfers along with a pre-loading service linked to the Wage Protection System.
On this occasion, Mr. Ahmed Mohamed Burashid, Head of Corporate Banking & Debt Capital Markets, expressed his pride in receiving this award, viewing it as a testament to the bank’s continuous commitment to advancing innovative technologies that enhance the banking experience for corporate clients, commenting “The ‘Hafeez’ application exemplifies our devotion to digital transformation by providing advanced and user-friendly financial solutions that leverage cutting-edge technologies.”
Mr. Burashid highlighted Khaleeji’s crucial role in spearheading digital transformation within the banking sector of the Kingdom of Bahrain. He also noted the bank’s success in enhancing the banking experience for both individual and corporate clients through the provision of advanced solutions that effectively address their needs. “We will persist in our journey of continuously developing and supporting financial technology and digital innovation, while adhering to the highest quality standards,” Mr. Burashid added.
On his part, Mr. Osama Ali Nasr, Chief Technology Officer at Khaleeji Bank, commended the “Hafeez” application for receiving the award for the Top Corporate Banking App in the GCC for 2024, asserting that this achievement reflects the technical excellence that Khaleeji consistently maintains and develops.
In this context, he said “The ‘Hafeez’ online platform and mobile application was meticulously designed using the latest advancements in artificial intelligence, ensuring a smooth and highly efficient banking experience for our corporate clients. This prestigious award reinforces our commitment to providing innovative technological solutions that solidify our leading position in the digital banking sector, both in the Kingdom of Bahrain and across the region.”
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 the signing of a Memorandum of Understanding “MoU” with Al Areen Holding Company, a prominent player in the real estate industry, aimed at forming a strategic partnership to enhance and facilitate real estate financing for the company’s projects.
This partnership aims to provide innovative financial solutions to meet the needs of clients interested in owning residential units in the “Tilal” Residential Project within Al Areen’s masterplan. The bank will offer financing solutions that include competitive profit rates and financing amounts of up to 100% of the property value, along with a flexible grace period.
The signing ceremony took place at Khaleeji’s headquarters in the GFH Tower, in the presence of Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, and Mr. Ahmed Khalfan, Chief Marketing & Sales Officer of Al Areen Holding and CEO of “Tilal” Residential Project, along with several managers and officials from both parties.
On this occasion, Ms. Ameera Ahmed Al Abbasi expressed her gratification in this collaboration, stating “This strategic partnership with Al Areen Holding Company embodies our firm commitment to supporting the growth of the real estate sector in the Kingdom of Bahrain. At Khaleeji, we always strive to provide innovative financing offers that meet our clients’ needs and ambitions, thereby enhancing their experience in the real estate market. Through this partnership, we will ensure the provision of a comprehensive range of financing solutions, including competitive profit rates and a flexible grace period, to facilitate the ownership process for our clients.”
She added “The ‘Tilal’ Residential Project exemplifies quality and modern design, providing an ideal living and investment environment. We are also committed to providing a satisfying and personalized banking experience for every client. We hope that our clients will take advantage of these outstanding opportunities made through this initiative, which reflects our values of innovation and sustainable support for economic growth. We are pleased to invite clients interested in owning units in this leading housing project to visit the promotional stand between 19th – 29th September at City Center Bahrain, to learn about the financing solutions available under this agreement.”
On her part, Dr. Ahlam Zainal, CEO of Al Areen Holding Company, stated: “We are pleased to announce our cooperation with Khaleeji Bank to provide a range of financing options that enable our customers to own a home in the Tilal project, the third residential development within the Al Areen masterplan. This project will serve as an exceptional tourist and residential destination, thanks to its distinguished components and services setting new standards in urban living.”
She added: “At Al Areen Holding Company, we are committed to offering our customers the best services and experiences. Our partnership with Khaleeji Bank reflects our keenness to meet our customers’ aspirations and exceeding their expectations. We pride ourselves on delivering a seamless and personalised experience, from home selection and ownership to building long-term relationships.”
Mr. Ahmed Khalfan, Chief Marketing and Sales Officer of Al Areen Holding and CEO of Tilal Residential Project, commented: “This partnership allows us to provide added value to our customers by simplifying the steps required to obtain their desired residential units, making it a more seamless process. The Tilal Residential Project is a pioneering initiative that underscores our commitment to high standards of quality and innovation in the real estate sector. We believe this agreement will enhance our ability to meet market demands and attract customers seeking their dream homes, especially within the Tilal Residential Project, which presents a unique array of options, including luxury villas and townhouses designed according to the highest international standards, with sizes ranging from 3 to 5 bedrooms, each featuring modern designs aligned with contemporary trends.”
He added: “On this occasion, I extend a special invitation to those interested in our offerings for owning a villa or townhouse in Tilal Residential Project to visit our stand at the City Centre Bahrain (near Debenhams) from September 19 to 29, where they can learn more about the project and book the most suitable options in the masterplan.”
It is noteworthy that “Tilal” Residential Project offers a unique living experience amidst sustainable surroundings, featuring vast green spaces and picturesque views of the Al Areen Wildlife Park. Covering an area of 93,600 square meters, the project includes luxury villas and townhouses designed to meet the needs of Bahraini and GCC families, allowing for customisation options. Units are available with the option of 3, 4, and 5 bedrooms, each incorporating modern designs in line with contemporary trends.
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.
Visit Khaleeji Bank’s website at www.khaleeji.bank and follow the bank’s verified social media accounts on Instagram, Facebook, LinkedIn, YouTube, and X platforms to stay updated on the latest news and offers.
Al Areen Holding is a leading real estate development company in Bahrain, dedicated to creating exceptional residential, commercial and hospitality projects. With a commitment to quality, innovation and sustainability, Al Areen Holding strives to exceed customer expectations and contribute to the economic growth of the Kingdom of Bahrain. The company’s diverse portfolio showcases its expertise and vision for the future of Bahrain’s real estate sector.
Terms & Conditions apply.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has collaborated with “Lame’a” to organise an interactive field visit attended by 10 children aged between 12 and 14 years old from the “Lame’a” Junior Program, who are participating in the Youth City 2030 event. During the visit, participants were introduced to the various areas of the bank’s operations, its departments, and the range of banking services it offers. Additionally, a tour was organised to Khaleeji’s branch in Bahrain Financial Harbour.
The visit reflects Khaleeji’s unwavering commitment to supporting the youth of the future by engaging them in various initiatives tailored to introduce them to the banking sector and encourage them to join it. This activity stems from the bank’s recognition of the significance of investing in the youth, viewing them as the cornerstone of sustainable development and the driving force behind progress in society. They are seen as essential to the transition towards a knowledge-based economy, the realisation of national visions, and the foundation of a better tomorrow. Additionally, Khaleeji is dedicated to providing the necessary support and empowerment to enhance the capabilities of young individuals and unlock their potential through specialised programs and initiatives aimed at skill development, creativity, and active contribution to their communities and nations.
The “Lame’a” initiative is one of the projects patronised by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs. This Program seeks to cultivate promising youth leaders and establish a robust foundation of competencies equipped with integrated national awareness, qualifying them to excel in various roles and disciplines. It has been developed through innovative methods designed to nurture national youth leaders who exhibit ambition and extraordinary capabilities, challenging them to explore their potential through national youth projects.
Commenting on the occasion, Ms. Fatima Ahmed Al Bin Ali, Head of Human Resources at Khaleeji Bank, said “We take pride in collaborating with ‘Lame’a’ to implement this field visit, which provided participants with the opportunity to closely learn about the various aspects of the bank’s operations. There was exceptional engagement from the participating children, who were enthusiastic about learning the different roles within Khaleej and how it operates. These initiatives are part of our ongoing commitment to harnessing the energies and talents of young individuals, and we are confident that they will emerge as leaders across a wide variety of fields, playing pivotal roles in fostering a brighter future for our communities.”
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 its participation in the 13th edition of Youth City 2030, held under the esteemed patronage of His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Affairs and Youth Affairs, and Chairman of the Supreme Council for Youth and Sports. The event took place at the Exhibition World Bahrain.
This event served as the perfect platform for Khaleeji to engage with young individuals and introduce its latest innovative savings solution: The “Ajyal” Account. Tailored specifically for minors under the age of 21, the account aims to cultivate good financial habits and enhance the culture of saving and financial literacy among the youth, in an initiative that reflects the bank’s commitment to fostering the next generation’s financial well-being by enabling them to access essential financial tools.
The “Ajyal” Account comprises two distinct options: The “Ajyal Saving Account” and the “Ajyal Deposit Account”. The “Ajyal Saving Account” encourages regular deposits and offers a competitive Expected Profit Rate of up to 3.025% depending on their deposit and expenditure behaviour. This rate is achievable by young clients through a unique incentive structure where, with every monthly deposit of BD 10 or more and up to five ATM withdrawals monthly, clients could maximise their profit potential.
Conversely, the “Ajyal Deposit Account” is based on the principles of Absolute Mudharaba and provides a tenure of 12 months with an Expected Profit Rate of up to 5%, starting from a minimum deposit of BD 100. Parents of minors under 15 years can open accounts on their children’s behalf, while young individuals aged 16 to 21 could independently establish their accounts through the “Khaleeji App”, at Khaleeji’s booth during the event, or at any of the bank’s branches.
Attendees young and old at Youth City 2030 were encouraged to visit Khaleeji’s booth to learn more about the features and benefits of the “Ajyal” Account. This initiative aligns with the bank’s commitment to nurturing financial literacy and empowering young individuals through secure and advantageous financial products.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, commented “We are delighted to participate in the Youth City 2030 event, as this step supports the efforts made by the Ministry of Youth Affairs and the relevant authorities by contributing to the achievement of their goals of empowering the youth, discovering their talents, enabling them to excel, and making them the first choice in the labour market.”
She added “This activity provides an opportunity to introduce the ‘Ajyal’ Account to the attendees, reflecting our solid commitment to our young clients, where this product contributes to fostering financial literacy and empowering them to adopt sound financial practices from an early age. At Khaleeji, we are committed to continuously developing products that align with the ambitions and aspirations of our clients. We are constantly working to provide them with the necessary tools to conduct financial and investment transactions with ease and security. And with features like the competitive Expected Profit Rate and flexible deposit options, we aim to provide innovative solutions that align with Islamic Shari’a Principles, while meeting the diverse financial needs of our youth today.”
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 (Trading Code: KHALEEJI) has announced its financial results for the second quarter of 2024, reporting a Net Profit attributable to the Bank’s Shareholders of BD 2.130 million, compared to BD 3.199 million for the same period of the previous year, with a decrease of 33.42%, while Earnings per Share have increased to 2.24 Fils compared to 0.25 Fils for the same period last year. Total Comprehensive Income attributable to Owners of the Parent Company for the second quarter of 2024 amounted to BD 1.913 million, compared to BD 2.656 million in the same period of the previous year, representing a decrease of 27.97%. Total Income for the second quarter of 2024 amounted to BD 11.674 million, compared to BD 11.978 million in the same period of the previous year, representing a decrease of 2.54%. The decrease is mainly attributable to the increase in financing expenses.
As for the biannual financial results for the period ended 30th June 2024, Khaleeji Bank reported a Net Profit attributable to Shareholders of BD 5.138 million, compared to BD 6.951 in the same period last year, with a decrease of 26.08%, while Earnings per Share for the period ended 30th June 2024 have increased to 5.41 Fils compared to 4.94 Fils for the same period of the previous year. Total Comprehensive Income attributable to Owners of the Parent Company for the first half of 2024 amounted to BD 4.838 million, compared to BD 5.736 million reported in the same period last year, representing a decrease of 15.66%. Total Income for the first half of 2024 amounted to BD 24.576 million, compared to BD 25.100 million reported in the same period last year, representing a decrease of 2.09%.
The financial results also showed a decrease in Total Owners’ Equity for the period ended 30th June 2024 by 22.20%, reaching BD 122.46 million, compared to BD 157.39 million reported on 31st December 2023. This is in addition to a decrease in Total Assets for the period ended 30th June 2024 by 0.79%, reaching BD 1,490.61 million, compared to BD 1,502.42 million reported on 31st December 2023, in addition to an increase in Total Deposits by 5.03%, reaching BD 1,111.05 million, compared to BD 1,057.83 million reported on 31st December 2023. The bank’s financial results also witnessed an increase in Sukuk Investments by 2.21%, reaching BD 534.29 million, in comparison with BD 522.75 million reported on 31st December 2023. The bank also reported an increase in Financing Contracts by 9.52%, reaching BD 600.46 million, compared to BD 548.29 million reported on 31st December 2023.
Commenting on the financial results, Mr. Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, stressed that the bank is moving in the right direction despite all surrounding circumstances, stating “We are pleased to announce these results, which demonstrate Khaleeji’s ability to adapt and evolve in response to changing market conditions. We are committed to facing the current market challenges that have been significantly affected by the geopolitical conditions influencing both the region and the world.”
Mr. Algosaibi highlighted the bank’s ongoing initiatives to leverage its achievements through a strategic plan designed to attain further successes in the upcoming period. Elaborating further, he said “During the first half of the year, we were able to build a strong foundation for long-term success, thanks to our unwavering commitment to strategic growth and client-centric focus. The bank is keen to move forward by continuing to prioritise innovation, flexibility, and driving growth through a deep understanding of our clients’ needs as well as a passion for providing exceptional services, as we aim to consolidate Khaleeji’s position as a beacon for excellence in the Islamic Banking sector.”
He added “As we move forward with our ambitious vision in the second half of the year, we will continue to invest in digital solutions with a sustained focus on delivering exceptional experiences that foster trust and loyalty. I would also like to express gratitude and appreciation to our valued shareholders and clients for their continued support and confidence in our vision.”
The full financial results and press release are available on Bahrain Bourse’s website www.bahrainbourse.com.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced the launch of the “Ajyal” Account, an innovative savings solution designed specifically for minors aged 0 – 21 years old. This innovative account aims to instill good financial habits and enhance the culture of saving and Financial Literacy among younger generations.
With the “Ajyal” Account, children can learn the importance of saving and develop essential money management skills from an early age. The account comes in two varieties: “Ajyal” Saving Account, which allows for deposits and withdrawals with added privileges in the form of an Expected Profit Rate of up to 3.025% depending on their deposit and expenditure behaviour. The “Ajyal” Depositors Account, which is a fixed deposit account based on the principles of Absolute Mudharaba, offering a 12-month Tenor and an Expected Profit Rate of up to 5%, starting from a Minimum Deposit of BD 100.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “We are delighted to introduce the “Ajyal” Saving Account and Depositors Account to our young clients, as it provides innovative solutions that enable them to find seamless ways to perform financial and investment transactions, in compliance with the principles of Islamic Shari’a.”
She continued “Through the “Ajyal” Saving Account, we aim to enhance the culture of saving and Financial Literacy for this age group. The account provides them with an Expected Profit Rate of up to 2.5% for every monthly deposit of BD +10, and an additional 0.5% when making five withdrawals per month using an ATM Card, which means a total Expected Profit Rate of up to 3.025%.”
She further added “The “Ajyal” Depositors Account starts from only BD 100, with the possibility of unlimited additional deposits for the Tenor’s duration of one year, with an expected competitive Profit Rate of 5%. The “Ajyal” Account is now available for opening through the “Khaleeji App” or by visiting any of the bank’s branches. For parents of minors below the age of 15 years old, they can open an account on behalf of their child. Minors aged 16 – 21 can individually open a new account.”
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 that it has won two prestigious awards at the Bahrain Digital Content (BDC) Awards for the year 2023. The bank’s innovative “Khaleeji App” won in the Financial Technology (Fintech) category, while also being recognized for its Diamond Sponsorship of GITEX Global 2023, the largest technology conference and exhibition in the Middle East.
The ceremony was held under the patronage and in the presence of His Excellency Mr. Ali bin Saleh Al Saleh, Chairman of the Shura Council, at the Gulf Convention Center which witnessed wide participation from leaders and innovators in the field of digital innovation and entrepreneurship from various sectors. The event was organized by the Bahrain Technology Companies Society (BTECH) along with a group of sponsors and organizers.
By harnessing the latest technologies, the “Khaleeji App” has been designed to provide clients with a comprehensive and seamless banking experience, enabling them to perform a wide range of transactions and procedures through their mobile devices. The application also provides users with access to a set of advanced features that allows them to manage their financial affairs in an easy, accurate and safe manner.
Additionally, the application also enables clients to enjoy several banking services that previously required visiting branches to obtain, while adhering to the highest international standards in terms of security and safety, reflecting Khaleeji’s solid commitment to innovation and meeting clients’ aspirations in our digital age.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “We are delighted to win these prestigious awards, especially in recognition of our “Khaleeji App”, which are a testament to our dedication to innovation and excellence. At Khaleeji, we are keen to leveraging technology to enhance our customer experience and maintain the bank’s position at the forefront of the banking scene, which is witnessing rapid and steady development.”
She added “I would like to extend my sincerest gratitude and appreciation to the Bahrain Digital Content Awards organizers for their efforts in recognizing and celebrating innovation in this vital field. The receipt of these awards is a reflection to our ongoing commitment to improvement and innovation, and we look forward to continuing to deliver cutting-edge solutions and innovations in the field of digital banking and financial technology.”
On his part, Mr. Osama Ali Hassan, Chief Technology Officer at Khaleeji Bank, commented “We are proud of the significant achievements accomplished by the “Khaleeji App”, which has been designed to deliver a seamless and secure banking experience to our clients. Khaleeji remains committed to investing in the development of its digital capabilities, ensuring that clients have access to the latest and most secure technologies in the banking sector. The “Khaleeji App” exemplifies this commitment, leveraging the most advanced encryption and authentication protocols to safeguard client data and transactions, while its modern design offers a seamless and user-friendly experience.”
Khaleeji Bank 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.
Visit Khaleeji Bank’s website at www.khaleeji.bank and follow the bank’s verified social media accounts on Instagram, Facebook, LinkedIn, YouTube, and X platforms to stay updated on the latest news and offers.