Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the launch of a prize campaign for “Al Waffer” Account holders in celebration of the holy month of Ramadan. The campaign features daily raffles for BD 1,000 each, culminating in a total of BD 30,000 awarded to thirty winners throughout the month. This initiative reflects Khaleeji’s commitment to providing added value to its clients and enhancing their banking experience during Ramadan this year.
On this occasion, Ms. Ameera Al Abbasi, Head of Retail Banking, stated “We are pleased to extend our warmest congratulations to the leadership, government, and people of the Kingdom of Bahrain, as well as to all our partners, shareholders, and valued clients, on the occasion of Ramadan, praying to Allah the Almighty to accept your fasting and prayers. Through this innovative campaign, which is the first of its kind, we aim to foster the spirit of giving and sharing during this month of goodness.”
Commenting on the campaign, she added “The campaign includes special daily raffles that provide clients with wonderful opportunities to win, with a cash prize of BD 1,000 for one winner every day. The winner’s name will be announced on Bahrain TV just before the call to Maghrib Prayer. Additionally, participants will be able to enter the regular ‘Al Waffer’ Account prize raffles announced previously. Therefore, we invite all clients to seize this opportunity and participate to be among the winners.”
It is noteworthy that Khaleeji has allocated 11 Grand Prizes for “Al Waffer” Account holders this year with a total value of 4 million US Dollars, including 10 Grand Prizes worth USD 250,000 and a Grand Prize worth one million US Dollars. As part of its effort to reward distinguished clients under the “Al Waffer Club” program, Khaleeji has allocated 30 additional Cash Prizes worth USD 10,000 each, with five winners to be raffled in each of the months of February, April, May, July, September, and November. Also, for the first time since the launch of the “Al Waffer” Account, this year’s program includes prizes dedicated to young clients in the “Ajyal Al Waffer” category, where 60 Cash Prizes worth USD 1,000 each have been allocated, with a special raffle for 15 prizes in March and a monthly raffle for 5 prizes in the following months.
Khaleeji Bank B.S.C has achieved Net Profit Attributable to the Shareholders worth BD 3.469 million in the final quarter of 2024, compared to a loss of BD 402,000 for the same period in 2023, an increase of 963.29%.
Earnings per Share reached 3.20 Fils during the final quarter of 2024, compared to -4.25 Fils during the last quarter of 2023. The Total Comprehensive Income Attributable to Owners of the Parent Company for the final quarter of 2024 amounted to BD 3.594 million compared to BD 1.013 million recorded for the same period last year, an increase of 254.79%. Total Income amounted to BD 13.816 million during the final quarter of 2024, compared to BD 10.692 million for the same period in 2023, an increase of 29.22%.
The financial results also indicated that Khaleeji has achieved a Net Profit Attributable to the Bank’s Shareholders amounting to BD 10.503 million for the fiscal year ended 31st December 2024, compared to BD 9.003 million for the fiscal year ended 31st December 2023, an increase of 16.66%. In this context, Khaleeji’s Board of Directors have recommended distributing Dividends to shareholders after the results of the fiscal year ending 31st December 2024 on all ordinary shares, excluding treasury shares, at a rate of 5% of the nominal value of the share, equivalent to 5 Fils per share, totalling BD 5,414,264.
Earnings per share amounted to 10.330 Fils compared to 3.753 Fils in 2023. The Total Comprehensive Income Attributable to Shareholders of the Parent Company during 2024 amounted to BD 11.852 million, compared to BD 7.672 million in 2023, an increase of 54.48%. Khaleeji has reported an increase in Total Income reaching BD 49.960 million during 2024 compared to BD 47.116 million in 2023, an increase of 6.04%. This increase is mainly attributed to a rise in financing contract revenues as well as revenue from deposits with financial institutions.
Equity Attributable to Shareholders of the Parent Company reached BD 128.65 million in 2024 compared to BD 157.39 million in 2023, a decrease of 18.26%.
On the other hand, the bank’s Total Assets has decreased slightly by 0.42% to reach BD 1,496.13 million compared to BD 1,502.42 million at the end of 2023, while Sukuk Investments have decreased to reach BD 502.14 million in 2024 compared to BD 522.75 million in 2023, a decrease of 3.94%. The financial results also recorded an increase in Total Deposits by 4.11% reaching BD 1,101.35 million compared to BD 1,057.83 million at the end of 2023.
Commenting on the financial results, Mr. Hisham Ahmed Alrayes, Chairman of Khaleeji Bank, has stated “The positive financial results achieved by the bank in 2024 reflect our firm commitment to promoting sustainable growth and adding value to our shareholders. We believe that our effective strategies and advanced approaches to flexible risk management have contributed to strengthening the bank’s financial position, achieving a strong performance despite the challenges markets are facing today. The increase in revenues and net profit also embodies the quality of our financial services and excellence in providing integrated banking solutions to our clients, which makes us more optimistic about the future. In this context, the Board of Directors has submitted a recommendation to shareholders to distribute profits, subject to the approval of the bank’s shareholders at the next General Assembly Meeting.”
Mr. Alrayes added “We anticipate 2025 with more positivity, as we intend to enhance our plans and explore new opportunities for growth. We will continue to invest in innovation and enhancing our customer experience, with a focus on developing strategic partnerships, raising the level of diverse banking services, and expanding technological innovation. We are fully confident that this approach will consolidate our position in the market, leading to better financial results in the future, which will benefit all shareholders.”
For his part, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, has stated “We are pleased to announce these positive results which embody the wise vision of the Board of Directors, reflecting the dedicated efforts of the team in implementing the bank’s plans and strategies. We understand that ‘innovation’ is the key word that distinguishes us in the banking sector, as we have worked to develop our services in line with client aspirations and the requirements of the digital age.”
Mr. Algosaibi continued “We launched several initiatives with the aim of meeting the needs of companies and individuals in an accelerated and effective manner. This step embodies a comprehensive vision that improves the financial performance of our corporate clients, reflecting our clear strategy of investing in technology and digitising our services. This strategy is based on strengthening the relationship with our clients by providing flexible and integrated banking solutions. We have also worked on developing the ‘Al Waffer’ Account and expanding its prizes by a larger margin, which reflects our constant keenness to encourage a culture of saving. We look forward to further improving our customer experience by providing additional benefits and services specifically designed to meet their needs and ambitions.”
Mr. Algosaibi also added “Our role at Khaleeji is not limited to meeting the needs of clients; we also seek to fulfil our social responsibilities, as we are committed to positively interacting with the community through a range of initiatives that support education and sports, while also enhancing environmental sustainability. Through our active participation in local events and community programs, we emphasise our role as partners in community development, and we continuously work to achieve a positive impact that reflects on all stakeholders. Promoting these social values is an integral part of the bank’s identity and falls in line with our future strategies to achieve sustainable growth, reflecting our commitment to making a positive impact in the communities within which we operate. We are confident in our ability to progress and develop in order to achieve the highest levels of success and excellence. We hold an optimistic outlook and seek to spread the culture of innovation and leadership in all areas of our work, which enhances our chances of scoring new and impactful achievements.”
Notable Achievements of 2024:
Khaleeji Bank had remarkable achievements in the fields of banking innovation and customer service during the year 2024, reflecting its commitment to meeting the changing needs of clients and enhancing its leadership in the banking sector. Among the most prominent of these achievements was the launch of the “Hafeez” platform, an innovative digital banking platform designed to meet the needs of companies, which was updated by adding new services that facilitate procedures and enhance efficiency. The application won the “Top Corporate Banking App GCC 2024” award from the prestigious International Business Magazine, which embodies the bank’s commitment to providing modern banking solutions that suit a wide segment of clients from retail to corporate.
Khaleeji has continued to develop the “Al Waffer” Account by announcing 9 Grand Prizes and 35 monthly cash prizes with a total value exceeding USD 3 million, of which USD 2 million were raffled for five depositors last December. The bank has also launched promotional stands in shopping malls, which included interactive activities with the public to introduce the advantages of the “Al Waffer” Account and the bank’s credit cards, in addition to instant cash prizes, contributing to enhancing awareness of its banking offers.
In its relentless pursuit to complete this success, Khaleeji has concluded several strategic partnerships, including cooperation with “Opportunity Network” to provide global business opportunities to its clients, in addition to partnering with several companies, including Arcapita Group Holding to obtain financing facilities worth USD 50 million, in addition to Al Areen Holding Company and Durrat Al Bahrain to provide flexible and distinctive financing solutions to its clients.
On the technical level, Khaleeji has launched its enhanced open banking services, which allow clients to manage accounts from multiple banks through a single platform, providing them with great flexibility. On a related note, the bank has obtained the ISO 22301:2019 certificate for Business Continuity Management, demonstrating its commitment to the highest international quality standards in the sector.
Last year, Khaleeji has won the “Best Rebranded Bank Bahrain 2024” award from the prestigious International Business Magazine, in addition to other awards at the Bahrain Digital Content Awards 2023, besides being included among the Top 50 Most Powerful Bahraini Companies list. All these achievements show the bank’s transformation into an integrated hub for innovation and financial services, as part of its continuous efforts to enhance its customer experience and adapt to rapid changes in the market.
Social Responsibility:
Khaleeji has also strengthened its commitment to social responsibility during the past year through various activities, as it has sponsored the Nasser bin Hamad Football Championship for schools in cooperation with the Ministry of Education. The bank has also participated in the National Tree Planting Initiative with the Southern Municipality to enhance green spaces. Additionally, Khaleeji has participated in the Ring the Bell for Gender Equality 2024 campaign in cooperation with Bahrain Bourse, reflecting its support for the principle of equal opportunities. In addition, the bank has organised a field trip for young participants of the “Lame’a Junior” Program at Youth City 2030 to introduce them to banking. Lastly, Khaleeji has provided support to families affected by the fire incident at Al Lawzi by providing them with residential apartments. As a result of these efforts, Khaleeji Bank has received the Al Bilad Shield for Corporate Social Responsibility 2024 in honour of its prominent role in promoting economic excellence.
The press release and the full audited financial statements are available on Bahrain Bourse website on www.bahrainbourse.com.
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced the launch of the “Al Waffer” Account’s 2025 edition, featuring remarkable cash prizes that exceed a total value of $4 million, making this edition the largest and most distinctive since the account’s inception.
Clients will have the opportunity to win one of 11 Grand Prizes, including a prize worth $1 million, which will be raffled in December. Raffles for prizes worth $250,000 each will take place in March, June, August, October, and December. This year, the account’s schedule commences powerfully with three grand prizes worth $250,000 to be raffled in March. Additionally, it will conclude with a special raffle for the $1 million prize and four other prizes worth $250,000 each in December, along with several other surprises throughout the year.
As part of rewarding distinguished members of the “Al Waffer Club” program, Khaleeji has allocated 30 additional cash prizes worth $10,000 each, with raffles for five winners taking place in February, April, May, July, September, and November.
For the first time since the launch of the account, this year’s program includes prizes allocated specifically for young clients through the “Ajyal Al Waffer”. A total of 60 prizes worth $1,000 each have been allocated, with a special raffle for 15 prizes to take place in March and monthly raffles for five prizes for the remaining months.
Commenting on the new edition of “Al Waffer”, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “We are delighted to announce the launch of the 2025 edition of the ‘Al Waffer’ Account, which is not just a savings program, but also a genuine opportunity to transform our clients’’ lives. Through prizes exceeding a total value of $4 million, we aim to support a culture of saving and encourage our clients to invest. To that end, this year will also see the launch of the ‘Ajyal Al Waffer’ Account, targeting children and youths under the age of 21, representing the bank’s commitment to playing an active role in enhancing Financial Literacy, particularly among young people, and providing young depositors with the chance to enter exclusive raffles for cash prizes.”
Al Abbasi added “We are delighted to invite all our valued clients to participate in the new edition of the ‘Al Waffer’ Account for the year 2025, which presents an exceptional opportunity to win significant cash prizes, enabling them to realize their ambitions. We also encourage everyone to join the exclusive ‘Al Waffer Club’, which offers unique opportunities to win one of the 30 cash prizes of $10,000 each, raffled at various times throughout the year. We are always striving to enhance our offerings to meet our clients’ aspirations, as we serve as their partner in ambition. We wish all depositors the best of luck.”
It is worth noting that “Al Waffer” Account is a savings account compliant with the provisions & principles of Islamic Shari’a, where funds are invested on the principles of Unrestricted Mudarabah. The account can be opened with a minimum deposit of BHD 50, and points are calculated for every BHD 25 in the account. Clients can increase their chances of winning by benefiting from the Double Points System, which requires account holders to maintain or increase their balance without making withdrawals for more than 90 days prior to the raffle’s date.
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.