Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, held its Annual General Meeting (AGM) on Monday (25th March 2024), with a quorum of 90.87%.
The meeting was chaired by Mr. Hisham Ahmed Al Rayes, Board Chairman, in the presence of Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer, several members of the Executive Management Team, and with the participation of shareholders, representatives of the Shariah Supervisory Board (SSB), external auditors and regulatory authorities.
The AGM commenced with the approval of minutes from the previous meeting held on March 22, 2023. The Board of Directors’ report on the Bank’s business activities for the financial year ended 31st December 2023 was reviewed and approved. Additionally, reports from the SSB and external auditor were presented, and financial statements for the year ending 31st December 2023 were deliberated and approved.
The attendees approved the Board of Directors’ recommendations to transfer BD 900,316 to the statutory reserve, allocate BD 768,429 for the Zakat Fund, and transfer BD 7,334,418 to retained earnings. Additionally, attendees approved the proposal of distributing Board Remuneration of BD 143,000 for the financial year ended 31st December 2023, subject to obtaining the required regulatory approvals.
The meeting authorized, ratified and approved any related party transaction which was conducted during the financial year ended 31st December 2023. The meeting also discussed and approved the Corporate Governance Report for the year ended 31st December 2023, and Bank’s compliance with the requirements of Central Bank of Bahrain (CBB).
Moreover, Board members were discharged of any liability in lieu of their actions for the year ended 31st December 2023, while the attendees approved the appointment or reappointment of external auditors for the year 2024 and authorized the Board to fix their remuneration, subject to obtaining the CBB’s approval.
In addition, the AGM also approved the proposed amendments to the remuneration framework of the bank, in terms of variable remuneration policy and share incentive scheme, and authorized the Board to make the necessary amendments to it from time to time, as necessary, subject to the CBB’s approval.
Furthermore, the AGM concluded its proceedings by approving the appointment of 7 members representing major shareholders in accordance with the provisions of Article 175 of the Bahraini Commercial Companies Law of 2001 and the Bank’s Articles of Association. This approval is subject to receiving the Central Bank of Bahrain’s consent. The appointed members are as follows:
- Mr. Hisham Ahmed Al Rayes
- Mr. Ali Murad Ali Murad
- Mr. Yusuf Abdullah Taqi
- His Excellency Mr. Ayman Tawfiq Almoayed
- Mr. Mazen Ibrahim Abdulkareem
- Dr. Hisham Abdulrahman Al Bin Ali
- Shaikh Fahad bin Ibrahim Al Khalifa
Additionally, the following individuals were endorsed as independent members of the Board of Directors for the upcoming three-year term:
- Shaikh Ahmed bin Isa Al Khalifa
- Mr. Riyadh Eid Al Ya’qoub
- Shaikh Isa bin Khalid Al Khalifa.
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.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced a new strategic partnership with Eskan Bank to provide Shari’a-compliant Home Financing solutions to citizens.
As part of the new partnership, Khaleeji will be working to finalise all available financing options with Eskan Bank, reflecting its strong commitment to providing the best financial solutions that meet the needs and aspirations of its clients.
Under this agreement, Khaleeji and Eskan Bank will collaborate in the “Joint Guarantee” Program to offer financing services to their clients. This partnership includes jointly financing citizens, with both banks guaranteeing the same property based on their respective shares in it. This will pave the way for Khaleeji clients to benefit from its financing services in addition to Home Financing services provided by Eskan Bank they are or already eligible for, expanding both their capabilities and Home Financing options & solutions within the framework of Islamic Shari’a principles.
This cooperation embodies Khaleeji’s objectives of providing a diverse range of banking products & services that meet all the needs and aspirations of its clients. Through this collaboration with Eskan Bank, all shared goals of promoting economic growth and driving sustainable development will be achieved.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji, has emphasised the importance of this partnership with Eskan Bank, stating “We are delighted to announce this collaboration with Eskan Bank, which reflects our commitment to providing integrated and innovative banking services and solutions. This partnership embodies our steadfast commitment to providing diverse financial products that meet the needs and ambitions of citizen clients.”
Ms. Al Abbasi continued, saying “It also reflects our firm commitment to supporting government initiatives, contributing to the achievement of Bahrain Economic Vision 2030, and continuing to support the strategic development of the Kingdom of Bahrain. This affirms our leading role in the Islamic Banking sector.”
For his part, Dr. Khalid Abdulla, Chief Executive Officer of Eskan Bank, expressed his satisfaction with the announcement of this strategic partnership with Khaleeji to provide Shari’a-compliant Home Financing solutions to citizens, which aligns with Eskan Bank’s efforts to expand fruitful partnerships and provide exceptional services to its clients.
Dr. Khalid also added: “Through consolidating efforts with Khaleeji, we will leverage our expertise and resources to support citizens benefiting from Home Financing services and contribute to the achievement of Bahrain’s economic vision. We are confident that this cooperation will yield positive results, and we look forward to working closely with Khaleeji to provide innovative financial solutions that meet the diverse needs of citizens.”
It is worth mentioning that Khaleeji Bank is a distinguished Islamic Bank that seeks to fulfill clients’ ambitions through an Islamic banking model that offers a comprehensive range of high-quality banking services for individuals and companies, as well as Shari’a-compliant investment opportunities.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, is celebrating the arrival of the holy month of Ramadan by launching exclusive offers for its Credit Card Holders, which includes getting up to 10% Cashback on Ramadan groceries. Moreover, this Ramadan offer includes 1% Cashback on all purchases throughout the holy month, in addition to 9% cashback on Ramadan supplies. Cardholders can also earn Air Miles with Gulf Air and enjoy many other exclusive offers.
Additionally, the campaign covers purchases made using Khaleeji’s Credit Cards at any supermarket or on mobile applications. The maximum Cashback limit on total purchases during the holy month is set at BD 100, including the Primary Credit Card and any Supplementary Cards if applicable. This campaign will run from 11th March until 9th April 2024.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, stated “We are delighted to share the joy of the holy month’s arrival with our valued clients through the launch of this exceptional campaign, which offers unique benefits to Credit Card Holders. Through this campaign, we aim to enhance our valued clients’ experience by rewarding them for shopping at any supermarket or on mobile applications using our cards, which are known for their ease of use and security.”
Ms. Al Abbasi added “We are pleased to invite all our valued clients to seize this opportunity by using their Credit Cards during while shopping for Ramadan groceries and supplies in order to get rewarding Cashback, as well as Air Miles and exclusive discounts at select stores.”
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the completion of its Extraordinary General Meeting (EGM) on Monday 4th March 2024, during which a number of decisions were taken that included the approval of increasing the bank’s Issued and Paid-up Capital to BD 113,044,071, an increase of BD 28,261,018.
The EGM was chaired by Mr. Hisham Alrayes, Khaleeji Bank’s Chairman of the Board of Directors, in the presence of a number of board members as well as Mr. Sattam Sulaiman Algosaibi, Khaleeji Bank’s Chief Executive Officer. The EGM witnessed the approval of the Board of Directors’ proposal to convert 47% of Additional Tier 1 Capital Sukuk which was approved to be issued in the EGM held on 25th March 2020 (“Additional Tier 1 Capital Sukuk”) having a par value of USD 74,962,912 into 282,610,178 ordinary shares representing 25% of the Bank’s Issued and Paid-up Capital (excluding Treasury Shares), after obtaining the Central Bank of Bahrain’s approval.
The EGM also witnessed the approval of the Board of Directors’ proposal to redeem the remaining 53% of the Additional Tier 1 Capital Sukuk in cash before its maturity date after conducting the necessary amendments on the relevant documents and authorizing the Board to conclude all necessary decisions in relation thereof, subject to obtaining the Central Bank of Bahrain’s approval.
On this occasion, Mr. Hisham Al Rayes stated: “We extend our gratitude to our esteemed shareholders for their invaluable support and endorsement of the Board of Directors’ policies, which have significantly contributed to the bank’s success in terms of financial and operational performance. Khaleeji reaffirms its dedication to advancing steadily towards the attainment of further growth and prosperity in its banking operations. We pledge to deliver new accomplishments by leveraging an innovative business model that is poised to enhance our shareholders’ returns.”
He further added: “The decisions ratified by our esteemed shareholders affirm Khaleeji’s robust standing, solidifying its status as a cornerstone in the Kingdom’s banking & finance industry. The bank’s significant contributions and evident impact on sectoral advancement underscore its position as a key player in driving progress and development. We take pride in the bank’s achievements to date, culminating in the unveiling of its new identity, as we remain steadfast in our commitment to achieving strategic objectives.”
For his part, Mr. Sattam Sulaiman Algosaibi commented: “Khaleeji is proud to adopt a flexible and strategic vision that adapts with the changes and competition in the local market, placing it as one of the pioneers of the banking sector. We look forward to the decisions taken to strengthen our leadership position by continuing to develop and provide innovative products & services to our valued clients, further enhancing their banking 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.
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has announced the new edition of “Al Waffer” account, offering significant cash prizes to clients. The 2024 edition will feature 9 grand prizes and 35 monthly prizes totaling to more than USD 3 million to be drawn throughout the year.
This year’s edition of the “Al Waffer” account offers even larger cash prizes, including a USD 1 million prize for one winner to be drawn in December 2024. There are also eight prizes worth USD 250,000 each to be drawn separately in March, May, July, and September, while four of them will be drawn in December all at once.
Stemming from its commitment to rewarding its clients by offering valuable and exclusive cash prizes, Khaleeji has also increased the number of raffles for the “Al Waffer Club”, including five monthly prizes worth USD 10,000 each for club members, totaling to 35 prizes throughout the year. This enhances Khaleeji clients’ banking experience and underscores the bank’s dedication to providing exceptional opportunities for its clients.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, underlined the exclusive benefits offered by the new edition of the “Al Waffer” account to clients, stating: “We are delighted to announce the cash prize package allocated to “Al Waffer” clients in its new edition for this year, which includes 44 prizes worth more than USD 3 million. This reflects the bank’s commitment to continuously develop the account, raise the value of allocated prizes, and launch many special benefits for clients. By increasing the value of cash prizes, we aim to make the process of saving and investing in the account smoother and more rewarding for our clients.”
Elaborating further, Ms. Al Abbasi reiterated the bank’s keenness to provide exceptional and profitable opportunities through the “Al Waffer Club”, explaining: “Based on our firm commitment to enhancing our offered products and services, we constantly strive to provide our clients with exclusive benefits and prizes. We are proud to offer additional monthly raffles for the “Al Waffer Club”, an exclusive club that grants exceptional prizes and benefits to clients who deposit BD 5,000 or more into their “Al Waffer” account.”
Ms. Al Abbasi concluded saying “We are pleased to invite our existing and new clients to take advantage of this opportunity and open an “Al Waffer” account, or make additional deposits via the Khaleeji App in a swift and seamless manner, or at one of the bank’s branches to qualify for a chance to win one of our valuable prizes this year. We wish all depositors the best of luck.”
The “Al Waffer” account is a Shari’a-compliant investment account based on the principles of “Absolute Mudharabah”. The account can be opened with a minimum amount of BD 50, while entry points into raffles will be calculated for every BD 25 in the account. Clients can benefit from the Double Points System during raffles if their account balance is maintained or increased without conducting any withdrawals for more than 90 days before the raffle’s date.
For more information about the “Al Waffer” account, please visit the account’s webpage on the bank’s website www.khaleeji.bank or contact Khaleeji Bank’s Call Center on 17540054.
In conjunction with Bahrain Sports Day 2024, Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has recently organised a special occasion for a number of its employees from various departments and divisions who achieved outstanding sporting accomplishments during the past year. This is an initiative that is the first-of-its-kind among banks in the Kingdom, as it represents an encouraging step aimed at creating an environment that is supportive of employees’ achievements and highlighting them at all levels, especially in sports.
On this occasion, Mr. Sattam Sulaiman Algosaibi, CEO of Khaleeji Bank, honoured the employees during said ceremony. The employees honoured were: Mr. Yusuf Hasan Husain from the Risk Management Department, who successfully climbed Uhuru Peak, the highest peak of Mount Kilimanjaro in Tanzania and all of Africa, covering a distance of 85 km on foot. Mr. Mohamed Abdulkarim Mureed from the Corporate Banking & Debt Capital Markets Department, who was honoured for winning the Bahrain Bowling Association League and the Baker Cup Bowling Competition at the Kingdom’s level. Mr. Omar Ebrahim Qaed from the Retail Banking Department, who was recognised for achieving the title of number one Padel player in the Kingdom of Bahrain, reaching seven finals and winning a ranked tournament. Mr. Fawaz Mahmoud Al Sendi from the Credit Management Department, who was honoured for completing a Half Marathon of 21.1 km and a Full Marathon of 42.2 km with a team of four.
This event comes in line with the objectives of Bahrain Sports Day, which is celebrated this year on 22nd February, and aligns with the directives of the Respected Cabinet headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to promote sports as a societal culture in the Kingdom. The initiative also reflects the support that Khaleeji Bank provides to the achievements of its employees in various cultural, educational, and sports fields, highlighting the bank’s commitment to encouraging a culture of health, teamwork, and success within the organisation.
On this occasion, Ms. Fatima Ahmed Al Bin Ali, Head of Human Resources at Khaleeji Bank, commented “We at Khaleeji believe in promoting a healthy and balanced lifestyle among our employees. We are also keen on fostering a positive work culture and encouraging our employees to participate in various sports and cultural activities. Therefore, we value honouring and highlighting the efforts and achievements of our employees.”
She also added “This initiative came in conjunction with this year’s Bahrain Sports Day to honour this group of employees for their honourable achievements in the field of sports. It serves as an opportunity to embody the bank’s appreciation for their contributions and encourages a sense of pride and loyalty among our team members. This gesture also motivates our employees to participate, excel, and achieve noteworthy ambitions in various sporting events, positively impacting their personal lives and professional performance.”
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 a rewarding start to the new year for “Al Waffer” account holders during the new year. The announcement includes more monthly raffles for “Al Waffer Club”, in addition to the Grand Prize for the month of March, which is set at $250,000.
The bank has also recently held a raffle for “Al Waffer Club” prizes for the month of January, where five lucky winners received a cash prize worth $10,000 each. These rewards showcase the bank’s commitment to providing exceptional profit opportunities for its valued clients.
Winners of the January raffle for the “Al Waffer Club” were Mr. Khalaf Hussain Al Banna, Mr. Abdullah Juma Al Markhi A/C Redha, Ms. Ebtisam Mohammed Al Rifaei, Mr. Fawaz Abdulaziz Al Khunaizi, and Ms. Nadeen Abduljalil Al Mushaimea.
Khaleeji has stressed that the coming period will witness the announcement of more prizes for “Al Waffer” account holders, granting participants the opportunity to win valuable cash prizes and enhance their financial well-being. It’s worth noting that Khaleeji is constantly seeking to enhance its offers and provide innovative banking solutions to meet the evolving needs of its clients, through the frequent announcement of valuable prizes and rewarding opportunities, ensuring that clients benefit from the exclusive advantages of investing in the “Al Waffer” account.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, stated “We are pleased to announce the prizes allocated to “Al Waffer” account holders this year. We are also encouraged by the positive interaction and participation observed in last year’s version of the account, which serves as motivation for us to further enhance the experience for our valued clients.”
Ms. Al Abbasi added: “We are delighted to announce that we will be rewarding more winners in the coming months, having a positive impact on the lives of our valued clients by helping them achieve their ambitions. Congratulations to the winners of “Al Waffer Club’s” January prizes. I would like to take this opportunity to invite our clients to seize this opportunity and open an “Al Waffer” account today to qualify for this year’s March Grand Prize, and increase their deposits to join the “Al Waffer Club” through the “Khaleeji Mobile Application” or by visiting one of the bank’s branches to earn more chances of winning. We wish everyone the best of luck”
“Al Waffer” account is a Shari’a-compliant investment account based on the principles of “Absolute Mudarabah”.
For more information about the “Al Waffer” account, please visit the account’s webpage on the bank’s website www.khaleeji.bank or contact Khaleeji Bank’s Call Center on 17540054.
Khaleeji Bank B.S.C has announced a total net loss attributable to the Bank’s shareholders of BD 402 thousand during Q4 2023, compared to a profit of BD 3.12 million in the same period in 2022, a decrease of 112.87%.
Earnings per share reached -4.251 Fils during Q4 2023, compared to 0.154 Fils for the same period of the previous year. Total income before return to investment account holders amounted to BD 21.578 million during the last quarter of this year, compared to BD 18.571 million for the same period of the year 2022, an increase of 16.19%. The increase is mainly attributable to the bank recording an increase in income from placements with financial institutions, investments in securities, fees and other income.
The financial results also showed that the bank achieved a net profit of BD 9.003 million attributable to the Bank’s shareholders for the fiscal year ended 31st December 2023, compared to a net profit of BD 14.007 million for the same period of the previous year, a decrease of 35.72%. Earnings per share reached 3.753 Fils in 2023, compared to 9.987 Fils in 2022. The bank reported an increase in income before return to investment account holders reaching BD 88.271 million during 2023, compared to BD 62.204 million for the same period in 2022, with an increase of 41.91%. The aforementioned increase is attributable to the bank recording an increase in income from financing assets, placements with financial institutions, investments in sukuk and investment securities, fees and other income.
Equity attributable to owners of the parent reached BD 148.715 million in 2023, compared with BD 147.642 million reported by the end of 2022, with an increase of 0.73%. Meanwhile, the total growth in the Bank’s assets was recorded at 5.38%, reaching BD 1,502.4 million, compared to BD 1,425.7 million in 2022. Investment in Sukuk slightly decreased to reach BD 522.75 million in 2023 compared to BD 523.33 million at the end of 2022, a decrease of 0.11%. At the same time, the financial results showed a decrease in total deposits by 4.83% to reach BD 1,057.83 million, compared to BD 1,111.53 million at the end of last year.
Commenting on the financial results, Mr. Hisham Ahmed Alrayes, Chairman of Khaleeji Bank’s Board of Directors, stressed that the bank is moving in the right direction despite all the surrounding circumstances. He stated that the bank is adhering to an ambitious strategy based on innovation and creativity to provide the best banking products & services, which have an important impact in achieving the bank’s visions, in line with its new identity to achieve the ambitions of the youth and pave the way for them to excel and succeed.
Mr. Alrayes further stated “These results were achieved despite how financial institutions around the world have been affected by the high cost of financing due to the increase in global profit rates and their impact on local profit rates, which has been reflected in the performance of most institutions operating in the banking sector. We are aware of the challenges associated with high profit rates and their impact on growth rates, which is why we have harnessed our resources to overcome them and ensure the sustainability of the bank’s profitability, based on the Kingdom’s favourable economic environment which is of great importance to the prosperity and excellence of banks. We will continue our distinguished journey towards new horizons of success, confident in Khaleeji’s new vision and strategy in line with its identity and goals.”
Mr. Alrayes concluded saying “In this regard, I would like to extend my sincere gratitude and appreciation to our valued clients for their trust and faith in Khaleeji Bank. I would also like to express my gratitude to our team for what they have provided during a busy and successful year.”
For his part, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, commented “Despite all the regional and local challenges, we are proud of what we achieved last year, which constituted an important milestone in the history of this national financial institution with the launch of its new identity under the name “Khaleeji Bank”. This is in line with the prominent position that the bank now occupies in the Kingdom and the GCC region as a key partner in ambition, development, and achievement.”
Mr. Algosaibi also said “These results are consistent with the bank’s strategic plans over the past year and the coming period, with the announcement and launch of the bank’s new identity being one of its most important milestones, in a way that is commensurate with the prominent position that Khaleeji has now occupied in the Kingdom and the GCC region as an essential partner in ambition, development, and achievement.”
Furthermore, Mr. Algosaibi explained: “In this context, during the year 2023, the bank has continued to conclude fruitful partnerships with a number of public and private sector institutions, which included signing a credit facility agreement worth USD 200 million with Bapco Energies, signing a strategic partnership agreement with STC Pay, and signing an MoU with the Social Insurance Organisation aimed at strengthening the partnership between the two parties to facilitate the provision of pension exchange services to citizens under the Organisation’s umbrella in compliance with the provisions and principles of Islamic Shari’a, in addition to signing an agreement with the Labour Fund “Tamkeen” to launch a special financing program aimed at supporting Bahraini doctors working in the public and private sectors who wish to complete their studies.”
Mr. Algosaibi also mentioned “The bank was keen to expand cooperation with the Ministry of Housing & Urban Planning and Eskan Bank to provide Home Financing solutions with exceptional benefits to citizens who meet the criteria of social housing programs, in addition to several leading real estate development companies in the Kingdom. During the past year, Khaleeji has also announced the launch of the “Salary Account”, which is compatible with the principles and provisions of Islamic Shari’a, offering unique benefits such as an expected profit rate of up to 4%, a chance to enter monthly raffles for valuable cash prizes, and other exclusive benefits. Additionally, the bank has celebrated the graduation of the first cohort in its innovative and exclusive training program “Banking Gateway” during the past year, which it launched with the aim of arming those newly joining the labour market with the necessary experience and skills to adapt to job requirements in the banking sector. Moreover, the bank has signed a joint cooperation agreement with the Royal Medical Services to build a specialised center for prostate cancer, equipped with the latest international technologies.”
Mr. Algosaibi concluded saying “We will work during the current year to continue this expansive approach, which will enhance the bank’s leadership position in the Islamic Banking sector, in a way that achieves the ambitions of our valued partners, clients, and shareholders.”
The full financial results and press release are available on Bahrain Bourse’s website as well under the trading code: KHALEEJI.
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced its participation in the third edition of the Housing Finance Exhibition, scheduled to take place at City Center Bahrain on 8th – 17th February 2024, organised by the Ministry of Housing & Urban Planning in collaboration with Eskan Bank.
Khaleeji will be offering exclusive benefits and competitive financing solutions to enable citizens to realise their ambition of owning their dream home. The bank’s dedicated team will be present at its pavilion throughout the event’s 10 days to provide expert advice, answer any queries, and guide visitors on the best financing solutions that align with their aspirations.
Moreover, Khaleeji has announced exclusive benefits that include a flexible repayment period of up to 30 years and a grace period of 12 months, in addition to zero charges on any administrative, valuation, or fire insurance fees, as well as private notary fees to ensure a seamless and comfortable experience for clients. The bank is also offering a special promotion for the first 25 financing applicants at the exhibition pavilion.
In addition to these attractive financing offers, Khaleeji is offering a range of additional benefits to all clients, granting them the opportunity to participate in raffles on valuable cash prizes. Furthermore, clients can open a “Salary Account”, which is compatible with the principles and provisions of Islamic Sharia, offering unique benefits such as an expected profit rate of up to 4%, and a chance to enter monthly raffles to win one of five cash prizes worth BD 1,000 each. Khaleeji is also offering exclusive merchant discounts to its Credit Card Holders, enabling them to enjoy additional savings on their purchases.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, expressed her delight with the bank’s third consecutive participation in the Housing Finance Exhibition. She commended the proactive efforts of the Ministry of Housing & Urban Planning and Eskan Bank, while emphasising Khaleeji’s commitment to offering optimal financing solutions to its clients.
Ms. Al Abbasi said “Stemming from its prominent role as one of the leading Islamic financial institutions in the Kingdom of Bahrain and the region, Khaleeji is keen to provide innovative and competitive financing solutions to its clients. We are pleased to participate in the Housing Finance Exhibition as part of our ongoing commitment to supporting clients to achieve their ambitions of owning a housing unit that meets their aspirations.”
Ms. Al Abbasi further stated: “Through exclusive offers and benefits, such as competitive profit rates and exemptions from additional fees, Khaleeji aims to make the ambition of owning a residential unit more attainable at affordable prices that cater to all segments of society. Our participation in such exhibitions demonstrates our commitment to promoting financial inclusion and empowering individuals to make informed decisions regarding their housing requirements. Khaleeji will persist in prioritising excellence and innovation in customer service and product offerings to deliver unparalleled value to our clients.”
Ms. Al Abbasi concluded “I am delighted to invite all clients to visit Khaleeji’s pavilion during the exhibition to take advantage of exclusive offers for the first 25 financing applications submitted at the event. Our knowledgeable staff will be on hand to provide expert advice on the best solutions available for different segments of society.”
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 that it recently obtained the prestigious “ISO 22301:2019” certification for Business Continuity Management (BCM) from the International Organisation for Standardisation (ISO), after undergoing audit procedures and successfully passing them after meeting all standard requirements.
The “ISO 22301:2019” certificate is an internationally recognised standard for demonstrating excellence in BCM. Khaleeji Bank has been awarded this certificate as part of its commitment to adopting the highest international standards to ensure business continuity, as well as continuously striving to implement best practices that enhance its readiness to handle potential risks and maintain sustainable operations. This is particularly important in delivering banking services, such as Shari’a-compliant financing for Small and Medium Enterprises (SMEs), as well as retail and corporate banking services.
This certification further demonstrates Khaleeji Bank’s dedication to implementing a resilient framework that guarantees seamless operations in the face of any unforeseen disruptions or crises. It underscores the bank’s unwavering commitment to operational reliability, risk management, and delivering exceptional customer service. Additionally, it guarantees the accessibility and reliability of its Shari’a-compliant banking services, even in the most unpredictable circumstances.
On this occasion, Mr. Abdulkarim Mohamed Al Zakari, Chief Risk Officer at Khaleeji Bank, commented “We are delighted to announce that Khaleeji Bank has successfully obtained the ‘ISO 22301:2019’ certification for Business Continuity Management. This milestone affirms our unwavering dedication to delivering top-notch financing solutions to SMEs in accordance with Islamic Shari’a principles, as well as retail and corporate banking services. It serves as a testament to our steadfast commitment to offering uninterrupted financial solutions to our valued clients, while upholding the utmost benchmarks of operational agility and customer service.”
Mr. Al Zakari added: “Khaleeji Bank demonstrates its commitment to innovation and a client-centric approach through its successful acquisition of this certification. This achievement enhances the bank’s standing as a leading establishment in the Islamic Banking industry, while emphasising its dedication to meeting the diverse and ever-changing requirements of its esteemed clientele. Additionally, this certification signifies the bank’s preparation to flexibly address unforeseen circumstances, ensuring uninterrupted business operations and safeguarding the best interests of its clients.”
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.