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 Britus Education Platform to provide educational financing solutions for its schools in the Kingdom of Bahrain. This collaboration aims to provide easy banking solutions to support tuition fees.

The signing ceremony took place at Khaleeji Bank’s main headquarters in the capital of Manama, where Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, signed alongside Ms. Fatema Ahmed Kamal, CEO of the Britus Education Platform, in the presence of representatives from both parties.

Under this memorandum, Khaleeji Bank will provide an educational financing solution that allows parents to obtain funding for students’ tuition fees with a convenient payment plan, helping them manage financial obligations while leaving room to achieve their future goals. This collaboration also aims to encourage students to explore and benefit from the various available financial products and offers on their academic and personal journeys.

On this occasion, Ms. Ameera Ahmed Al Abbasi stated “We are pleased to announce this partnership with Britus Education Platform in providing financing solutions to parents. This collaboration reflects our firm commitment to supporting the educational process and empowering students by offering innovative financing solutions. We also aim to reduce their financial burdens and enable them to pursue their academic ambitions without restrictions.”

For her part, Ms. Fatema Ahmed Kamal commented “We are pleased to solidify this memorandum with Khaleeji Bank and to express our appreciation for the exceptional banking products and services it provides. This partnership reflects our schools’ keenness to facilitate the educational process, ensuring that students have the necessary resources to complete their studies. Through this collaboration with Khaleeji Bank, we seek to enhance our inclusive environment with the goal of supporting students on their academic and personal journeys.”

It is worth noting that 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.

About the Britus Education Platform:
Britus Education Group is a K-12 educational platform managed by GFH, supported by world-class research, and based on the principle “There is no limit to what each child can learn and achieve”. Our teachers are trained in this philosophy and their approach encourages our students to be passionate, determined, creative, and confident in their own abilities.

We go beyond good grades, we help each student discover and nurture their individual talents – whether through academics, sports, or the performing arts. Every child is different and we aim to not only build on their individual strengths and passions, but to give them the motivation to overcome and master areas that seem challenging at first.

Britus Education currently owns and manages 9 schools across the GCC. For more information about, please visit: https://brituseducation.com/

Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced Mr. Hassan Saleh Sulaibeekh as the “Al Waffer” Account’s fourth and final grand prize winner for the year 2023, where the raffle took place on 4th January 2024 at Khaleeji’s headquarters in the presence of representatives from the Ministry of Industry & Commerce.

The 2023 edition of the “Al Waffer” Account included four grand prizes worth a quarter million Bahraini Dinars each, while the account also included exclusive monthly prize raffles for members of the “Al Waffer Club” worth BD 5,000 each.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, commented “We take great pride in the significant success attained during the 2023 edition of the Al Waffer Account. I would like to extend my utmost congratulations to Mr. Hassan Saleh Sulaibeekh for securing the final grand prize for the year 2023. We were committed to making last year’s edition stand out by awarding four grand prizes worth a quarter million Bahraini Dinars each, demonstrating our unwavering dedication to providing the very best for our valued clients.”

Ms. Al Abbasi emphasised the bank’s unwavering dedication to continuously evolve and innovate its services to exceed its clients’ aspirations, through effective strategies that aim to enhance client satisfaction and enrich their financial experiences.

Ms. Al Abbasi also confirmed that Khaleeji will soon announce big surprises for the “Al Waffer” account’s 2024 edition, which will witness the allocation of larger cash prizes and exceptional benefits to its clients, including a variety of promotional programs associated with the account in appreciation of our valued clients.

It is worth noting that “Al Waffer” account is a Shari’a-compliant investment account based on the principles of “Absolute Mudarabah”. An account can be seamlessly opened via the Khaleeji App or by visiting any of Khaleeji Bank’s branches.

For more information about “Al Waffer”, please visit the account’s webpage on the bank’s website www.khaleeji.bank or contact the Call Center on 1754 0054.

The countdown for the “Al Waffer” account’s December Grand Prize Raffle has begun at Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, valued at a quarter million Bahraini Dinars (BD 250,000). The raffle will take place on 4th January 2024, an ideal opportunity to reach bold ambitions in the New Year. To that end, the bank has announced an extension of the Grand Prize’s participation period until 31st December of the current year.

This decision by Khaleeji Bank aims to allow a larger number of clients to participate in this raffle, which will be a significant milestone in the life of any lucky winner. The “Al Waffer” account is an innovative investment product launched by Khaleeji Bank, designed to provide clients with a qualitative solution to save their money while getting an excellent chance to win valuable cash prizes.

The bank has also announced Mr. Haroon Mohammed Rashid as the winner of the “Al Waffer Club’s” November 2023 cash prize with a value of BD 5,000. The winner of the final “Al Waffer Club” cash prize for the year 2023 will be announced the following month as well.

The 2023 edition of the “Al Waffer” account included four Grand Prizes, each valued at a quarter million Bahraini Dinars, with raffles taking place every three months. One final Grand Prize remains for this edition, its raffle set to be held on the first week of the coming year, in addition to the final “Al Waffer Club” cash prize valued at BD 5,000.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, affirmed that this decision stems from the bank’s commitment to provide its clients with greater winning opportunities, especially with prizes that have the potential to change their lives. This aligns with the bank’s vision to enhance client satisfaction by providing banking products & services that have a clear impact on achieving their ambitions.

She further added “We invite our valued clients to seize this opportunity and open an “Al Waffer” account today to qualify for this year’s final Grand Prize, or increase their deposits 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.”

It is worth noting that the “Al Waffer” account is a Shari’a-compliant investment account based on the principles of “Absolute Mudarabah”. The account can be opened with a minimum amount of BD 500. Entry points towards prize raffles are calculated for every BD 25 in the account.

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, one of the leading Islamic banks in the Kingdom, has recently signed a Memorandum of Understanding “MoU” with ASK Real Estate, the prominent Bahraini real estate service company. This partnership marks a significant milestone in the 2nd development phase of the “Beaut Al Budaiya” project, an ambitious initiative aimed at creating a sustainable city in Budaiya’s coastal area.

Under this memorandum, Khaleeji Bank and ASK Real Estate will collaborate to provide financing solutions for the “Beaut Al Budaiya” project, the first of its kind in Bahrain. The project features residential villas designed per international standards and offers an integrated modern city and a vibrant community. This project is primarily aimed at Bahraini citizens eligible for the “Mazaya” social housing program and offers a range of reasonably priced residential villas, including 4- and 3-bedroom units of various sizes and designs, catering to the needs of contemporary Bahraini families in a modern and sophisticated residential unit.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “The “Beaut Al Budaiya” project perfectly aligns with our unwavering dedication to delivering innovative and sustainable housing solutions to our valued clients. By partnering with ASK Real Estate in this exceptional venture, we strive to foster the growth and evolution of the Kingdom’s real estate industry, while also bolstering endeavours aimed at fortifying the collaboration between public and private sectors. Our goal is to provide citizens with contemporary housing solutions.”

On his part, Mr. Karim Yazji, Chief Executive Officer of ASK Real Estate, said “We are proud of this collaboration with Khaleeji Bank in this phase of the “Beaut Al Budaiya” project, as it represents an important step in the Kingdom’s real estate landscape through providing a community that combines modern living and a strong community spirit. We also believe that this partnership with Khaleeji Bank will greatly enhance the project’s success and its achievement of our desired goals.”

The “Beaut Al Budaiya” project is located at a strategic area in Budaiya within the Northern Governorate that enables easy accessibility from Hamad Town, Budaiya Highway, and Janabiya Highway. The project also boasts an excellent location surrounded by many facilities and amenities, including gas stations, supermarkets, the Budaiya Farmers Market, Budaiya Beach, parks, shopping areas, retail outlets, educational institutions, and more.

This partnership between Khaleeji Bank and ASK Real Estate reflects their shared vision of providing sustainable and comprehensive housing solutions that cater to the evolving needs of Bahraini families. By leveraging their respective expertise, the two entities aim to redefine modern living in the Kingdom of Bahrain.

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 recently announced a partnership contract with Naseej, a leading Bahraini real estate development company. The contract will offer citizens exclusive benefits when purchasing residential units in recently developed projects by Naseej, such as “Basateen” in Busaiteen, “Canal View” on Dilmunia Island, and “Nasayem Arad” in Arad.

Under this agreement, Khaleeji Bank’s clients will have access to financing with a tenor of up to 25 years, as well as a grace period of up to 6 months when purchasing a residential unit in one of the aforementioned projects. They will also be eligible to win cash prizes of up to BD 1,000 and exclusive offers from select retail brands. Additionally, clients will benefit from opening a “Salary Account” which provides unique benefits, such as an expected profit rate of up to 4% of their salary’s value, no minimum balance, and a chance to win on of 5 cash prizes worth BD 1,000 each in monthly exclusive raffles for Salary Account Holders.

The “Basateen” project is considered a pioneer in the Muharraq Governorate, providing high-quality, sophisticated, and distinctive residential villas. The project offers typical residential models in design, construction, finishing, and decor, making them the ideal choice for families looking for luxury housing with a variety of features and amenities that meet the needs of every home and family housing. This project consists of 23 villas built on a total area of approximately 5,000 square metres. The villas range from 180 to 457 square metres in size, with three- and four-bedroom options available.

The “Canal View” project offers 246 luxury apartments for sale or rent with full ownership, which include a variety of different units like studio, as well as one-, two-, three-, and four-bedroom options. The units provide stunning views of the canal and the main fountain on Dilmunia Island, making it an ideal choice for families seeking a quiet and safe environment on a private island, allowing them a very modern lifestyle with amenities that meet their daily needs.

Finally, the “Nasayem Arad” project stands out for its strategic location overlooking Arad Bay, offering 136 residential plots and 98 residential villas. The land’s plot ranges from 301 to 544 square metres, with many of them overlooking the waterfront adjacent to Arad Fort and Arad Bay. Furthermore, the project is within walking distance from Seef Mall Muharraq, as well as other shops and restaurants.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of the Retail Banking at Khaleeji Bank, stated “We are delighted to announce our cooperation with Naseej, the leading Bahraini real-estate development company. Through this partnership, we aim to provide exclusive offers to citizens wishing to buy their dream homes in projects recently developed by Naseej, including Basateen, Canal View, and Nasayem Arad. Clients applying for this offer will benefit from unique and exceptional advantages that ensure them the convenience of owning a high-end residential unit in one of the most prestigious projects developed by Naseej.”

Ms. Al Abbasi further added “I would like to extend this invitation to citizens and our valued clients to take advantage of these offers, which we have allocated to be the ideal choice for obtaining high-end residential units, while also ensuring an exceptional experience in all stages of application, thanks to our qualified team.”

For his part, Mr. Mohammed Al Shaikh, Head of Investments at Naseej, stated “We are proud to collaborate with a leading financial institution in the Kingdom to offer exclusive financing solutions for citizens who wish to own property in our projects. These projects include villas, apartments, and residential plots, which provide unique housing solutions that fulfil the needs of Bahraini citizens. Basateen, Canal View, and Nasayem Arad are well-known for their strategic locations and high-quality specifications, be it for their exceptional designs or structural standards.”

Mr. Al Shaikh further added: “The financial solutions offered by Khaleeji Bank present an ideal option for owning property in our prestigious projects. These projects have been attracting a growing number of customers, thanks to their exceptional features.”

Khaleeji (Trading Code: KHALEEJI) has announced its financial results for the third quarter of 2023, reporting a net profit of BD 2.454 million attributable to the shareholders of the bank, compared to BD 4.074 million for the same period of the previous year, which is a decrease of 39.76%. The earnings per share reached 3.067 Fils, compared to 5.092 Fils for the same period of the previous year. Total Income before Return to Investment Account Holders for the third quarter of 2023 amounted to BD 21.905 million, compared to BD 16.722 million reported in the same period of the previous year, which is an increase of 31.00%.

The bank has reported a net profit of BD 9.405 million attributable to the shareholders of the bank in the first nine months of this year, compared to net profit of BD 10.88 million for the same period of the previous year, which is a decrease of 13.59%. The earnings per share reached 8.004 Fils, compared to 9.827 Fils for the same period of the previous year. Total Income before Return to Investment Account Holders for the first nine months of 2023 amounted to BD 66.693 million, compared to BD 43.633 million reported in the same period of the previous year, which is an increase of 52.85%. The aforementioned increase is mainly attributed to reporting an increase in income from financing and sukuk assets, as well as other fees and income.

The financial results for the period ended 30th September 2023 also showed an increase in the Total Owners’ Equity (after excluding minority interests) by 1.02% reaching BD 159.38 million, compared to BD 157.77 million in the preceding year, as well as an increase in Total Assets by 2.61% reaching BD 1,462.88 million, compared to BD 1,425.69 million in the preceding year.

Total investment sukuk showed an increase by 1.06% reaching BD 528.87 million, compared to BD 523.33 million in the preceding year. Total Financing and Asset Acquired for Leasing increased by 5.27% bringing it to BD 531.49 million compared to BD 504.86 million in the same period of the previous year. Total Deposits reported a slight decrease by 0.42% reaching BD 1,106.88 million compared to BD 1,111.53 million reported last year.

Commenting on the financial results, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of Khaleeji Bank, stated “These results demonstrate our commitment to maintaining a positive financial performance, while also enhancing our business model to align with current trends and developments. This involves identifying productive new partnerships and areas of growth that are in line with our ambitions to enhance the bank’s leadership and positive outcomes. These efforts are made possible through an innovative business model centered on digital transformation and a proactive approach to leveraging diverse developments, both domestically and globally.”

Mr. Algosaibi added: “While the financial sector still faces many challenges regionally and globally, we remain optimistic about the future at Khaleeji, especially with the launch of our new identity earlier this year as part of an ambitious vision aimed at achieving more growth and prosperity in the future. We will continue to leverage our strengths and emerging opportunities in local and regional markets, while maintaining our proactive approach to respond to changing market conditions and client aspirations. I would like to thank the Board of Directors for their wise guidance and continuous support, which is a strong motivation for us to achieve further positive results in the coming period. I also express my sincere gratitude and appreciation to our clients, shareholders, and employees for their steady support and commitment to Khaleeji. Our achievements during the past period would not have been possible without their trust and loyalty to the Bank.”

The full financial results and press release are available on Bahrain Bourse website.

Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced Mr. Sameh Awadh Hashim as the “Al Waffer” Account’s third grand prize winner for September 2023 worth BD 250,000. The respective raffle took place at the bank’s headquarters on 5th October 2023, in the presence of representatives from the bank’s management as well as the Ministry of Industry & Commerce “MOIC”.

The 2023 edition of the “Al Waffer” Account includes four grand prizes worth a quarter million Bahraini Dinars each, with raffles taking place every three months. This leaves only one grand prize remaining for this year, which will be drawn on the first week of January next year. Moreover, the account includes exclusive monthly prize raffles for members of the “Al Waffer Club” worth BD 5,000 each.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking, commented: “We are pleased to announce the third “Al Waffer” grand prize winner this year, wishing clients the best of luck in the coming raffles. The “Al Waffer” account embodies Khaleeji’s commitment to offering its valued clients a distinguished banking experience in terms of valuable cash prizes and special benefits that include the “Double Points System” which boosts chances of winning grand and exclusive monthly prize allocated to members of the “Al Waffer Club”. This also reflects the bank’s constant endeavour to provide rewarding Shari’a-compatible investment solutions that achieve clients’ ambitions and meet their aspirations.”

Ms. Al Abbasi added: “We invite our valued clients to seize this opportunity and open an “Al Waffer” account today or increase their deposits through the “Khaleeji Mobile Application” or by visiting one of the bank’s branches, to qualify for the next grand prize raffle. I wish the best of luck to everyone.”

It is worth noting that “Al Waffer” is a Shari’a-compliant investment account based on the principles of “Absolute Mudarabah”. An account can be opened with a minimum amount of BD 500, where entry points towards prize raffles will be calculated for every BD 25 deposited in the account.

For more information about “Al Waffer”, please visit the account’s webpage on the bank’s website www.khaleeji.bank or contact the Call Center on 1754 0054.

Stemming from its solid commitment to expanding its strategic partnerships with various private and government entities, with the aim of providing a variety of innovative banking products & services that meet the aspirations of its clients, Khaleeji Bank (KHALEEJI), one of the leading Islamic Banks in the Kingdom of Bahrain, has recently signed a Memorandum of Understanding (MoU) with the Social Insurance Organisation (SIO).

The Memorandum seeks to strengthen 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 & principles of Islamic Shari’a.

The signing ceremony took place at the SIO’s headquarters in the Diplomatic Area of Manama, where Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of KHALEEJI, signed the agreement on behalf of the bank while Ms. Eman Mustafa Al Murbati, Chief Executive Officer of the SIO, signed the agreement on behalf of the organization in the presence of several officials from both sides.

It is noteworthy that the signed MoU aims to enable the Bank to finance the provision of pension exchange services provided by SIO to its clients, in line with the provisions & principles of Islamic Shari’a. The agreement will take effect at the beginning of next October, to contribute to the provision of distinguished financial solutions to SIO clients.

On this occasion, Mr. Algosaibi stated: “We are delighted at KHALEEJI to sign this memorandum with the SIO, in line with our visions and aspirations aimed at expanding our partnerships with society’s leading institutions, especially ones that are as important as the SIO which is considered one of the key public bodies in the Kingdom of Bahrain.”

He further added: “This collaboration will allow the provision of distinctive services to clients of the social insurance system to seamlessly access the pension replacement service.”

Khaleeji is a leading Islamic bank that strives to achieve clients’ aspirations 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 names of the five winners in the “Salary Account’s” monthly raffle, where each client won a cash prize worth BD 1,000.

Launched last June, the “Salary Account” offers exclusive benefits that include an Expected Profit Rate of up to 4% of the salary’s value at no minimum balance, in addition to the opportunity to obtain one of Khaleeji’s Credit Cards, Platinum or Infinite, which offer many perks that include cashback, free air miles, exclusive discounts, and more.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji, stated: “We are thrilled to announce the five winners of the “Salary Account” cash prizes worth BD 1,000 each for the month of July, wishing account holders the best of luck in the coming monthly raffles. This modern product is in line with our relentless endeavours to provide a unique and innovative banking experience to our valued clients.”

Ms. Al Abbasi further added: “At Khaleeji, we have been constantly keen to place our clients at the core of our operations as their reliable partner in ambition and success. This approach is translated by the Bank’s new identity, which was revealed last June. I am pleased to invite all clients to transfer their salaries to the ‘Salary Account’ and avail themselves of its exceptional and exclusive benefits offered for the first time by this account in comparison to similar accounts, with an Expected Profit Rate of up to 4%, valuable monthly cash prizes, and many other benefits.”

In the first raffle for “Salary Account” holders, Mr. Nasser Marshad Faraj, Mr. Isa Mahmood Al Ansari, Mr. Ahmed Ebrahim Butti, Mr. Faisal Ali Saleh, and Mr. Srikrishna Polepeddi won BD 1,000 each. More raffles will be held for five cash prizes with a total value of BD 5,000 at the end of each month.

Khaleeji is a leading Islamic bank that strives to achieve clients’ aspirations 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 (Trading Code: KHALEEJI) has announced its financial results for the second quarter ended 30 June 2023, reporting a net profit attributable to the Bank’s shareholders of BD 3.199 million, compared to BD 3.362 million for the same period of the previous year, with a decrease of 4.85%. Earnings per share amounted to 0.25 Fils, compared to 0.45 Fils for the same period last year. Total income before return to investment account holders for the second quarter of 2023 amounted to BD 22.888 million, compared to BD 13.208 million reported in the same period of the previous year, with an increase of 73.29%. The change is mainly attributable to the increase in income from financing, sukuk, and investment securities.

As for the biannual financial results for the period ended 30 June 2023, Khaleeji reported a net profit attributable to shareholders of BD 6.951 million, compared to BD 6.810 in the same period last year, with an increase of 2.07%, while earnings per share for the period ended 30 June 2023 amounted to 4.94 Fils, compared to 4.74 Fils for the same period of the previous year. Total income before return to investment account holders for the period ended 30 June 2023 amounted to BD 44.788 million, in comparison with BD 26.911 million reported in the same period last year.

The financial results also showed an increase in total owners’ equity for the period ended 30 June 2023 by 0.44% reaching BD 158.46 million, compared to BD 157.77 million reported in 31 December 2022. This is in addition to an increase in total assets for the period ended 30 June 2023 by 3.37%, reaching BD 1,473.69 million, compared to BD 1,425.69 million reported on 31 December 2022, in addition to an increase in deposits by 0.61%, reaching BD 1,118.35 million, compared to BD 1,111.53 million reported on 31 December 2022. The results also witnessed an increase in Sukuk investments by 4.41%, reaching BD 546.39 million, in comparison with BD 523.33 million reported on 31 December 2022, as well as an increase in financing and ijarah assets by 6.73%, reaching BD 538.85 million, compared to BD 504.86 million reported on 31 December 2022.

Commenting on the Financial Results, Mr. Sattam Sulaiman Algosaibi, Chief Executive Officer of KHALEEJI, stated: “We are delighted that the Bank has achieved these positive results during the first half of this year. This comes within the action plan and ambitious visions set by the Board of Directors that coincides with the launch of the bank’s new identity, shaping our strategy through which we seek to achieve further progress toward broader horizons of success and prosperity. It is also in line with present requirements and the rapid developments the banking sector is witnessing at a local, regional, and international level.”

Elaborating further, Mr. Algosaibi said: “The steps taken by the Bank during the first six months of this year contributed to strengthening its financial base and operational performance. This included establishing several strategic partnerships, offering a variety of retail and corporate financing solutions, as well as continuing to invest in FinTech and harnessing it to provide a seamless and swift banking experience for clients. During the remaining months of the year, we will continue our strives to diversify our business and focus on attracting new segments of clients by providing innovative products and distinctive services.”

Mr. Algosaibi concluded: “Based on the growth achieved during the last period, we look forward to having these positive results in the first half of this year as an incentive for us to achieve more during the coming period, to reap the fruits of the sincere efforts made by every member of the Khaleeji family towards meeting the aspirations of our valued clients and shareholders, as well as continuing to provide an innovative banking experience that meets their ambitions and plays a major role in achieving them.”