Al Salam takes over BMI Bank
Manama : Al Salam Bank-Bahrain (ASBB) yesterday successfully completed the acquisition of BMI Bank.
The move, pursuant to the approval of the Central Bank of Bahrain, transfers the entire business of BMI Bank to ASBB including all its assets and liabilities, ASBB said in a statement.
On the occasion, Yousif Taqi, Director & Group CEO of Al Salam Bank-Bahrain said, “We are pleased to accomplish another milestone that is part of our strategy and in line with our continued commitment to enhance our shareholder’s value.”
He further added, the bank is committed to facilitate a smooth transition of all BMI Bank businesses, which will gradually be transferred to Al Salam Bank.
“Customers will take advantage of ASBB’s complete range of innovative and unique Shari’a-compliant financial products and services through its extended network of branches and ATMs by providing quicker, more amalgamated products and services for our Islamic banking customers,” the statement said.
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