Al Salam Bank announces launch of #AlSalamInitiative

TDT | Manama

Al Salam Bank-Bahrain has announced the activation of #AlSalamInitiative for customers to benefit from a series of offers ranging from profit-free loan schemes to credit line increases and instalment deferrals (subject to eligibility).

The bank said it will waive the applicable processing fees and charges for the offerings under the #AlSalamInitiative which will benefit the bank’s corporate, SME, and retail customers. Commenting, Rafik Nayed, Group Chief Executive Officer of Al Salam Bank-Bahrain, said: “As an active #TeamBahrain member, Al Salam Bank has taken swift action by offering a multifaceted package of measures to support our customers.

The initiative forms a key part of our ongoing corporate responsibility to the wider community. It is vital that the whole of #TeamBahrain comes together and plays their part.” As part of the initiative, retail customers who currently have outstanding facilities with the Bank can apply for a profit-free loan of BD 500 (Qard Hasan) with a repayment grace period to ensure the first repayment instalment falls after Ramadan thus offering further financial flexibility.

To ensure a seamless application process and fast processing, customers can apply through a dedicated online portal at initiative.alsalambahrain. com/qardhasan. Additionally, all customers will receive an automatic immediate 10 per cent credit card limit increase, as well as access to a dedicated relationship manager to streamline delivery of banking products and services. Corporate and SME customers will be able to apply for instalment deferrals and increases to overdraft limits through their existing relationship managers.

All corporate credit card limits will automatically receive an immediate 10% limit increase. Al Salam Bank said it dedicated task force will continue to closely monitor the latest developments as well as potential avenues of support for customers during this time. For inquiries or assistance, the customer care centre number is (+973) 17 005500 and website is www. alsalambahrain.com.