Al Salam Bank Waives All Financing Fees For Customers Vaccinated Against Covid -19

Press release
Published March 3rd, 2021 - 10:51 GMT

Al Salam Bank Waives All Financing Fees For Customers Vaccinated Against Covid -19
Mohammed Buhijji Head of Retail Banking Al Salam Bank
Highlights
Al Salam Bank recently launched its latest campaign, the Al Salam Initiative, in support of the Kingdom’s national efforts to mitigate the spread of the ongoing global COVID-19 pandemic by promoting vaccination.

Al Salam Bank recently launched its latest campaign, the Al Salam Initiative, in support of the Kingdom’s national efforts to mitigate the spread of the ongoing global COVID-19 pandemic by promoting vaccination. As part of the campaign, all customers who have been vaccinated against COVID-19 have the opportunity to avail any of the financing solutions without paying for the administrative fees, including personal and property financing facilities as well as the Mazaya social housing program.

The launch of the Al Salam Initiative comes in line with the Bank’s ongoing commitment to raise community awareness on the importance of getting vaccinated and to highlight its vital role in combating the spread of COVID-19 across the Kingdom of Bahrain.  

Speaking on the initiative, Head of Retail Banking, Mr. Mohammed Buhijji said, “We are proud to launch the Al Salam Initiative, which aims to encourage all eligible members of the Bahraini community to take the vaccine against COVID-19, as a crucial step towards protecting themselves as individuals as well as the greater community. Granting a waiver of administrative fees on all financing facilities to all our customers who have been vaccinated, is a reflection of our ongoing support to the public during the current circumstances.”

In addition to the waiver of administrative fees on financing facilities, customers will also be able to take advantage of the special financing offer ending on May 15th 2021- from which customers receive competitive profit rates and a grace period of up to 1 year. As part of the campaign, 10 lucky winners will win back up to 6 months’ worth of installments.

To be exempted from any administrative fees, customers can use either the official medical certificate or the ‘Be Aware’ application on their smartphones as confirmation of being vaccinated against COVID-19.

Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.

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