Ithmaar Bank BSC (closed)

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Ithmaar Bank BSC (closed)

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About Ithmaar Bank:

Ithmaar Bank B.S.C. (closed) (“Ithmaar Bank”) is a Bahrain-based Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain and provides retail, commercial, treasury & financial institutions and other banking services.

Ithmaar Bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. (formerly named Ithmaar Bank B.S.C.) which is listed on the Bahrain Bourse and Boursa Kuwait. 

Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs of individuals and institutions. Ithmaar also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan).

www.ithmaarbank.com 

PRODUCT & SERVICES

Ithmaar Holding and its wholly-owned subsidiary, Ithmaar Bank, report profit

The announcement by the Ithmaar Holding Chairman His Royal Highness Prince Amr Al Faisal who is also the Ithmaar Bank Chairman follows the review and approval of both Board of Directors of the consolidated financial results for the nine-month period ended 30 September 2018 . Ithmaar Holding reported a net profit of US 11.34 million for the nine-month period ended 30 September 2018 as compared to a... View more

Ithmaar Bank celebrates employees’ success, highlights the importance and commitment to team spirit

Speaking at the Ithmaar Bank Annual Staff gathering which was this year hosted at the Ritz Carlton Hotel Chief Executive Officer Ahmed Abdul Rahim paid rich tribute to employees thanking them for their contributions both to the Bank and by extension to the national economy. Together we are each contributing directly and in an important way to Bahrain s success as a regional banking and financial s... View more

Cityview project formally inaugurated, apartment handover begins

Speaking at the inauguration ceremony Cityview Chairman Abdulhakeem Al Mutawa said he is pleased that despite the many complex challenges the project was successfully completed. The Cityview project a residential tower in the Seef District near Dana Mall was put on hold in 2011 due to circumstances beyond anyone s control. The Project s completion makes it the only project of its kind in Bahrain t... View more

Ithmaar Group hosts Corporate Governance training for its Board of Directors and Executive Management

Ithmaar Group which includes Ithmaar Holding and its two wholly-owned subsidiaries Ithmaar Bank a Bahrain-based Islamic retail Bank and IB Capital a Bahrain-based Islamic Investment firm hosted a Board Evaluation training session for members of its Board of Directors and its Executive Management team. The training session which was delivered by a trainer from the Bahrain Institute for Banking and ... View more

Ithmaar Bank nurtures future leaders in banking and finance through its summer internship programme

Ithmaar Bank a Bahrain-based Islamic retail bank concluded its annual summer internship programme with thirty-two undergraduate students from various local and international universities participating in this year s programme. The two-month programme included an induction session that covered various training sessions such as information security anti-money laundering and the basics of Islamic ban... View more

Cityview construction successfully completed

The Cityview project a residential tower in the Seef District across the road from Dana Mall was put on hold in 2011 due to circumstances beyond anyone s control. The announcement of the Project s completion makes it the only project of its kind in Bahrain to be resolved internally without external intervention after Ithmaar Bank one of the shareholders provided the necessary financing. Ithmaar Ho... View more

Ithmaar Holding and its wholly-owned subsidiary, Ithmaar Bank, report half-year profits

The announcement by the Ithmaar Holding Chairman His Royal Highness Prince Amr Al Faisal who is also the Ithmaar Bank Chairman follows the review and approval of both Board of Directors of the consolidated financial results for the six-month period ended 30 June 2018 . Ithmaar Holding reported a net profit of US 10.82 million for the six-month period ended 30 June 2018 as compared to a net loss of... View more

Ithmaar Bank Offers Cardholders Discounted Rates on Gulf Air flights

MANAMA BAHRAIN 22 July 2018 : Ithmaar Bank a Bahrain-based Islamic retail bank has renewed an agreement with the Kingdom s national carrier Gulf Air granting the Bank s credit card and debit cardholders exclusive discounts on flights purchased on the official Gulf Air website gulfair.com until 31 March 2019. The offer is applicable to all Gulf Air s online fares for both Falcon Gold (business clas... View more

Ithmaar Bank Customer Wins US$250,000

MANAMA BAHRAIN 17 July 2018 Jaber Shamsaldin a Bahraini father of three took home a US 250 000 cash prize after becoming the latest winner of a Thimaar grand prize from Ithmaar Bank a Bahrain-based Islamic retail bank. Thimar a prize-based savings account rewards Ithmaar Bank customers who save using the account with a chance to win up to 4 015 prizes totalling US 3 170 000 throughout the year. Th... View more

Specialised training for Ithmaar Group Board of Directors and Executive Management

Specialised training for Ithmaar Group Board of Directors and Executive Management MANAMA BAHRAIN 9 July 2018 - Ithmaar Group which includes Ithmaar Holding and its two wholly-owned subsidiaries Ithmaar Bank a Bahrain-based Islamic retail Bank and IB Capital a Bahrain-based Islamic Investment firm commissioned KPMG and the Bahrain Institute of Banking and Finance (BIBF) to deliver two interactive ... View more

Ithmaar Bank renews its PCI-DSS certification

MANAMA BAHRAIN 3 July 2018 Ithmaar Bank a Bahrain-based Islamic retail bank announced that SISA Information Security the Middle East region s leading security assessor has renewed its certification of the Bank to confirm the highest payment security standard possible for any organisation dealing with payment card related information. The announcement follows Ithmaar Bank s successful completion of... View more

Ithmaar Bank’s retail banking subsidiary in Pakistan, Faysal Bank Limited, reports continued profits

MANAMA BAHRAIN 11 June 2018 Ithmaar Bank a Bahrain-based Islamic retail bank announced today (ed note: 11/06/18) that its retail banking subsidiary in Pakistan Faysal Bank Limited (FBL) has made steady progress over the years and is now recognised as a major player in the financial industry of Pakistan. Ithmaar Bank owns 66.6 per cent of FBL which is listed on the Pakistan Stock Exchange and is ma... View more

Bahraini family wins life changing $250,000 Thimaar prize

MANAMA BAHRAIN 21 May 2018 Ithmaar Bank a Bahrain-based Islamic retail bank presented US 250 000 the first Thimaar grand prize for the year 2018 to Nawal Yousif Abdulghani a retired Bahraini national . The prize was presented by Ithmaar Bank Chief Executive Officer Ahmed Abdul Rahim at a ceremony held at the Bank s headquarters in the Seef District which was attended by the winner s husband on her... View more

Ithmaar Bank launches its new state-of-art eBanking service

MANAMA BAHRAIN 13 May 2018 As part of its digital transformation strategy Ithmaar Bank a Bahrain-based Islamic retail Bank launched its new state-of-the-art eBanking service today (ed note: 13/05/18) which offers customers a faster friendlier and more secure online banking experience. In line with the Bank s customer-centric approach and commitment to continuously enhance its customer experience t... View more

Ithmaar Bank Pakistan subsidiary reports increased profits of US$40.8 million

MANAMA BAHRAIN 08 April 2018 - Ithmaar Bank a Bahrain-based Islamic retail bank announced today (ed note: 08/04/18) that its retail banking subsidiary in Pakistan Faysal Bank Limited (FBL) Annual General Meeting approved 2017 results with profits of US 40.8 million. Ithmaar Bank owns 66.6 percent of FBL which is listed on the Pakistan Stock Exchange and is mainly engaged in corporate commercial re... View more

Ithmaar Holding hosts annual shareholder meeting

MANAMA BAHRAIN 26 March 2018 Ithmaar Holding B.S.C. (formerly Ithmaar Bank BSC) Ithmaar the Group hosted today (ed note: 26/03/18) its Annual General Meeting (AGM) and the consolidated financial statements for 2017 were approved. The meeting was chaired by Ithmaar Chairman His Royal Highness Prince Amr Al Faisal and attended by members of the Ithmaar Board of Directors its executive management tea... View more

Ithmaar Bank reports 2017 profits

MANAMA BAHRAIN 27 February 2018 Ithmaar Bank B.S.C. (c) Ithmaar Bank the Bank a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 December 2017 was BHD1.58 million. The anno... View more

Ithmaar Holding reports 2017 financial results

MANAMA BAHRAIN 26 February 2018 Ithmaar Holding B.S.C. (formerly Ithmaar Bank BSC) Ithmaar the Group reported today (ed note: 26/02/18) a net loss of US 72.40 million for the year ended 31 December 2017 compared to a net profit of US 13.80 million reported for 2016. Net loss attributable to equity holders for the year ended 31 December 2017 was US 84.71 million compared to a net profit US 3.28 mil... View more

Bahraini family wins US$100,000 Thimaar prize

MANAMA BAHRAIN 11 January 2018 Ithmaar Bank a Bahrain-based Islamic retail bank presented a US 100 000 cash prize to Yusuf Abdulla Mohamed Al-Mahmood a retired Bahraini who won the Thimaar semi-annual grand prize. The prize was presented by Ithmaar Bank Deputy Chief Executive Officer Banking Group Abdulhakeem Al Mutawa at a ceremony held at the Bank s headquarters in Seef district and attended by ... View more

Specialized training for Ithmaar Group Board of Directors

MANAMA BAHRAIN 2 January 2018 - Ithmaar Group which includes Ithmaar Holding and its two wholly-owned subsidiaries Ithmaar Bank a Bahrain-based Islamic retail Bank and IB Capital a Bahrain-based Islamic Investment firm commissioned the Bahrain Institute of Banking and Finance (BIBF) to deliver an interactive training course for members of its Board of Directors. The course was delivered in two par... View more

Ithmaar Bank wins Best Innovation in Retail Banking and Best Islamic Bank of the Year awards

MANAMA BAHRAIN 18 December 2017 Ithmaar Bank a Bahrain-based Islamic retail bank received awards in two categories Best Innovation in Retail Banking (Bahrain) and Best Islamic Bank of the Year (Bahrain) at UK-based International Banker s 2017 Banking Awards. Standout institutions working within retail commercial investment and private banking in the Middle East and Africa compete for the prestigio... View more

Ithmaar Bank’s retail banking subsidiary in Pakistan, Faysal Bank Limited, reports net profit of US$36.3 million

MANAMA BAHRAIN 13 December 2017 Ithmaar Bank a Bahrain-based Islamic retail bank announced today (ed note: 13/12/17) that its retail banking subsidiary in Pakistan Faysal Bank Limited (FBL) has maintained growth momentum and reported increased net profits. Ithmaar Bank owns 66.6 percent of FBL which is listed on the Pakistan Stock Exchange and is mainly engaged in corporate commercial retail and c... View more

Ithmaar Bank launches Bahrain’s First Contactless World Mastercard Credit Card

MANAMA BAHRAIN 02 December 2017 Ithmaar Bank a Bahrain-based Islamic retail bank announced today (ed note: 02/12/17) the launch of a prestigious new Sharia-compliant contactless credit card with Mastercard a leading technology company in the global payments industry. The pioneering new Ithmaar Bank World credit card the country s first contactless offering is a result of the Bank s continuous comm... View more

Corporate Governance Workshop for Ithmaar Group Board

MANAMA BAHRAIN 19 November 2017 - Ithmaar Group which consists of Ithmaar Holding and its two wholly-owned subsidiaries Ithmaar Bank a Bahrain-based Islamic retail Bank; and IB Capital a Bahrain-based Islamic Investment firm commissioned the Bahrain Institute of Banking and Finance (BIBF) to deliver an interactive workshop for members of the Group s Board of Directors and Executive Management team... View more

Ithmaar Holding reports third quarter results

(Ithmaar) reported today (ed note: 13/11/17) a net loss of US 16.3 million for the nine-month period ended 30 September 2017 compared to a net profit of US 16.7 million for the same period last year. Net loss attributable to equity holders for the nine-month period ended 30 September 2017 was US 27million compared to a net profit of US 6.5 million reported for the same period last year. This inclu... View more

Ithmaar Bank Announces Deputy CEO Appointments

Ithmaar Bank a Bahrain-based Islamic retail Bank announced today (ed note: 07/11/17) the promotion of its two most senior executives to the post of Deputy Chief Executive and named Abdulhakeem Khalil Al Mutawa Deputy Chief Executive Officer Banking Group and Ravindra Anant Khot Deputy Chief Executive Officer Support Group. The announcement by the Ithmaar Group Chief Executive Officer Ahmed Abdul R... View more

Ithmaar Bank promotes two Bahraini executives, appoints another

MANAMA BAHRAIN 3 October 2017 - Ithmaar Bank a Bahrain-based Islamic retail Bank announced today (ed note: 03/10/17) the promotion of two key members of its management team and the appointment of a third. Abdulla Abdulaziz Ali Taleb was promoted to Assistant General Manager Head of the Commercial and Financial Institutions department; Ahmed Fareed Saud Buqais was promoted to Senior Manager and ass... View more

Ithmaar Bank concludes first of its kind summer camp programme

MANAMA BAHRAIN 26 September 2017 - Ithmaar Bank a Bahrain-based Islamic retail bank hosted a series of summer camps for children of various age groups in cooperation with INJAZ Bahrain a non-profit organization that aims to empower young people to own their economic success. As part of the summer camp programme a first of its kind for financial institutions in Bahrain children of Ithmaar Bank empl... View more

Ithmaar Bank branch staff train for customer excellence

With seventeen full-service branches in strategic locations across Bahrain Ithmaar Bank operates one of the largest retail banking networks in the Kingdom. The training sessions were conducted in line with the Bank s long-standing commitment to growing continuously closer to its customers. Ithmaar Bank is determined to become one of the region s premier Islamic retail banks said Ithmaar Bank Chief... View more

Ithmaar Bank’s retail banking subsidiary in Pakistan, Faysal Bank Limited, reports growing profits

MANAMA BAHRAIN 17 September 2017 Ithmaar Bank a Bahrain-based Islamic retail bank announced today (ed note: 17/09/17) that its retail banking subsidiary in Pakistan Faysal Bank Limited (FBL) has reported increased profits for the first half of 2017. Ithmaar Bank owns 66.6 percent of FBL which is listed on the Pakistan Stock Exchange and is mainly engaged in corporate commercial retail and consumer... View more

Ithmaar Bank, CEO win top CSR awards

Ithmaar Bank a Bahrain-based Islamic retail Bank was honoured at a regional conference for its continuous support of the community and presented with the Best Corporate Social Responsibility (CSR) Award for an Islamic Bank 2017. Ithmaar Bank chief executive officer Ahmed Abdul Rahim was also honoured at the event and presented with the Academic Excellence in CSR Award. The awards were presented to... View more

Ithmaar wins top payment security certification

Ithmaar Bank a Bahrain-based Islamic retail bank has earned a prestigious internationally-celebrated payment security certification that puts the bank on par with some of the best in the world. The Payment Card Industry Data Security Standard (PCI-DSS) certification was awarded to Ithmaar Bank by Sisa Information Security WLL a leading Qualified Security Assessor in the Middle East. The PCI-DSS is... View more

Ithmaar Bank staff attend anti-money laundering course

Ithmaar Bank a Bahrain-based Islamic retail bank recently organised a specialised training programme for employees involved in trade finance activities. The focused programme was arranged by the Ithmaar Bank Compliance and Anti-Money Laundering and the Human Resources departments as part of the bank s commitment to combatting money laundering said a statement. Employees from the Banking Operations... View more

Ithmaar honours staff over Islamic finance training

Ithmaar Bank a Bahrain-based Islamic retail bank recently honored 10 employees who earned professional certificates in Islamic finance from the Bahrain Institute of Banking and Finance (BIBF). The employees from various departments including Commercial and Financial Institutions Retail Banking Product Development and Management and Compliance & Anti Money Laundering had successfully completed prof... View more

Ithmaar Bank, Gulf Air renew deal for cardholders

July 22, 2018

Ithmaar Bank a Bahrain-based Islamic retail bank has renewed an agreement with the Kingdom s national carrier Gulf Air granting the bank s credit card and debit cardholders exclusive discounts on flig... View more

Ithmaar Bank launches eBanking service

May 13, 2018

Ithmaar Bank a Bahrain-based Islamic retail Bank has launched its new state-of-the-art eBanking service which offers customers a faster friendlier and more secure online banking experience. The revamp... View more

Ithmaar Bank names new deputy CEOs

November 7, 2017

Ithmaar Bank a Bahrain-based Islamic retail bank has announced the promotion of its two most senior executives to the post of deputy chief executive. The bank named Abdulhakeem Khalil Al Mutawa deputy... View more

Ithmaar Bank makes key appointments

October 4, 2017

Ithmaar Bank a leading Bahrain-based Islamic retail bank has announced the promotion of two key members of its management team and the appointment of a third. Abdulla Abdulaziz Ali Taleb was promoted ... View more

Ithmaar Bank, CEO win top CSR awards

August 6, 2017

Ithmaar Bank a Bahrain-based Islamic retail Bank was honoured at a regional conference for its continuous support of the community and presented with the Best Corporate Social Responsibility (CSR) Awa... View more

Ithmaar Bank staff attend anti-money laundering course

July 9, 2017

Ithmaar Bank a Bahrain-based Islamic retail bank recently organised a specialised training programme for employees involved in trade finance activities. The focused programme was arranged by the Ithma... View more

Ithmaar Bank announces key appointments

May 7, 2017

Ithmaar Bank a Bahrain-based Islamic retail bank announced today two key appointments to its executive management team and assigned new responsibilities to another senior executive. Yousif Alkhan pres... View more

Ithmaar Bank launches new services for customers with special needs

January 24, 2017

Ithmaar Bank a Bahrain-based Islamic retail bank has introduced additional new services at its main branch for customers with special needs. The new services which were introduced before the end of la... View more

Ithmaar Bank relocates branch in Bahrain

December 25, 2016

Ithmaar Bank a Bahrain-based Islamic retail bank has moved its Salmabad branch to new larger premises with better location including parking facilities. The new full-service branch in Salmabad is loca... View more

Ithmaar wins WIBC award for top Islamic bank

December 20, 2016

Ithmaar Bank a Bahrain-based Islamic retail bank was singled out among the world s Islamic banks for a prestigious international award in recognition of its corporate social responsibility and financi... View more

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