The new service uses secure Near Field Communication (NFC) tags to eliminate the need for cash or cards by allowing customers to shop simply by tapping their mobile phones at the checkout counters of participating merchants. “A wholly-owned subsidiary of Ithmaar Holding, Ithmaar Bank is a growing, resilient bank that continues to invest in the future and plays a key role in the community. MANAMA, BAHRAIN – 30 April 2017– Ithmaar Bank B.S.C. Ithmaar Bank B.S.C., a Bahrain-based Islamic retail bank, announced today (ed note: 020116) that it has obtained final approval from the Central Bank of Bahrain (CBB), the Kingdom’s banking and financial services regulator on the completion of all requirements with respect to the reorganisation plan. Abdul Rahim thanked the organisers and attributed the Bank’s long-standing commitment to the community, as well as its growing success, to the Grace of God, then to the support and guidance of the Ithmaar Bank Board of Directors, led by the Chairman His Royal Highness Prince Amr Al Faisal, as well as to the contributions of the Executive Management team and all the Bank’s employees. The Net profit attributable to equity holders of the Bank for the first quarter of 2017 was BHD1.14 million. Every year since its launch almost six years ago, Thimaar has been revised to include new prize schemes and, during 2016, Ithmaar Bank distributed 4,000 prizes totalling US$2.3 million. Every BD30 maintained as an average daily balance qualifies a customer to enter the draws. At the meeting, shareholders praised the transformation witnessed in 2016 with the successful completion of a major reorganisation as well as a complete turnaround in Ithmaar’s financial performance. MANAMA: Bank of Bahrain and Kuwait (BBK) and Ithmaar Holding, the parent of Ithmaar Bank, yesterday signed a memorandum of understanding (MoU) on the potential acquisition by BBK of Ithmaar …
This is, mainly, a result of the 75 new Islamic retail branches that were opened by Faysal Bank Limited in Pakistan last year,” he said. “Batelco has continuously embedded innovation as a central to its strategy with the aim of delivering first class customer experience. He is an IRCA certified Information Security Management System (ISMS) Auditor, ISO27001, Bureau VERITAS; is a Certified Islamic Banker (CIB) from the General Council for Islamic Banks and Financial Institutions, Bahrain, and a member of the Association of Chartered Certified Accountants (ACCA), United Kingdom. MANAMA, BAHRAIN – 19 June 2017 – Ithmaar Bank, a Bahrain-based Islamic retail bank, hosted a series of security awareness sessions for office attendants and security guards to help reduce the risks of any gaps in the Bank’s security or the confidentiality of its documents. Arab Financial Services CEO B Chandrasekhar commented, “AFS has been a leader in providing innovative payment services in MENA region for over three decades. At the meeting, Sheikh Zamil extended, on behalf of the Board and the Executive Management team, sincere thanks and appreciation to the Central Bank of Bahrain, the Ministry of Industry, Commerce and Tourism, the Bahrain Bourse and Boursa Kuwait for their outstanding support which has led to the completion of the two-year long reorganisation project successfully and on time. In the interim, the current website will continue to function without any changes until it is enhanced in due course without impacting our services.