Bahrain bank acquires subsidiary

Reported by: |Updated: May 17, 2017

Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the kingdom, said it has successfully taken over the entire business of its subsidiary BMI Bank. BMI Bank has transferred all its business, including all its assets and liabilities to ASBB.  Yousif Taqi, director and group CEO, said this is another milestone that is part of the bank’s strategy and in line with its continued commitment to enhance the shareholder’s value. BMI Bank Customers can now 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.