21 Aug 2016
MANAMA, BAHRAIN – 21 August 2016 – In the presence of Central Bank of Bahrain (CBB) executives, Ithmaar Bank (ed note: 21/08/16) hosted a formal ceremony to officially inaugurate its newest branch in Galali.
Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, said that the Galali branch, the Bank’s fourth full-service branch in Muharraq and its eighteenth in Bahrain, contributes directly to the Kingdom’s flourishing banking and finance industry. He also emphasized the Bank’s commitment to serving Bahrain residents in new and developing neighborhoods.
“The new Ithmaar Bank branch is in a relatively new and very fast-developing area, with major real estate developments including Amwaj, Dilmunia and Diyar Al Muharraq quickly coming online,” said Abdul Rahim following the inauguration. “This is in addition, of course, to the fast-growing Galali neighborhood which is now almost a full city in its own right, as well as the expanding Samaheej, Dair and Hidd neighborhoods nearby,” he said.
“This continuous growth and development is testimony to the Kingdom’s vibrant economy, and a positive reflection of our banking and finance industry,” said Abdul Rahim. “We are pleased to be actively participating in and effectively contributing towards this positive growth,” he said.
The new branch gives Ithmaar Bank the widest branch network of any Islamic bank and the third largest of any bank in Bahrain.
The inauguration ceremony was also attended by CBB Executive Director of Banking Supervision Khalid Hamad, CBB Acting Director – Islamic Financial Institutions Supervision Directorate, Fahad Yateem, Ithmaar Bank Chief Operating Officer, Ravindra Khot and Assistant General Manager, Retail Banking, Mohammed Janahi and other Ithmaar Bank officials.
“Ithmaar Bank is committed to working with the CBB to continuously developing Bahrain’s Islamic banking industry and reinforcing the Kingdom’s already prominent position as one the region’s key banking hubs,” said Janahi. “We are equally committed to becoming the Islamic retail bank of choice among the people of Bahrain. We do so by listening carefully to our customers and continuously enhancing their Islamic banking experience by developing our products and services as well as our delivery channels,” he said.
“This latest branch is an example of how seriously we take these commitments,” said Janahi. “The Galali branch was commissioned in direct response to customer demands, and its inauguration adds to Bahrain’s large, well-developed and well-regulated retail banking network, while also serving residents in Muharraq’s newest neighborhood,” he said.
The Galali branch timings are from Saturday to Wednesday 7:30 am to 1:00pm; and 4:00 pm to 6:00 pm on Saturdays, Mondays, and Wednesdays.