Latest news with #KhaleejiBank
Biz Bahrain
4 days ago
- Business
- Biz Bahrain
Khaleeji Bank Launches its New Summer Campaign for Credit Cardholders
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of its new promotional campaign for its credit cardholders this summer. The campaign offers clients the chance to enjoy an amazing summer holiday with rewarding cashback opportunities and cash prizes up to BD 3,000, in addition to a host of exclusive and premium benefits for all Khaleeji credit cardholders. The campaign runs from 1st June until 31st August 2025, granting one winner the chance to win a cashback of up to BD 3,000 when spending BD 500 or more during the campaign. Additionally, four other winners will have opportunities to win cashback of up to BD 500 each, provided they spend any amounts using Khaleeji's credit cards for summer travel expenses, booking airline tickets, hotel stays, shopping, and all other international transactions while travelling abroad during the summer holidays. In addition to this exceptional offer, clients will enjoy a range of other exclusive benefits when transferring their outstanding credit card balances to Khaleeji. These benefits include a free three-month grace period, no down payment or minimum payment required, as well as the opportunity to earn up to 3% cashback. This includes 3% cashback on foreign currency expenditure, 2% on subscription services, and 1% at all other merchants. On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, commented 'At Khaleeji Bank, we are always keen to enhance our valued clients' experience throughout the year, responding to their aspirations and providing added value by offering the best banking initiatives and services. In this regard, we are pleased to announce the launch of our credit card campaign for the 2025 summer season, through which we aim to make Khaleeji cards the first choice for our clients during their travels, enabling them to enjoy a fun and rewarding summer holiday.' She continued 'This new promotional campaign reflects Khaleeji's ongoing commitment to providing banking solutions tailored to our clients' needs all year round, encouraging them to maximise the benefits of their Khaleeji credit cards. I would like to take this opportunity to urge our valued clients to take advantage of this outstanding campaign, which includes exceptional opportunities for cashback and prizes of up to BD 3,000, as well as many other exclusive benefits and offers when transferring their outstanding credit card balances to Khaleeji. These benefits include a free three-month grace period, with no down payment and no minimum payment required, as well as the opportunity to earn up to 3% cashback. What sets the Khaleeji credit cards apart from others is that they are the only cards that allow clients to benefit from cashback in addition to earning Gulf Air miles, simultaneously. We wish all clients the best of luck and a wonderful summer using their Khaleeji credit cards during the holidays.' Khaleeji is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Zawya
4 days ago
- Business
- Zawya
Khaleeji Bank launches its new summer campaign for credit cardholders
Manama, Bahrain – Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of its new promotional campaign for its credit cardholders this summer. The campaign offers clients the chance to enjoy an amazing summer holiday with rewarding cashback opportunities and cash prizes up to BD 3,000, in addition to a host of exclusive and premium benefits for all Khaleeji credit cardholders. The campaign runs from 1st June until 31st August 2025, granting one winner the chance to win a cashback of up to BD 3,000 when spending BD 500 or more during the campaign. Additionally, four other winners will have opportunities to win cashback of up to BD 500 each, provided they spend any amounts using Khaleeji's credit cards for summer travel expenses, booking airline tickets, hotel stays, shopping, and all other international transactions while travelling abroad during the summer holidays. In addition to this exceptional offer, clients will enjoy a range of other exclusive benefits when transferring their outstanding credit card balances to Khaleeji. These benefits include a free three-month grace period, no down payment or minimum payment required, as well as the opportunity to earn up to 3% cashback. This includes 3% cashback on foreign currency expenditure, 2% on subscription services, and 1% at all other merchants. On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, commented 'At Khaleeji Bank, we are always keen to enhance our valued clients' experience throughout the year, responding to their aspirations and providing added value by offering the best banking initiatives and services. In this regard, we are pleased to announce the launch of our credit card campaign for the 2025 summer season, through which we aim to make Khaleeji cards the first choice for our clients during their travels, enabling them to enjoy a fun and rewarding summer holiday.' She continued 'This new promotional campaign reflects Khaleeji's ongoing commitment to providing banking solutions tailored to our clients' needs all year round, encouraging them to maximise the benefits of their Khaleeji credit cards. I would like to take this opportunity to urge our valued clients to take advantage of this outstanding campaign, which includes exceptional opportunities for cashback and prizes of up to BD 3,000, as well as many other exclusive benefits and offers when transferring their outstanding credit card balances to Khaleeji. These benefits include a free three-month grace period, with no down payment and no minimum payment required, as well as the opportunity to earn up to 3% cashback. What sets the Khaleeji credit cards apart from others is that they are the only cards that allow clients to benefit from cashback in addition to earning Gulf Air miles, simultaneously. We wish all clients the best of luck and a wonderful summer using their Khaleeji credit cards during the holidays.' Khaleeji is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Biz Bahrain
6 days ago
- Business
- Biz Bahrain
Khaleeji Bank Wins IBMAG's Best Banking Product Award in the Kingdom for Bahrain in 2025 for the ‘Salary Account'
Khaleeji Bank, one of the leading Islamic Banks in Bahrain, has recently received the Best Banking Product Award in the Kingdom of Bahrain for 2025 for its 'Salary Account', as part of the prestigious annual International Business Awards presented by International Business Magazine (IBMAG), which is recognised worldwide. Khaleeji receiving this new prestigious award for its distinguished banking product, the 'Salary Account', continues its ongoing successes and numerous regional and international awards in recent years. These accolades reflect and crown its diligent and continuous efforts in serving clients and providing the best and highest quality banking products & services that meet their aspirations. This recognition also serves as further proof of the 'Salary Account's' excellence, which provides clients with the best comprehensive banking experience in compliance with the principles of Islamic Shari'a. The account offers exclusive benefits such as the ability to transfer a person's monthly salary to this account, with an Expected Profit Rate of up to 4% of the salary amount without a minimum balance. Additionally, clients are also entered into monthly raffles with a chance to win one of five cash prizes totalling BD 5,000 each month. They can also obtain one of Khaleeji's premium credit cards, either Platinum or Infinite, which offer numerous benefits including cashback, free travel miles, exclusive discounts and many other advantages. On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, expressed her happiness and pride in winning this prestigious award, stating 'We are very proud to win the Best Banking Product Award in the Kingdom of Bahrain for 2025 for the 'Salary Account' from IBMAG. Undoubtedly, our continuous collection of awards and international recognitions affirms our leadership as one of the leading Islamic Banks in Bahrain. This new award highlights our excellence and success in providing the highest quality and most innovative banking products & services to our valued clients, including the 'Salary Account' which features numerous exclusive benefits and offers clients a unique and rewarding banking experience. We greatly value the trust of our loyal clients, and winning this award motivates us to continue delivering excellent services, and to develop and enhance all our banking offerings to better meet their diverse needs and aspirations.' Ms. Al Abbasi further added 'The 'Salary Account' from Khaleeji Bank offers a range of exclusive benefits tailored to our clients' needs. Clients can benefit from an Expected Profit Rate of up to 4% of the salary value without a minimum balance, participate in monthly raffles with a chance to win one of five prizes totalling BD 5,000 each month, and obtain one of Khaleeji's credit cards from the Platinum or Infinite tiers, which provide benefits such as cashback, free travel miles, and exclusive discounts with over 100 commercial outlets, adding value to our clients' banking experience. This reflects our commitment to delivering the best banking services and ensuring clients satisfaction at all times. As we share in our clients' joy of winning this valuable award, we take this opportunity to invite all citizens and residents of the Kingdom of Bahrain to transfer their salaries to the 'Salary Account' with Khaleeji Bank to enjoy the many exclusive and exceptional benefits this account offers, which will add a new dimension to their banking experience, along with opportunities to earn profits and win monthly cash prizes.' Khaleeji is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Biz Bahrain
12-05-2025
- Business
- Biz Bahrain
Khaleeji Bank Announces 7.81% Increase in Net Profit Attributable to Shareholders for Q1 2025 and Appoints Mr. Yousif Taqi as Chairman of the Board, Succeeding Alrayes
Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain B.S.C. (Trading Code: KHALEEJI), announced its financial results for the period ended 31st March 2025. The Bank achieved a net profit attributable to shareholders of BD 3.243 million, compared to BD 3.008 million in the first quarter of 2024, an increase of 7.81%. Earnings per share for the period ended 31st March 2025 decreased to 3.00 fils, compared to 3.69 fils for the first quarter of last year. Total income increased to BD 15.056 million, compared to BD 12.902 million in the first quarter of 2024, an increase of 16.70%. Total comprehensive income attributable to the shareholders of the parent company increased to BD 3.466 million, compared to BD 2.925 million for the period ended 31st March 2024, an increase of 18.50%. This increase is mainly attributable to an increase in income from financing contracts and a decrease in financing expenses during the first quarter of 2025. Total assets for the same period decreased slightly by 2.91% to reach BD 1.452.65 million as at 31st March 2025, compared to BD 1.496.13 million for the period ended 31st December 2024. Sukuk investments decreased by 9.01% to reach BD 456.91 million compared to BD 502.14 million as at 31st December 2024, while financing contracts increased to BD 764.54 million compared to BHD 721.17 million as of 31st December 2024. Total equity attributable to the shareholders of the parent company for the period ended 31st March 2025 decreased by 2.12% to reach BD 125.35 million, compared to BD 128.06 million as at 31st December 2024. In a related context, Khaleeji Bank announced the appointment of Mr. Yousif Taqi as the new Chairman of the Board of Directors, succeeding Mr. Hisham Alrayes, who has chosen to focus on GFH Financial Group. Mr Taqi's appointment comes following his nomination by GFH Financial Group and his extensive experience of over 35 years in Bahrain's banking sector, during which he has held several leadership positions at leading financial institutions in the Kingdom. He holds a Bachelor's degree in Accounting (1990) from Husson University, USA, and is a Certified Public Accountant. On this occasion, Mr. Hisham Alrayes, Chairman of Khaleeji Bank, welcomed the appointment of Mr. Yousif Taqi as the new Chairman of the Board, praising his extensive expertise in Islamic banking and expressing full confidence in his ability to lead the bank into the next phase of implementing its new strategic growth objectives. He also emphasised that Mr Taqi's experience, vision and strong relationships within the banking sector, both locally and regionally, will be key drivers of growth and development for the bank in the coming period. He continued: 'My decision to step down as Chairman of Khaleeji Bank aims to allow me to focus more fully on my responsibilities at GFH Financial Group and continue to drive its growth and shareholder aspirations. The five years I spent chairing Khaleeji Bank were filled with both challenges and opportunities, during which the bank achieved many important milestones, most notably the launch of its new corporate identity in 2023, as well as strengthening the bank's foundations and developing renewed strategies aligned with the rapid changes in the banking sector and clients' needs. We focused during this period on providing innovative and advanced banking solutions tailored for the digital era, which contributed to reinforcing the bank's position as a leading financial institution capable of keeping pace with future developments. I extend my sincere thanks to all members of the Board and the team for their support and cooperation, which played a significant role in these successes. I wish Mr Yousif Taqi every success in leading the bank to further growth and prosperity.' Commenting on the financial results, Mr Alrayes said: 'We are delighted to announce these strong financial results for Khaleeji Bank's operations during the first quarter of 2025, which reflect our ongoing efforts to achieve our strategic goals and deliver the best services to our valued customers. These promising results mark a positive start, reinforcing confidence in our growth and positively impacting the group's market value.' He added: 'The positive results achieved in the first quarter provide further motivation to maintain this positive momentum and continue on an upward trajectory for further growth during the remainder of the year. Our aim is to achieve greater accomplishments to meet the aspirations of our shareholders and valued customers, and to contribute effectively to the comprehensive development journey witnessed by the Kingdom of Bahrain under the prosperous reign of His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, and in alignment with the diligent efforts of the government led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to further elevate the banking sector.' For his part, Mr Yousif Taqi, the new Chairman of Khaleeji Bank, expressed his deep gratitude and appreciation to the former Chairman, Mr Hisham Al Rayes, for his sincere efforts during his tenure and for his trust and continuous support. He also thanked GFH Financial Group for their valued confidence, affirming his commitment to working diligently to achieve the bank's vision and strategic objectives, adding that he looks forward to building on the past years' achievements to continue the journey of growth and progress, strengthening the bank's position in the sector, and emphasised his keenness to work closely with the team and Board of Directors to support Khaleeji Bank's growth and prosperity. Mr. Taqi added: 'I am honoured and delighted to be chosen as Chairman of Khaleeji Bank at this important stage of the bank's journey. I look forward to building on its achievements, and working with fellow Board members and the executive management to develop innovative strategies that enhance the bank's position in the sector and meet the aspirations of our valued customers. Our goal is to achieve sustainable growth and enhance value for our shareholders, and we are confident that we can achieve this through dedicated teamwork.' Mr Sattam Algosaibi, CEO of Khaleeji Bank, said: 'We are pleased to welcome Mr Yousif Taqi in his new role as Chairman of Khaleeji Bank, given his exceptional track record in the Islamic banking sector. We are confident that his leadership will be a significant asset in supporting our ambitious growth and expansion strategies. The bank's plans in the next phase are firmly focused on digitising services and adopting the latest banking technologies, requiring forward-looking leadership and a culture of innovation at all levels. We are certain that Mr. Taqi's expertise will be a solid foundation supporting this vision and strengthening the bank's leadership in this area.' Commenting on the financial results, Mr. Algosaibi said: 'The financial results for Q1 2025 demonstrate the continued success of the bank's robust business model and effective strategy, with a focus on financial discipline, improving income, and driving sustainable growth to enhance profitability. This was reflected in the growth of net profit attributable to shareholders by 7.81% to BHD 3.243 million, compared to BHD 3.008 million in Q1 2024. We also achieved an increase in financing contracts revenue, contributing to growth in both total and comprehensive income attributable to the parent company's shareholders. These positive results embody our commitment to delivering positive returns and profits for our esteemed shareholders.' He added: 'These positive results achieved by Khaleeji Bank in the first quarter, most notably the increase in net profit, coincide with the ongoing launch of many innovative banking initiatives, services, and products to enhance the customer experience. Among the most important of these is the launch of the new edition of the 'Al Waffer Account', with total prizes this year exceeding USD 4 million, and the introduction of a new category, 'Ajyal Al Waffer', dedicated to young depositors under 21. We also continued to offer more exclusive real estate financing offers, most recently the launch of the new 'Tashil+' programme as part of the Ministry of Housing and Urban Planning and Eskan Bank's plan to expand financing options and housing solutions for citizens. We have ensured to provide unique, exclusive financing offers as part of our ongoing support for all initiatives aimed at providing innovative, accessible housing solutions for citizens. This is alongside the continued launch of many innovative promotional campaigns, from the Ramadan purchases campaign to, most recently, Khaleeji Bank's interactive platform at City Centre Bahrain, which enjoyed great success and turnout.' Khaleeji Bank is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Zawya
12-05-2025
- Business
- Zawya
Khaleeji Bank announces 7.81% increase in net profit attributable to shareholders for Q1 2025
Manama, the Kingdom of Bahrain: Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain B.S.C. (Trading Code: KHALEEJI), announced its financial results for the period ended 31st March 2025. The Bank achieved a net profit attributable to shareholders of BD 3.243 million, compared to BD 3.008 million in the first quarter of 2024, an increase of 7.81%. Earnings per share for the period ended 31st March 2025 decreased to 3.00 fils, compared to 3.69 fils for the first quarter of last year. Total income increased to BD 15.056 million, compared to BD 12.902 million in the first quarter of 2024, an increase of 16.70%. Total comprehensive income attributable to the shareholders of the parent company increased to BD 3.466 million, compared to BD 2.925 million for the period ended 31st March 2024, an increase of 18.50%. This increase is mainly attributable to an increase in income from financing contracts and a decrease in financing expenses during the first quarter of 2025. Total assets for the same period decreased slightly by 2.91% to reach BD 1.452.65 million as at 31st March 2025, compared to BD 1.496.13 million for the period ended 31st December 2024. Sukuk investments decreased by 9.01% to reach BD 456.91 million compared to BD 502.14 million as at 31st December 2024, while financing contracts increased to BD 764.54 million compared to BHD 721.17 million as of 31st December 2024. Total equity attributable to the shareholders of the parent company for the period ended 31st March 2025 decreased by 2.12% to reach BD 125.35 million, compared to BD 128.06 million as at 31st December 2024. In a related context, Khaleeji Bank announced the appointment of Mr. Yousif Taqi as the new Chairman of the Board of Directors, succeeding Mr. Hisham Alrayes, who has chosen to focus on GFH Financial Group. Mr Taqi's appointment comes following his nomination by GFH Financial Group and his extensive experience of over 35 years in Bahrain's banking sector, during which he has held several leadership positions at leading financial institutions in the Kingdom. He holds a Bachelor's degree in Accounting (1990) from Husson University, USA, and is a Certified Public Accountant. On this occasion, Mr. Hisham Alrayes, Chairman of Khaleeji Bank, welcomed the appointment of Mr. Yousif Taqi as the new Chairman of the Board, praising his extensive expertise in Islamic banking and expressing full confidence in his ability to lead the bank into the next phase of implementing its new strategic growth objectives. He also emphasised that Mr Taqi's experience, vision and strong relationships within the banking sector, both locally and regionally, will be key drivers of growth and development for the bank in the coming period. He continued: 'My decision to step down as Chairman of Khaleeji Bank aims to allow me to focus more fully on my responsibilities at GFH Financial Group and continue to drive its growth and shareholder aspirations. The five years I spent chairing Khaleeji Bank were filled with both challenges and opportunities, during which the bank achieved many important milestones, most notably the launch of its new corporate identity in 2023, as well as strengthening the bank's foundations and developing renewed strategies aligned with the rapid changes in the banking sector and clients' needs. We focused during this period on providing innovative and advanced banking solutions tailored for the digital era, which contributed to reinforcing the bank's position as a leading financial institution capable of keeping pace with future developments. I extend my sincere thanks to all members of the Board and the team for their support and cooperation, which played a significant role in these successes. I wish Mr Yousif Taqi every success in leading the bank to further growth and prosperity.' Commenting on the financial results, Mr Alrayes said: 'We are delighted to announce these strong financial results for Khaleeji Bank's operations during the first quarter of 2025, which reflect our ongoing efforts to achieve our strategic goals and deliver the best services to our valued customers. These promising results mark a positive start, reinforcing confidence in our growth and positively impacting the group's market value.' He added: 'The positive results achieved in the first quarter provide further motivation to maintain this positive momentum and continue on an upward trajectory for further growth during the remainder of the year. Our aim is to achieve greater accomplishments to meet the aspirations of our shareholders and valued customers, and to contribute effectively to the comprehensive development journey witnessed by the Kingdom of Bahrain under the prosperous reign of His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, and in alignment with the diligent efforts of the government led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to further elevate the banking sector.' For his part, Mr Yousif Taqi, the new Chairman of Khaleeji Bank, expressed his deep gratitude and appreciation to the former Chairman, Mr Hisham Al Rayes, for his sincere efforts during his tenure and for his trust and continuous support. He also thanked GFH Financial Group for their valued confidence, affirming his commitment to working diligently to achieve the bank's vision and strategic objectives, adding that he looks forward to building on the past years' achievements to continue the journey of growth and progress, strengthening the bank's position in the sector, and emphasised his keenness to work closely with the team and Board of Directors to support Khaleeji Bank's growth and prosperity. Mr. Taqi added: 'I am honoured and delighted to be chosen as Chairman of Khaleeji Bank at this important stage of the bank's journey. I look forward to building on its achievements, and working with fellow Board members and the executive management to develop innovative strategies that enhance the bank's position in the sector and meet the aspirations of our valued customers. Our goal is to achieve sustainable growth and enhance value for our shareholders, and we are confident that we can achieve this through dedicated teamwork.' Mr Sattam Algosaibi, CEO of Khaleeji Bank, said: 'We are pleased to welcome Mr Yousif Taqi in his new role as Chairman of Khaleeji Bank, given his exceptional track record in the Islamic banking sector. We are confident that his leadership will be a significant asset in supporting our ambitious growth and expansion strategies. The bank's plans in the next phase are firmly focused on digitising services and adopting the latest banking technologies, requiring forward-looking leadership and a culture of innovation at all levels. We are certain that Mr. Taqi's expertise will be a solid foundation supporting this vision and strengthening the bank's leadership in this area.' Commenting on the financial results, Mr. Algosaibi said: 'The financial results for Q1 2025 demonstrate the continued success of the bank's robust business model and effective strategy, with a focus on financial discipline, improving income, and driving sustainable growth to enhance profitability. This was reflected in the growth of net profit attributable to shareholders by 7.81% to BHD 3.243 million, compared to BHD 3.008 million in Q1 2024. We also achieved an increase in financing contracts revenue, contributing to growth in both total and comprehensive income attributable to the parent company's shareholders. These positive results embody our commitment to delivering positive returns and profits for our esteemed shareholders.' He added: 'These positive results achieved by Khaleeji Bank in the first quarter, most notably the increase in net profit, coincide with the ongoing launch of many innovative banking initiatives, services, and products to enhance the customer experience. Among the most important of these is the launch of the new edition of the 'Al Waffer Account', with total prizes this year exceeding USD 4 million, and the introduction of a new category, 'Ajyal Al Waffer', dedicated to young depositors under 21. We also continued to offer more exclusive real estate financing offers, most recently the launch of the new 'Tashil+' programme as part of the Ministry of Housing and Urban Planning and Eskan Bank's plan to expand financing options and housing solutions for citizens. We have ensured to provide unique, exclusive financing offers as part of our ongoing support for all initiatives aimed at providing innovative, accessible housing solutions for citizens. This is alongside the continued launch of many innovative promotional campaigns, from the Ramadan purchases campaign to, most recently, Khaleeji Bank's interactive platform at City Centre Bahrain, which enjoyed great success and turnout.' Khaleeji Bank is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies. The full financial results and press release are available on Bahrain Bourse website
