Al Salam Bank / Victoria

Al Salam Bank-Seychelles Limited (ASBS) is an Islamic Bank headquartered in Seychelles and is regulated and licensed by the Central Bank of Seychelles. As a subsidiary of Al Salam Bank-Bahrain (ASBB), a pioneering Shari’a-compliant bank in Bahrain, ASBS operates with a commitment to offering innovative and unique financial products and services that adhere to Islamic principles. This article delves into the bank's background, ownership structure, product offerings, expansion plans, corporate social responsibility, and its vision and mission.

Ownership Structure

ASBS is jointly owned by two prominent entities: Al Salam Bank-Bahrain (ASBB) and Seychelles Pension Fund. ASBB holds the majority share with a 70% ownership rate, while the Seychelles Pension Fund holds the remaining 30%. This ownership structure reflects the bank's connections to the region while also leveraging the local expertise and resources of Seychelles.

Shari'a-Compliant Financial Products and Services

ASBS is dedicated to providing its customers with a comprehensive range of world-class, innovative, and Shari’a-compliant financial products and services. This commitment stems from its goal to introduce cutting-edge technologies to the Seychelles' banking sector, ultimately enhancing the banking experience for its clientele.

Expansion Plans and Regional Presence

Building on its foundations in Seychelles, ASBS has a strategic vision for regional expansion. It plans to use Seychelles as a launching pad to penetrate neighboring countries' banking sectors. The bank aspires to create a bridge between the Gulf Cooperation Council countries and the Indian Ocean Rim countries, fostering increased economic collaboration and financial connectivity in the region.

Corporate Social Responsibility (CSR)

ASBS emphasizes corporate social responsibility and community involvement. In addition to offering top-notch banking services, the bank actively invests in the local community. It supports various initiatives that contribute to the social well-being of society and helps in the development of future generations. Through these efforts, ASBS aims to be a positive force for societal progress and growth.

Key Differentiators

Several factors contribute to ASBS's distinct market differentiation:

1. Strong Shareholder Support - Backed by experienced and reputable shareholders like ASBB and Seychelles Pension Fund, ASBS gains a competitive advantage in the market.
2. Advanced IT Infrastructure - The bank boasts a state-of-the-art IT infrastructure, enabling seamless and efficient operations.
3. Tailor-made Shari’a-Compliant Solutions - ASBS offers innovative and tailor-made Shari’a-compliant product solutions, catering to the specific needs of its diverse clientele.
4. Universal Business Model - ASBS operates on a universal business model, providing a comprehensive range of products and services covering deposits, financing, and investment opportunities.

Commitment to Excellence

ASBS is dedicated to maintaining the highest standards of corporate governance, compliance, and risk management. The bank operates with utmost integrity, transparency, and trust, adhering to internationally recognized standards and best practices.

Vision and Mission

• Vision - ASBS aspires to become a leading Shari’a-compliant financial services provider known for offering differentiated products to specific segments of its clientele.
• Mission - The bank's mission is to deliver a wide range of distinguished Shari’a-compliant banking services to its clients while serving as a bridge between the Gulf Cooperation Council countries and the Indian Ocean Rim countries, promoting economic growth and prosperity in the region.

Al Salam Bank-Seychelles (ASBS) stands as a reputable Islamic bank that offers innovative Shari’a-compliant financial products and services. With a solid foundation, regional expansion plans, and a commitment to corporate social responsibility, ASBS is poised to play a significant role in fostering economic development and financial connectivity between nations.