Traded as Bahrain Bourse: ITHMR Headquarters Manama, Bahrain Founded 13 August 1984 | Website IthmaarBank.com CEO Ahmed Abdul Rahim Subsidiaries Faisal Bank Limited | |
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Industry Banking, financial services Area served Bahrain, Qatar, Pakistan, Switzerland, Saudi Arabia Key people HRH Prince Amr Mohammed Al Faisal
Chairman
Ahmed Abdul Rahim
Chief Executive Officer Products Private Banking, Commercial Banking, Consumer Banking, Credit Cards, foreign currency exchange, Global Banking, mortgage loans, Retail Banking, Risk Management, Wealth Management Profiles | ||
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Ithmaar Bank B.S.C. is a Bahrain-based licensed Islamic retail bank, regulated by the Central Bank of Bahrain, that provides Sharia-compliant retail, commercial, treasury and other banking services.
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Ithmaar Bank is a subsidiary of Dar Al-Maal Al-Islami Trust (DMI), and is listed on the Bahrain Bourse and the Kuwait Stock Exchange.
Ithmaar has a presence in overseas markets through its subsidiaries, associated and affiliated companies. These include Faysal Bank Limited (Pakistan), Faisal Private Bureau (Switzerland), Sakana Holistic Housing Solutions, Ithmaar Development Company Limited, Bahrain-based BBK, Solidarity (an Islamic insurance company), Naseej and Ithraa Capital (Kingdom of Saudi Arabia).
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Ithmaar Bank's PPP Housing Partnership
Ithmaar has signed an agreement with the Bahrain's Ministry of Housing to help address the Kingdom's housing challenges. This is a "first time home buyers" program which allows citizens to pay a fixed 25% of their income towards the mortgage with the balance being paid by the Ministry of Housing. The project was launched in 2013 to build more than 50,000 social and affordable housing units. The program began with initial funding of more than $450 million from Ithmaar Bank to build 2,800 housing units at Al Madina Al Shamaliya and Al Luwzi.