Bahrain Islamic Bank

Bahrain Islamic Bank is a commercial bank based in Manama, founded on 7 March 1979; it began operating at the start of the Hijri year 1400, on 2 Muharram, which was 22 November 1979. ¹ It is the first Islamic bank in the Kingdom of Bahrain, works under the supervision of the Central Bank of Bahrain and is listed on the Bahrain Bourse. ¹

In January 2016 Moody's confirmed its ratings and upgraded its baseline credit assessment. ¹ In 2017, under a five-year growth plan, it set out to sell about 82 million dinars of unproductive assets, including land and shares, and sold 14 million dinars' worth in the first six months. ¹ In 2019 the National Bank of Bahrain, already a shareholder, offered to buy its remaining shares at a valuation of 124 million dinars. ¹ It signed a cooperation agreement with STC Bahrain on initiatives for small and medium enterprises, and one with Delmon Gate to finance the Bushra housing project. ¹

In 2023 the bank announced plans for the first AI platform for Islamic banking fatwas, drawing on more than 1,800 fatwas and Sharia decisions issued by its Sharia Supervisory Board. ¹

• English Wikipedia, "Bahrain Islamic Bank", revision 1376163080. ¹