Ithmaar Bank
Ithmaar Bank's Overview
Ithmaar Bank B.S.C. (Closed) is a Bahrain-based Islamic retail bank licensed and regulated by the Central Bank of Bahrain. It provides a diverse range of Sharia-compliant products and services to individuals and institutions. The bank is focused on retail and commercial banking, emphasizing customer-centricity, innovation in Islamic finance, and ethical banking practices. Following a strategic decision, certain assets of Ithmaar Bank, including its retail banking business, were acquired by Al Salam Bank in 2022, while Ithmaar Bank continues to operate other lines of business and manage its remaining assets as a closed entity.
Where is Ithmaar Bank's Headquarters?
HQ Function
The headquarters serves as the central administrative and operational hub for Ithmaar Bank, overseeing strategic planning, corporate governance, core banking operations, and management of its remaining business activities.
Notable Features:
Located in Seef Tower, a modern commercial building, providing contemporary office facilities and infrastructure conducive to banking operations.
Work Culture:
The work culture is expected to be professional, aligning with Islamic finance principles, focusing on ethical conduct, customer service, and adherence to regulatory standards. Post-acquisition of its retail arm by Al Salam Bank, the focus may have shifted towards managing existing assets and specific business lines.
HQ Significance:
Its location in Bahrain's financial district underscores its role within the Kingdom's banking sector and the broader Islamic finance industry in the region.
Values Reflected in HQ: The headquarters' professional setting reflects values such as stability, integrity, and a commitment to Sharia-compliant financial services.
Location:
Ithmaar Bank's direct operations are primarily focused on Bahrain. However, its parent company, Ithmaar Holding B.S.C., has a broader reach with investments and presence in other markets, notably through its stake in Faysal Bank Limited in Pakistan. Ithmaar Bank itself may engage in correspondent banking and international trade finance activities that connect it globally, though its retail footprint was concentrated in Bahrain before the Al Salam Bank transaction.
Street Address:
Seef Tower, Road 2832, Block 428, Building 2438, Seef District
City:
Manama
State/Province:
Capital Governorate
Country:
Bahrain
Ithmaar Bank's Global Presence
Various Locations, Bahrain
Address: Multiple branch locations across Bahrain (Note: Retail banking business now part of Al Salam Bank)
To provide accessible banking services to communities and businesses throughout the Kingdom of Bahrain.
Karachi, Pakistan
Address: Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan (via stake in Faysal Bank Limited held by Ithmaar Holding)
Serves the Pakistani market with Sharia-compliant banking solutions, contributing to Ithmaar Holding's diversified financial presence.
Buying Intent Signals for Ithmaar Bank
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Executive Team of Ithmaar Bank
As of April 2025, Ithmaar Bank' leadership includes:
Investors of Ithmaar Bank
Ithmaar Bank has been backed by several prominent investors over the years, including:
Executive New Hires/Exits in the Last 12 Months
As Ithmaar Bank transitioned its retail banking operations to Al Salam Bank in 2022, significant executive team changes occurred leading up to and following this transaction. In the past 12-18 months, the focus has been on stabilizing the remaining entity. Specific hires/exits for the current, smaller Ithmaar Bank entity are not frequently publicized unless very high-level.
Technology (Tech Stack) used by Ithmaar Bank
Discover the tools Ithmaar Bank uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.
Ithmaar Bank Email Formats and Examples
Ithmaar Bank typically uses a standard corporate email format. The most common formats are [first_initial][last_name]@ithmaarbank.com or [first_name].[last_name]@ithmaarbank.com.
[first_initial][last]@ithmaarbank.com
Format
aabdulrahim@ithmaarbank.com
Example
80%
Success rate
News and media
Zawya • February 28, 2024
Ithmaar Bank reports net profit attributable to shareholders of BD0.51mln for 2023
Ithmaar Bank B.S.C. (closed) announced a net profit attributable to shareholders of BD0.51 million ($1.35 million) for the year ended 31 December 2023. This compares to a net loss of BD1.00 million ($2.65 million) for 2022. The result includes a net profit attributable to shareholders of BD0.55 million ($1.46 million) for the three-month period ended 31 December 2023....more
Trade Arabia • November 14, 2023
Ithmaar Bank posts $4.3m net profit for nine-month period
Ithmaar Bank announced a net profit attributable to shareholders of BD1.62 million ($4.30 million) for the nine-month period ended September 30, 2023. This contrasts with a net loss of BD2.08 million ($5.52 million) for the same period in 2022. The bank reported a net profit of BD0.27 million for the three-month period ended September 30, 2023....more
Al Salam Bank Press Release • July 7, 2022
Al Salam Bank and Ithmaar Holding complete the transactional phase of the acquisition of Ithmaar Bank’s consumer banking business in Bahrain
Al Salam Bank and Ithmaar Holding announced the successful completion of the acquisition of Ithmaar Bank's consumer banking business by Al Salam Bank. This includes Ithmaar Bank’s retail banking portfolio, Kunooz savings accounts, credit cards, and branches in Bahrain. This strategic move significantly expands Al Salam Bank's operations and customer base....more
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