MANAMA, 5 August — Shamil Bank of Bahrain E.C. (Islamic Bankers) announced yesterday, the introduction of a new organization structure at high level, at its head office located in Bahrain. Shamil Bank is owned by Geneva based Dar Al-Maal Al-Islami Trust (DMI). The Bank has a paid up capital of $230 million (with an authorized capital of $500 million). Shamil Bank strictly adheres to and operates in accordance with Islamic principles.
This restructuring comes after Shamil Bank’s formation in July last year after the merger between Faysal Islamic Bank of Bahrain E.C. and Islamic Investment Company of the Gulf (Bahrain) E.C.
The new structure will support Shamil Bank’s strategic directives, which aims to be a prime Islamic bank in the Gulf region. It will result in providing its customers with improved products and services covering the areas of Islamic investment, commercial banking as well as corporate and structured finance.
The restructuring is evident of Shamil Bank’s commitment and drive for sharpening strategic focus and professional approach toward customer needs. It will ensure emphasis on offering targeted customer segments with innovative Islamic products combined with excellent customer service. This will enable the bank to attract more customers and increase its market share. Emphasis will also be given to maximizing return on investment and profits for all products and services provided by the Bank .
According to Samil Bank’s Chief Executive Dr. Said Sa’ad Al Martan, “implementation of the restructuring plan will help Shamil Bank to better serve the needs of its customers, shareholders and staff in the most efficient and cost effective manner.”
The virtual business demands in terms of work speed and efficiency, decision making and reporting relationship will also be met by the support of the new structure.
