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04/18/2021 | Press release | Distributed by Public on 04/18/2021 04:39
Ithmaar Bank and the Ministry of Justice, Islamic Affairs and Waqf launch monthly payment project for the Zakat and Sadaqat Fund
MANAMA, BAHRAIN - 18 April 2021 -Ithmaar Bank, a Bahrain-based Islamic retail bank, announced that is has started collaborating with the Zakat and Sadaqat Fund of Bahrain s Ministry of Justice, Islamic Affairs and Waqf to streamline Zakat and Sadaqat monthly payments in the Kingdom.
The collaboration will allow the Bank s customers to easily pay Zakat and Sadaqat directly into the Ministry s Zakat and Sadaqat Fund. The transfers can be completed through standing orders, direct debit or online transfers as part of the monthly payment project.
Ithmaar Bank to fast-track Murabaha transactions following key Bahrain Bourse agreement
MANAMA, BAHRAIN - 6 April 2021 -Ithmaar Bank, a Bahrain-based Islamic retail bank, announced today (ed note: 06/04/21) that it has signed an agreement with the Bahrain Bourse allowing the Bank to utilise the Ijara Sukuks issued by the Central Bank of Bahrain (CBB) as underlying assets to complete Murabaha Finances using an innovative, Sharia-compliant brokerage service introduced by the Bourse through its electronic platform.
The announcement follows a signing ceremony that was hosted entirely online with the Bahrain Bourse Chief Executive Officer, Shaikh Khalifa bin Ebrahim Al Khalifa, the CBB Executive Director of Banking Operations, Shaikh Salman bin Isa Al Khalifa, and the Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, each signing an electronic copy during a live video call.
Ithmaar Bank offers advance salary exclusively for mobile app users
MANAMA, 4 hours, 27 minutes ago Customers of Ithmaar Bank, a Bahrain-based Islamic retail bank, can now get their net salary fifteen days in advance, instantly and directly from their mobile phones, by using the Bank’s dedicated mobile application (App). The latest service, which was launched as part of the Bank’s digital transformation strategy, is a first of its kind in Bahrain and uses sophisticated technology to automate the entire process; from the initial application through to the review, evaluation, approval and even disbursement of funds. In doing so, it provides a uniquely fast and efficient solution to customers and demonstrates the dramatic potential of using technology to enhance banking services.
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