MANAMA, BAHRAIN – 21 June 2016 – – Ithmaar Bank, a Bahrain-based Islamic retail bank, announced the opening of a new full-service branch in the Galali neighbourhood of Muharraq, growing its network to 18 branches and 48 ATM machines. This gives the Bank the widest branch network of any Islamic bank and the third largest of any bank in Bahrain.

“The Kingdom of Bahrain is home to a well regulated - and one of the most sophisticated and competitive - banking sectors in the region, which is a great benefit for customers because it means that local banks are constantly upgrading their services and branch networks, and offering better rates,” said Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim. “Ithmaar Bank with its wide branch network in the Kingdom, is a major player in creating this healthy competitive environment,” he said.

“This branch is a direct response to growing customer demand in those areas,” said Abdul Rahim. “For a very large segment of our customer base, proximity is an important part of the service, and we try our best to be as close to our customers as possible, especially in major population centres. In fact, this newest branch is our fourth location in Muharraq, adding to our existing full-services branches in Busaiteen, Muharaq Souq and Arad,” he said.

The location of the new branch was selected following a detailed market study that uncovered a growing need for the Bank’s services in that part of Muharraq, which is in close proximity to customers living in Amwaj Islands, Samaheej, Dair, Diyar Al Muharraq and Hidd.

During Ramadan, the branch will be open from Saturday to Wednesday 8:30 am to 1:30pm; and 8:30 pm to 10:30 pm on Saturdays (25 June), and Tuesdays (28 June).