Al-Salam Bank Credit Card in Manama
|Minimum Salary needed||Not mentioned|
|Maximum amount available||Not mentioned|
|Length of Loan||Life Time|
|Upfront Fees ( if any )||No|
|Main Features||Free travel insurance up to USD 50,000; 24 / 7 hours card center service; Worldwide acceptance in more than 30,000,000 ATM and retail outlet; Minimum monthly payment as low as 5%; Up to 55 days of free credit; 1% cash gift on every retail spending. High level of security EMV compliant|
Al-Salam Bank -Bahrain B.S.C.
The Al-Salam bank has always believed in fair financial system that would reward hard work. The bank also aims at developing the community and contributes to the economic growth of the country. This thinking is reflected in the banks vision statement as well as in its policies and outlook. The bank aims at ensuring that all banking practices are based on Islamic banking principles of the Sharia’a. The Al-Salam bank strictly follows the path of Islamic banking, ensuring benefits for staff, shareholders and customers alike. This process of ensuring high standards professionally for the mutual benefit of all concerned parties is a key policy for the bank.
During World War I, Manama became a military base for Britain particularly for the Mesopotamian campaign. The presence of crude oil leads to the signing of an agreement between the Hakim and Britain. The terms of the agreement prohibited both the exploration of crude oil as well as its exploitation for 5 years. 1919 saw Bahrain being bestowed the title of “Overseas Imperial Territory” and thus officially become a part of the British Empire. After gaining its independence from Britain in the 20th century, Bahrain saw much chaos, before Manama became its capital. The country slowly diversified into sales promotion and reduced its dependence on oil as it moved towards a greater role in the Middle-east.
Credit cards from the Al Salam bank are a part of the Islamic Banking practices followed by the bank Applicants with a minimum salary of 300 BHD are eligible for a credit card from Al Salam Bank. The bank does not levy any annual fee for the credit card. The interest rate for outstanding balances on the credit card starts from 1 per cent. This credit card from Al Salam Bank complies with the principles of the Sharia’a. The applicant needs to have a salary account with the bank unless he earns a salary greater than 4,000 Bahrain Dinar.