Al Salam Bank strengthens ties with Seychelles

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A delegation from Al Salam Bank-Bahrain (ASBB) headed by Group CEO Rafik Nayed met with the President of the Republic of Seychelles, His Excellency Danny Faure, during his first state visit to the Kingdom of Bahrain. They discussed the ongoing progress at Al Salam Bank-Seychelles (ASBS), a joint venture between ASBB and the Seychelles Pension Fund (SPF), and its contribution to the development of the domestic financial services industry in the Seychelles.

Mr. Rafik Nayed, Mrs. Lekha Nair – ASBS Vice Chairperson and Seychelles Pension Fund CEO, and members of ASBB’s Executive Management also welcomed Seychelles Minister of Finance, Trade, Investment & Economic Planning, His Excellency Maurice Loustau-Lalanne at the Bank’s headquarters in Manama where they explored various initiatives and opportunities for cooperation.

Al Salam Bank-Bahrain Group CEO Mr. Rafik Nayed said: “It was an honor to meet President Faure during his visit to the Kingdom and we were delighted to host Minister Loustau-Lalanne at our headquarters. While Seychelles is renowned as a leading tourist destination, its financial sector provides a range of untapped growth opportunities for onshore and offshore banking services. Our presence in Seychelles forms an integral part of our banking network. We remain committed to the growth of ASBS to become a leading financial institution in the Indian Ocean Rim region and a conduit to the MENA region.”

Officially launched and inaugurated in February 2019 by President Faure, ASBS offers full-fledged onshore and offshore commercial banking services, adopting international standards and best practices. ASBS is located in the Capital Victoria at Maison Esplanade, Francis Rachel Street.

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