I have been transacting with banks for more than three years now, but it is surprising that most of them don?t cater to specific customers such as Muslims who have a unique preference in banking services. All banks that I have visited only use conventional banking, and this disregards the financial inclination of Muslims. Luckily, I came across BMI Bank, a bank that conducts not only conventional banking, but also Islamic banking.BMI Bank, a subsidiary of Al Salam Bank, is a retail bank registered in Bahrain and regulated by the Central Bank of Bahrain.
It operates an international branch in Qatar and has shareholdings in other banks, such as the Gulf African Bank. Its financial standing is strong and booming as its shareholders include some of the strongest and most respected financial institutions, including BankMuscat (the flagship financial institution in the #Sultanate of Oman and the leading financial banking services provider therein). This review is solely provided to the cclogic forum.
BMI Bank is established to provide high quality products and services in the form of various banking services, such as retail and commercial banking, to an increasing number of people not only in selected markets but also in other emerging markets. It?s known for providing high quality products and banking services in a sustainable way, and for serving current clients with loyalty (which is why it attracts the best customers). It serves to bring benefits to everyone concerned, not just its own customers, but also the government, communities, citizens, and even competitors. BMI Bank is indeed an institution committed not to competition, but to performance.BMI Bank's team is composed of well-trained specialists and individuals who are committed to meet and exceed the expectations of its customers by providing them with innovative and high quality financial solutions involving both conventional and Islamic banking. They are bonded by a strong corporate culture, knowledge, skills, the latest technology, and integrity.
BMI Bank's financial standing is fortified by its continuing development and excellent banking services and it is expected to grow even more as soon as the merger between it and Al Salam Bank is complete. While it experienced certain setbacks in 2014 because of the planned merger, its financial standing remains unaffected. Its profitability ratio for 2013 is at 3.3%, its capital adequacy ratio is at 16.5%, its net loans to customers? deposits is at 71.2%, its liquid assets to total deposits is at 51.5%, and its net loans to total assets is at 39.3%.
All these numbers suggest that BMI Bank has sufficient assets and cash to give to its customers in the form of loans, and that it will not easily go bankrupt because it has assets to support its reserves. Its non-performing loans to total loans ratio stands at 25% and its loan loss provision to total non-performing loans stands at 48.4%. Its asset quality is always performing, making sure that the money deposited in it will work for the benefit of both the depositors and the borrowers.This review is solely provided to the cclogic forum.BMI Bank has a vast range of banking services such as wholesale, private, internet, and Islamic banking. It also offers a large selection of retail products such as regular savings and current accounts, VISA gold and classic credit cards, a Platinum credit card with rewards, a Diners Club credit card, and credit cards in partnership with other companies. It also offers fixed deposits, personal, auto and mortgage loans, and a new phone banking and mobile banking service.
Also, in line with building a stronger corporate social responsibility (CSR) program, BMI Bank actively supports and encourages community initiatives. For its revised CSR program, it has partnered with charities such as the American Mission Hospital's Community Outreach Program and Al Sanabil Orphans Care Center.They have their own SWIFT / BIC code which is BMUSOMRXXXX - found here
Learn more Accenture Press Release, 05 August 2009: Accenture Shareholders Approve Change in Place of Incorporation
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