Al Salam Bank marks one-year milestone for ASB Capital with USD 5.8 billion in assets

TDT | Manama

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Al Salam Bank celebrated the first anniversary of ASB Capital, its asset management and investment banking arm, launched during Gateway Gulf 2024. ASB Capital’s assets under management have grown 30% to USD 5.8 billion, driven by new investment products including Global Equity, MENA Equity, Technology, and Sukuk Funds.

The firm played a key role in regional issuances exceeding USD 2 billion and plans to launch the XASB Sukuk ETF in partnership with Xtrackers by DWS. Group CEO Rafik Nayed said ASB Capital’s strong growth reflects its commitment to innovation, trust, and client value creation.

ASB Pay Business

Al Salam Bank has launched “ASB Pay Business,” a digital Pointof-Sale (POS) platform powered by Arab Financial Services (AFS. The platform enables businesses, freelancers, and MSMEs to accept payments directly via smartphones, eliminating the need for traditional terminals.

Offering digital invoicing, payment links, real-time tracking, and same-day settlements for Al Salam Bank account holders, ASB Pay Business integrates with accounting and e-commerce systems, supporting scalability for all business sizes.