Shamil Bank of Bahrain B.S.C., a leading Islamic commercial and investment bank and a member of Ithmaar banking group announced the opening of a new retail branch in Arad. The branch was officially inaugurated by Shamil Bank’s Chief Executive, Mr. Mohamed Hussain.

The new branch in Arad (near Midway Supermarket) is the ninth in Shamil Bank’s growing retail branch network in the Kingdom of Bahrain.

Speaking on the occasion Mr. Mohamed Hussain said that “The continuous increase in the number of branches shows our desire to have a personalized interaction with the customers. It is extremely important for us to have a firsthand account of their needs and to address them in the best way possible. We want to be within easy reach of our customers through an increased presence throughout the Kingdom of Bahrain.”

Mr. Hussain also said that “the new branch interior is most contemporary in terms of design features. The overall space planning and ambience is friendly and welcoming.”

Shamil Bank’s new Arad branch is a full service branch, including an onsite ATM and a designated section for ladies banking with a separate access.

The Bank recently announced its highest ever nine-month net profit of US$63.9 million for the period ended September 30, 2007.