ila Bank

What ila Bank does

ila Bank is a mobile-only digital retail bank headquartered in Manama, Bahrain, operating as a retail branch of Arab Banking Corporation (Bank ABC), a regional banking group with 40 years of operating history. Founded in 2019 and licensed by the Central Bank of Bahrain, ila Bank serves digital-native consumers in Bahrain and Jordan (since September 2022) through a 100% app-based experience on iOS and Android, with onboarding completed in three steps and a virtual card issued instantly. Its core technology stack runs on Temenos' cloud-native Core Banking and Payments platform hosted on Amazon Web Services (AWS) following a migration completed in February 2026, with biometric facial recognition for KYC and ongoing authentication, an AI chatbot ('Fatema') for customer service, and an Open Banking developer portal.

The product portfolio spans three debit cards (Classic, Premium, Prepaid), seven credit card SKUs (ila Blue, ila Switch, ila Gulf Air co-branded, ila Black, ila White, ila World, ila World Elite), multi-currency accounts supporting 10 currencies on a single debit card, and a savings suite including Fixed Deposit, Hassala, Savings+, and the prize-linked Al Kanz program with monthly draws up to USD 500,000. The bank also operates alburaq, a Shari'a-compliant Islamic banking line supervised by a dedicated Shari'a Supervisory Board. Revenue is generated from interest income on deposits and credit card balances, transaction and interchange fees on credit cards, ATM and transfer fees, and Islamic finance mechanisms, supplemented by promotional cashback funded from merchant fees.

Customer acquisition is product-led and digital-first, leveraging app stores, social media, referral programs, and the Al Kanz prize-linked savings mechanism as an engagement flywheel. Distribution is exclusively mobile-app with ATM network access for cash, eliminating physical branch costs and enabling ila Bank to position with the lowest income requirement to open an account in the Bahrain market. Customer segments include mobile-first retail consumers, savings-focused Al Kanz participants, premium credit card holders seeking travel and lifestyle benefits, and Shari'a-compliant banking customers. Strategic priorities evidenced by recent moves include regional geographic expansion, credit card portfolio segmentation, multi-currency breadth, and integration into Bank ABC's broader 15-country core banking consolidation program.

Name

ila Bank

Legal name

ila Bank (Branch of Arab Banking Corporation B.S.C.)

Website

https://ilabank.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

ila Bank is a mobile-only digital retail bank headquartered in Bahrain, operating as a branch of Bank ABC. It serves digital-native consumers in Bahrain and Jordan with multi-currency accounts, a tiered credit card portfolio, prize-linked savings, and Shari'a-compliant banking via the alburaq line.

Ownership category

akta.pro rank

Product category

Digital Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Functions Related To Depository Banking, Nec (6099), Personal Credit Institutions (6141)

akta.pro primary industry

Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD)

akta.pro secondary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Digital retail banking
• Mobile banking services
• Multi-currency accounts
• Islamic banking products
• Credit card services

Headquarters

HQ city

Manama

HQ country

Bahrain

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Interest Income: Traditional banking revenue from interest charged on credit card balances, loans, and earned on customer deposits. The bank offers tiered interest on BHD savings accounts.
2. Transaction Fees: Fees from payment processing, international transfers, ATM withdrawals, and other banking transactions. The bank publishes detailed fee schedules for accounts, credit cards, and prepaid cards.
3. Credit Card Fees and Interest: Annual fees, interchange fees, promotional 0% interest offers, and cashback rewards funded from merchant fees. Revenue from credit products including ila World, ila World Elite, ila Blue, ila Switch, ila Gulf Air, ila Black, and ila White cards.
4. Islamic Banking (alburaq): Shari'a-compliant products including alburaq Islamic account, Wakala investments, and alburaq Hassala, generating revenue through Islamic finance mechanisms.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

ila Bank is a digital mobile-only bank offering retail current accounts, multi-currency accounts (up to 10 currencies), savings products, debit and credit cards, and Shari'a-compliant Islamic banking (alburaq) exclusively through its iOS and Android mobile application. The bank is powered by Bank ABC's 40-year banking heritage and runs on a Temenos cloud-native core platform hosted on AWS, enabling instant onboarding, virtual card issuance, and biometric authentication.

Product overview

ila Bank is a digital mobile-only bank powered by Bank ABC, offering a comprehensive suite of banking products through its mobile application. The portfolio includes multiple debit cards (ila Classic, ila Premium, ila Prepaid), credit cards (ila World, ila World Elite, ila Black, ila White, ila Gulf Air, ila Blue & Switch), and savings products (Fixed Deposit, Hassala, Savings+, Al Kanz prize-linked savings). The bank also provides Sharia-compliant Islamic banking through the alburaq Islamic Account, Jamiyah, and Wakala investments. Multi-currency accounts support up to 10 currencies linked to a single debit card. The bank's open banking platform enables developer integrations via APIs. All services are delivered exclusively through the mobile app, positioning ila as a challenger digital bank focused on the Bahrain and Jordan markets.

Differentiator

Problem solved

Functional benefit

Brands

• alburaq: Shari'a-compliant Islamic banking account and related products including Wakala investments and alburaq Hassala savings.

Products and services

• ila Black Credit Card Premium credit card offering lifestyle benefits and cashback on foreign currency spending for retail consumers.
• ila White Credit Card Credit card with cashback offers on foreign currency transactions and lifestyle perks for retail consumers.
• ila World and ila World Elite Credit Cards Two credit cards launched in March 2026 for distinct customer segments: ila World (no annual fee, up to 1.5% cashback, 1,300+ airport lounges) and ila World Elite (up to 2% cashback, concierge, lifestyle perks), both with a promotional 0% interest offer on purchases for the first three billing cycles for applications submitted before 31 May 2026.
• ila Gulf Air Credit Card Co-branded credit card with Gulf Air offering up to 20% discount on Gold Falcon class and 15% on economy tickets, along with lounge access and travel benefits for retail consumers.
• ila Blue & ila Switch Credit Cards Standard credit card offerings for everyday banking and spending needs of retail consumers.
• ila Classic Debit Card Standard debit card for everyday banking, available instantly as a virtual card upon account opening for retail consumers.
• ila Premium Debit Card Premium debit card offering free access to over 1,100 airport lounges worldwide, travel insurance, electronic device insurance, online purchase protection, and complimentary shopping benefits for retail consumers.
• ila Prepaid Cards Prepaid card options for controlled spending and gifting purposes, available to retail consumers.
• Multi-Currency Accounts Digital banking accounts supporting up to 10 currencies (BHD, USD, GBP, EUR, AED, SAR, CAD, KWD, QAR, OMR) linked to a single debit card for international transfers and travel, with expanded QAR and OMR support added in June 2026.
• Fixed Deposit Term deposit accounts for savings with fixed interest rates available to retail customers.
• Hassala (Savings Piggy Bank) Goal-based savings feature allowing customers to set aside money for specific targets through the mobile app.
• Savings+ Enhanced savings account offering tiered interest rates on BHD balances for retail customers.
• Al Kanz Prize-Linked Savings Prize-linked savings account where customers can win monthly cash prizes up to USD 500,000, with every BHD 50 maintained earning one entry into monthly draws.
• alburaq Islamic Account Shari'a-compliant Islamic banking account supervised by a Shari'a Supervisory Board, offering Wakala investments and alburaq Hassala savings for Muslim retail customers.
• Islamic Wakala Investments Shari'a-compliant Wakala investment product offered under the alburaq Islamic banking suite for Muslim retail customers.
• Jamiyah Islamic group savings scheme enabling collective financial goals for retail customers.
• alburaq Hassala Shari'a-compliant goal-based savings feature under the alburaq Islamic banking suite.
• Government Securities Investment product offering exposure to government-issued securities and bonds for retail customers.

Quantifiable outcome

• Record 11 awards at Global Finance's Best Digital Bank Awards 2025, including 'Best Mobile Banking App in the Middle East'

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability5 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core, secondary and minor.

• TemenoscoreTechnology or Integration · 6 February 2026Temenos provides the cloud-native Core Banking and Payments platform hosted on Amazon Web Services (AWS). This migration (completed February 2026) covers ila Bank's retail account and lending operations, including Temenos Payments and Data Hub. The platform provides speed, agility, and scalability required for customer growth and faster product launches.
• Systems LimitedcoreImplementation/ SI/ Consulting Partner · 6 February 2026Systems Limited delivered the implementation of the Temenos core banking platform migration to AWS and provides ongoing managed services. This is part of Bank ABC's wider core banking transformation program to consolidate systems from across 15 countries onto a single Temenos platform.
• Amazon Web Services (AWS)coreTechnology or Integration · 6 February 2026AWS hosts the Temenos core banking platform for ila Bank, providing the cloud infrastructure for the digital bank's operations.
• Gulf AirsecondaryStrategic or Co-development PartnerCo-branded ila Gulf Air Credit Card offering exclusive benefits including up to 20% discount on Gulf Air Gold Tier and 15% on economy class tickets, lounge access, and travel benefits.
• The Ritz-Carlton BahrainminorStrategic or Co-development Partnerila World Elite cardholders receive dining and spa discounts at The Ritz-Carlton Bahrain as part of lifestyle perks.
• Apple PaysecondaryTechnology or Integrationila Bank supports Apple Pay digital wallet integration for contactless payments.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ilaBankBHR
• YouTubeyoutube.com/channel/UC_ycAB7SYwy1B5G7MRgJrFw
• Facebookfacebook.com/ilabankbhr
• LinkedInlinkedin.com/company/ilabank
• Instagraminstagram.com/ilabankbhr

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ila Bank