Ithmaar Bank
Ithmaar Bank is a Bahrain-based Islamic retail bank, wholly owned by Ithmaar Holding B.S.C., providing Sharia-compliant corporate banking — accounts, Modaraba deposits, trade finance, and financing — to corporates, SMEs, HNW clients, and financial institutions in Bahrain and Pakistan (via Faysal Bank).
- Company typePrivate
- Founded1982
- HeadquartersManama, Bahrain
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Ithmaar Bank does
Ithmaar Bank B.S.C. (closed) is a Bahrain-based Islamic retail bank licensed and regulated by the Central Bank of Bahrain, operating exclusively in the corporate banking segment since its establishment in 1982. The bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. (listed on Bahrain Bourse and Dubai Financial Market under ticker ITHMR), which is itself a subsidiary of Dar Al-Maal Al-Islami Trust (DMIT); Ithmaar Bank maintains overseas presence through its wholly-owned subsidiary Faysal Bank Limited in Pakistan. Its product suite is anchored on Sharia-compliant principles and spans current accounts (Qard Al Hasan / Wadei'ah), savings accounts, Modaraba deposits (General and Special tiers), Murabaha and Wakala deposits, Call Accounts, letters of credit and guarantee, working capital / term / contract / project finance, Tamkeen-subsidized financing for SMEs, private banking for HNW clients, and an asset management division managing Funds Under Management.
The bank distributes through a Main Branch at Seef Tower in Manama, a 24/7 call center, eBanking and Mobile Banking platforms, a Quick Services portal, ATM/CDM network, and a dedicated Private Banking relationship channel. Core technology runs on AWS cloud infrastructure managed under a 2026 partnership with stc Bahrain, which consolidates billing and supports digital banking scalability; the bank also earned ISO 27001:2022 certification for information security in March 2026. Ithmaar is segmented horizontally across Corporate customers, SMEs, Private Banking/HNW clients, and Financial Institutions, with no publicly disclosed customer logos, revenue figures, or detailed segment mix in the provided data.
Revenue mechanics derive from Islamic banking spreads — mudarib share of Modaraba/Murabaha profits, financing margins on corporate facilities, and transaction fees on trade finance (letters of credit and guarantees) and account services — supplemented by private banking and asset management fees. Deposit pricing is tiered by balance (Tier 1 under BHD 40,000 / USD 99,999; Tier 2 BHD 40,000+ / USD 100,000+; Special Modaraba at BHD 100,000+ / USD 250,000+; Call Account BHD 100,000+ / USD 250,000+) and currency (BHD, USD, SAR), with monthly or at-maturity profit distribution. The bank reported Q1 2026 profits and full-year 2025 profits, alongside branch network expansion and digital modernization, though no quantitative revenue or growth figures were disclosed.
Ithmaar Bank firmographics
Firmographics- Name
- Ithmaar Bank
- Legal name
- Ithmaar Bank B.S.C. (closed)
- Website
- https://ithmaarbank.com
- Company type
- Private
- Founded year
- 1982
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Ithmaar Bank is a Bahrain-based Islamic retail bank, wholly owned by Ithmaar Holding B.S.C., providing Sharia-compliant corporate banking — accounts, Modaraba deposits, trade finance, and financing — to corporates, SMEs, HNW clients, and financial institutions in Bahrain and Pakistan (via Faysal Bank).
- Ownership category
- akta.pro rank
Ithmaar Bank industry classification
Industry- Product category
- Islamic Corporate Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Islamic SME & Commercial Banking (FSABAGAB)
- akta.pro secondary industries
- Islamic Corporate Banking (FSABAGAC), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF), Islamic Private Banking & Wealth (FSABAGAD)
Keywords
Where Ithmaar Bank is headquartered
LocationHeadquarters
- HQ city
- Manama
- HQ country
- Bahrain
- HQ region
- Middle East
Offices2 records
Markets served
Ithmaar Bank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Islamic Banking Services: Sharia-compliant banking services including current accounts, savings accounts (Modaraba), and deposit products. Revenue generated through profit distribution spreads and fees. Current accounts are Qard Al Hasan/Wadei'ah based and do not pay profit; revenue comes from other services.
- Trade Finance Services: Letters of Credit, Letters of Guarantee, LC Refinance, and Collection Documents. Fees charged for issuance and processing of trade finance instruments.
- Corporate Financing: Sharia-compliant financing products including working capital finance, term finance, contract finance, and project finance. Revenue from financing margins under Murabaha and other Islamic structures.
- Deposit Products: Modaraba deposits, Murabaha deposits, and Wakala deposits. Returns distributed to depositors; bank earns mudarib share of profits.
- Private Banking Services: Wealth management services for high-net-worth clients with dedicated relationship managers, personalized Sharia-compliant products and financing solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | General Modaraba Tier 1: BHD 1,000 - BHD 39,999 / USD 2,000 - USD 99,999 |
| Subscription | Monthly | General Modaraba Tier 2: BHD 40,000 and above / USD 100,000 and above |
| Subscription | Multi-year contract | Special Modaraba: Minimum BHD 100,000 / USD 250,000 / SAR 1,000,000 |
| Subscription | Monthly | Call Account: Minimum BHD 100,000 or USD 250,000 |
| Subscription | Multi-year contract | Tamkeen Financing: Subsidized 50% of profit rate for eligible enterprises |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels3 records
Ithmaar Bank product offering
Product offeringCore offering
Ithmaar Bank is a Bahrain-based Islamic bank that provides Sharia-compliant banking services focused on corporate customers. Its core offering includes current accounts, savings and Modaraba deposit accounts, letters of credit and guarantees, working capital and project financing (including Tamkeen-subsidized programs), treasury and correspondent banking services, private banking for high-net-worth clients, and asset management. Digital channels (eBanking, Mobile Banking, Quick Services) extend these products to corporate and institutional clients in Bahrain and overseas via its subsidiary Faysal Bank Limited in Pakistan.
Product overview
Ithmaar Bank is a Bahrain-based Islamic retail bank focused exclusively on serving corporate customers. The bank offers a comprehensive suite of Sharia-compliant banking products organized into account services (Current, Savings, Modaraba, and Call Accounts), trade finance facilities (Letters of Credit and Guarantees), specialized financing programs (including Tamkeen Financing for SMEs), and deposit products (Modaraba, Murabaha, and Wakala deposits). Digital banking services include eBanking, Mobile Banking, Quick Services, and an IBAN Generator. The bank also provides Private Banking for wealth management and maintains dedicated Financial Institutions & Treasury and Asset Management divisions. The portfolio is anchored on Islamic banking principles and serves corporate, SME, and institutional clients in Bahrain and overseas through its subsidiary Faysal Bank Limited in Pakistan.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- ISO 27001:2022 certification earned for information security processes
Companies that use Ithmaar Bank
Customer profileSegments4 records
Ideal customer profiles4 records
Ithmaar Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Ithmaar Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- stc Bahraincorestc Bahrain, an AWS Premier Tier Services Partner, formed a strategic partnership with Ithmaar Bank to provide comprehensive AWS billing management for the Islamic retail bank. Under the agreement, stc Bahrain consolidates Ithmaar Bank's AWS billing into a single transparent monthly invoice, offering cost optimization, operational efficiency, and simplified vendor management. The collaboration supports Bahrain's digital economy vision and strengthens cloud governance while enabling Ithmaar Bank's team to focus on innovation in Islamic banking.
Scale indicators3 records
Recent moves5 records
Expansion highlights4 records
Ithmaar Bank competitors and assessment
Company assessmentBroad incumbents
- Kuwait Finance House (KFH): One of the largest Islamic banks globally, offering full-spectrum Sharia-compliant corporate, retail, investment and treasury services across the GCC. Comparable by Islamic banking model and product breadth, but operates at much greater scale.
- Bank ABC: Bahrain-headquartered international conventional bank with strong trade finance, correspondent banking and treasury franchises across MENA. Comparable by Bahrain base, corporate/trade finance focus and institutional banking capabilities, though conventional rather than Islamic.
- Abu Dhabi Islamic Bank (ADIB): UAE Islamic bank with full corporate, SME, private banking and treasury offerings under Sharia governance. Comparable by Islamic product set and corporate banking focus, though at substantially larger scale.
- Al Rajhi Banking Group: Saudi Arabia-headquartered Islamic banking heavyweight with full corporate, retail, treasury and investment offerings. Comparable by Sharia-compliant model and product breadth, though far larger and globally recognized.
- Dubai Islamic Bank: UAE-headquartered Islamic bank providing corporate financing, trade finance (LCs/guarantees), treasury, and wealth management services. Overlaps materially with Ithmaar's product portfolio and customer segments, at significantly larger scale.
- Qatar Islamic Bank (QIB): Qatar's largest Islamic bank offering corporate financing, trade finance, deposits, private banking and asset management. Comparable product suite and GCC regional positioning, with materially larger deposit and asset base.
Regional players
- Bank of Bahrain and Kuwait (BBK): Bahraini conventional bank offering corporate financing, trade finance, deposits and treasury services with significant cross-border GCC activity. Comparable by Bahrain-based corporate banking franchise, though conventional rather than Islamic.
- Khaleeji Commercial Bank: Bahraini Islamic investment and commercial bank serving corporate and HNW clients with Sharia-compliant financing, treasury and investment products. Comparable by Bahrain domicile and Islamic banking focus, though smaller and more investment-bank oriented.
Direct peers
- Bahrain Islamic Bank: Bahrain-based Islamic bank offering similar Sharia-compliant retail and corporate banking, deposit, financing and trade finance products. Closest direct competitor by geography, regulatory regime and product mix.
- Faysal Bank Limited (Pakistan): Pakistan-based Islamic and conventional bank that is itself Ithmaar Bank's wholly-owned subsidiary. Directly comparable in Islamic banking product suite and customer segments, with the strongest operational and capital linkage to Ithmaar.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Ithmaar Bank social profiles
Digital presenceIthmaar Bank compliance and trust
Trust signalCompliance1 record
Ithmaar Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ithmaar Bank leadership team
Management profileNumber of profiles
Profiles1 record
Ithmaar Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
Ithmaar Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ithmaar Bank M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ithmaar Bank
What does Ithmaar Bank do?
Ithmaar Bank is a Bahrain-based Islamic bank that provides Sharia-compliant banking services focused on corporate customers. Its core offering includes current accounts, savings and Modaraba deposit accounts, letters of credit and guarantees, working capital and project financing (including Tamkeen-subsidized programs), treasury and correspondent banking services, private banking for high-net-worth clients, and asset management. Digital channels (eBanking, Mobile Banking, Quick Services) extend these products to corporate and institutional clients in Bahrain and overseas via its subsidiary Faysal Bank Limited in Pakistan.
Is Ithmaar Bank a public or private company?
Ithmaar Bank is a private company. It is classified as corporate owned and is currently operating.
When was Ithmaar Bank founded?
Ithmaar Bank was founded in 1982. It employs 251 to 500 people.
Where is Ithmaar Bank based?
Ithmaar Bank is headquartered in Manama, Bahrain, in the Middle East region.
How does Ithmaar Bank make money?
Five revenue lines are on record. Islamic Banking Services are the primary driver. The others are trade Finance Services, corporate Financing, deposit Products and private Banking Services.
Who are Ithmaar Bank's main competitors?
Broad incumbents on record are Kuwait Finance House (KFH), Bank ABC, Abu Dhabi Islamic Bank (ADIB), Al Rajhi Banking Group, Dubai Islamic Bank and Qatar Islamic Bank (QIB). Regional players are Bank of Bahrain and Kuwait (BBK) and Khaleeji Commercial Bank. Direct peers are Bahrain Islamic Bank and Faysal Bank Limited (Pakistan).
Does Ithmaar Bank have an API?
No public API is recorded for Ithmaar Bank.
What industry is Ithmaar Bank in?
Ithmaar Bank's product category is Islamic Corporate Banking. Its primary akta.pro industry code is FSABAGAB, Islamic SME & Commercial Banking, with a secondary code of FSABAGAC, Islamic Corporate Banking. Its NAICS code is 522110 and its SIC code is 6099.