Manama: Seychelles-based BMI Offshore Bank (BMIO), partly owned by BMI Bank Bahrain, is being converted into a Sharia-compliant bank, it has emerged.
This follows a visit to Seychelles by a delegation from BMI Bank, a subsidiary of Al Salam Bank-Bahrain (ASBB), led by the parent’s executive committee chairman Hussein Mohammed Al Meeza along with a number of senior officials.
The delegation called on Seychelles President James Alix Michel in the country’s capital Victoria.
During the meeting, President Michel hailed initiatives undertaken by BMIO, in which BMI Bank owns a 50 per cent stake.
BMIO has contributed to the support and strengthening of the economic activities in Seychelles through various services it provides to citizens and residents, as well as citizens abroad, he said.
Mr Al Meeza said even after becoming Sharia-compliant, the bank would remain open to financing of infrastructure projects in Seychelles.
During the visit, the delegation also met Seychelles Finance Minister Jean-Paul Adam and the country’s central bank governor Caroline Abel.
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