“Abshar” Bank started as a Bahraini-Saudian company in 1999 in the Kingdom of Bahrain, However, its actual activity started in May 2002 with a capital of 67 million riyals. It was founded by a group of businessmen elite from Saudi Arabia and Emirates with a contribution of 49% of the capital and 51% for the Bahraini government.
“Abshar” Bank is the first investment bank to operate in accordance with “Islamic Sharia” and one of the first Islamic banks to expand in the Middle East when it established its first branch in the UAE, Bahrain in 2003.
Its assets in 2006 reached nearly $ 4 billion and reached $ 1.65 billion on 17 November 2010.
Currently, “Abshar” Bank is part of the Abu Dhabi Financial Market (ADX), with 31 branches and 140 ATMs in Bahrain, Saudi Arabia, Qatar, United Kingdom and Singapore. “Abshar” Bank operates in the fields of investment, trade, mortgage, credit cards, financial services, and insurance.
The Bank's activity is concentrated in the acceptance of deposits, the establishment of investment funds and trading in real estate. It also deals with Islamic financial transactions in all its forms, which the most important of are: “Mudaraba”, the Agency in Investment, “Murabaha” and the ended lease with the date of ownership.