Seychelles-based BMI Offshore Bank (BMIO), of which BMI Bank Bahrain owns 50 per cent, plans to convert into a Sharia-compliant bank.

This follows a visit to Seychelles by a delegation from BMI Bank, a subsidiary of Al Salam Bank-Bahrain, led by Hussein Mohammed Al Meeza, the Chairman of Executive Committee along with a number of senior officials from Al Salam Bank-Bahrain (ASBB).

James Alix Michel, the President of the Republic of Seychelles, received the delegation at the State House in Victoria.

During the meeting, President Michel hailed the efforts and initiatives undertaken by the BMIO.

BMIO has contributed to the support and strengthening of the economic and financial activities in Seychelles through the various banking and financial services it provides to citizens and residents, as well as citizens abroad, President Michel noted.

Al Meeza further went on to say that after BMIO becomes a Shari’a-compliant bank, it would offer innovative banking and financial products and services to its customers.

The delegation also met Seychelles Finance Minister Jean-Paul Adam and the country’s central bank governor, Caroline Abel, during the visit. – TradeArabia News Service