Bahrain - Al Salam Bank, Bahrain’s largest Islamic bank, has announced the launch of ASB Capital, a Category 3A asset management firm licensed by the Dubai Financial Services Authority (DFSA).

Headquartered in the Dubai International Financial Centre (DIFC), ASB Capital is shortly set for an official launch with assets under management of $4.5 billion.

It will offer a diversified range of wealth and asset management solutions, including public markets, private markets, investment banking, and placement services.

The firm aims to cater to High Net Worth Individuals (HNWIs), family offices, corporations, and institutional clients across the Middle East and Africa (MEA) region.

“The launch of ASB Capital marks a pivotal step in our journey to provide comprehensive and market-leading financial solutions for clients,” said Al Salam Bank Group chief executive and ASB Capital managing director Rafik Nayed. “The firm is designed to diversify Al Salam Bank’s operations, revenue streams, and provide a capital-efficient roadmap for regional expansion.”

ASB Capital has already secured exclusive partnerships with leading global asset managers to offer specialised products, including global equity funds and exchange-traded funds (ETFs). The firm also plans to offer private market products, such as private equity, venture capital, and real estate.

With a strong focus on the MEA region, ASB Capital is well-positioned to capitalise on the growing demand for specialised asset management and advisory services. The firm’s operational backbone, ASB Capital Services, is located in Bahrain and will support economic growth and reinforce the country’s position as a hub for Islamic finance and asset management.

ASB Capital aims to become one of the top 10 asset managers in the region, providing innovative investment solutions to meet the evolving needs of its clients.

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