BMI 28 November 2007...  BMI today announced today the launch of its new range of Fixed Deposits (FD), offering customers flexibility and choice in their investment options. Amongst the new range being offered are a fixed rate deposit for a limited period and a floating rate deposit that tracks the 3 month floating rate (LIBOR)

Announcing the new offering, Andrew Bainbridge, Chief Executive Officer of BMI said:

“These exciting new products offer our customers better saving options and a wider choice. Offering fixed or floating rate options to our customers gives them control over their savings.

The fixed rate deposit, currently on offer for a term of 18 months, provides customer with an attractive 5% interest on a minimum deposit of BD 5,000. The floating rate deposit is a long term deposit (6 months to 5 years) with an interest rate that tracks the 3 month floating index (LIBOR) with a discounted margin determined by the term of the deposit selected. As an additional feature, customers investing in this scheme can deposit using a variety of currencies including the Bahraini Dinar, US Dollar, Great Britain Pound and Euro. The minimum customer deposit is BD 5,000 with the interest payment on maturity.

BMI also offers a special fixed rate deposit that offers customers an upfront interest payment. The interest rate for this is set by treasury and the minimum deposit is BD 5,000. The term for this deposit is similar to that of the regular fixed deposits offered by the bank and customers can deposit using a variety of currencies including the Bahraini Dinar, US Dollar, Great Britain Pound and Euro.

BMI currently offers its customers a range of retail products and services including SME Banking, Mortgage, Consumer and Vehicle Loans, Credit cards, savings and current accounts. In addition to Retail Banking, BMI offers Corporate Banking, Private Banking, Islamic Financial Services, Global Trade Services, Financial Institutions & Correspondent Banking and Treasury Services.