Al Salam Bank Launches "ASB Pay Business" - a Shari'a-Compliant Digital POS Platform

Al Salam Bank has launched ASB Pay Business, a Sharia-compliant digital point-of-sale platform that enables merchants to accept contactless and mobile payments without conventional interest-bearing arrangements.

The solution offers fully digital payment processing aligned with Islamic finance principles, providing merchants with a POS platform that handles card payments, mobile wallet transactions, and contactless payments while maintaining Sharia compliance across all commercial terms and fee structures.

ASB Pay Business is designed for small and medium businesses in Bahrain, providing an accessible payment acceptance solution that eliminates the need for traditional POS terminal hardware. Merchants can accept payments through digital devices, reducing setup costs and simplifying the onboarding process.

The launch positions Al Salam Bank as a pioneer in Islamic merchant payment technology in Bahrain, addressing a gap in the market where existing POS solutions are typically offered under conventional banking arrangements. For merchants seeking Sharia-compliant business relationships, ASB Pay Business provides an alternative that aligns with their values.

The platform complements Bahrain's regulatory mandate requiring all commercial establishments to offer digital payment acceptance. By providing a Sharia-compliant option, Al Salam Bank ensures that Islamic businesses can meet this requirement through a solution that is consistent with their broader financial arrangements.

The launch follows Al Salam Bank's recognition as Bahrain's Bank of the Year by The Banker Magazine, reinforcing the bank's position as an innovative Islamic banking institution.