Alinma Signs Education Financing Agreement with Rabigh Wings Aviation Academy

Alinma Bank and Rabigh Wings Aviation Academy have entered into an agreement through which Alinma will provide education financing for the organization’s students. Through the service, partners (clients) are able to pay tuition fees over the course of 12 convenient monthly installments. No administrative charges or other extra fees are assessed. The agreement represents Alinma’s ongoing effort to partner with major colleges, institutes and educational centers in the Kingdom of Saudi Arabia in order to assist in the educational development of the Kingdom’s youth.

The signing ceremony was held on Tuesday, February 15, 2011 at Alinma Bank’s head office in Riyadh. In attendance were officials from both parties. Rabigh Wings Aviation Academy was represented by HRH Prince Turki Ibn Migrin Ibn Abdulaziz, CEO of the academy, while Alinma Bank was represented by Mr. Fahad Al-Semari, general manager of Alinma’s Retail Banking group.

Speaking on the occasion, Prince Turki Ibn Migrin praised the conclusion of the agreement, which, he noted, is the first of its kind between the academy and the bank. He also emphasized the academy’s efforts to assist students in attaining educational excellence by making education accessible to them and by working to reduce financial burdens related to the cost of education.

For his part, Mr. Al-Semari said that Alinma would continue to seek to facilitate the financing of education for its partners (clients), as education forms the foundation of future success. Said Al-Semari, “We are delighted to have Rabigh Academy as a strategic partner. Together we hope to contribute to educational excellence in the Kingdom by providing more opportunities for students of all levels across the Kingdom.” Al-Semari also noted that the agreement would hopefully positively impact the quality and number of graduates in the field of aeronautical sciences.

It is worth mentioning that Alinma Bank is the only bank in the Kingdom that offers an education financing service. Through the fully Shariah-compliant service, Alinma partners are able to finance their educations without paying extra fees or charges and without having to make inconvenient, lump-sum payments to their respective educational institutions. The service also gives partners a wide selection of Alinma-approved educational entities across all levels of study and is available to both Saudi nationals and expatriates. Partners may apply for the service by visiting any of Alinma’s 40 branches across the Kingdom. Alinma also serves its partners through its 24-hour self-service channels -- Alinma Internet (, Alinma Phone (8001208000), Alinma Mobile, and Alinma’s kingdom-wide network of over 222 ATMs.