Alinma Recognized as Best Islamic Financial Institution in Kingdom by the Islamic Conferences Group

The Islamic Conferences Group named Alinma Bank the best Islamic financial institution in the Kingdom of Saudi Arabia and presented the bank with the award on the sidelines of the 2011 Sukuk Summit, which took place in London on June 13, 2011. The prize confirms Alinma’s commitment to excellence and leadership in the Shariah-compliant banking industry.

Mr. Abdulmohsen Al-Fares, the CEO of Alinma Bank, said that the award came as a result of the bank’s great efforts to establish itself as a pioneer in Shariah-compliant banking and that the award also stood as a testament to the efficacy of the bank’s application of its strategy.

Mr. Al-Fares added that since its inception, Alinma had strived to benefit from the past experiences of banks in the industry and to then break new ground through the application of best practices, implementation of state-of-the-art technology and acquisition and training of qualified and experienced staff. Furthermore, Al-Fares noted that the bank had introduced and would continue to introduce new products and services through its growing network of distinctive branches across all regions of the Kingdom and through its array of electronic channels.

Mr. Al-Fares also extended his thanks to Saudi Arabia’s government leaders as well as to the Saudi Arabian Monetary Agency and other regulatory authorities, all of which contributed to the establishment of the bank and have lent unlimited support to the financial sector in the Kingdom, which is a key pillar of the Saudi national economy.

It is worth mentioning that the Sukuk Summit event is the largest gathering of specialized companies in field of Shariah-compliant banking. Held for the 5th consecutive year, it attracts a large number of specialists from all over the world to consider opportunities and in areas of Islamic finance.