Minister of Housing Honors Alinma Bank

RIYADH, April 24, 2014 – The Minister of Housing, Dr. Shwaish Bin Saud Al Dhwaihy, has recognized Alinma Bank for its sponsorship of the Riyadh Real Estate, Housing & Urban Development Exhibition (RESTATEX), which will take place from 27 to 30 April 2014 at the Riyadh International Convention and Exhibition Center.  Dr. Dhwaihy presented the award to Alinma at a special RESTATEX preliminary session on housing that was held on April 22, 2014 at the King Fahad Cultural Center in Riyadh.

Speaking about the award, Mr. Abdulmohsen Al-Fares, the CEO of Alinma Bank, said that the bank was honored by the recognition and pleased to have the opportunity to support the drive for adequate housing for citizens.  He praised the government’s comprehensive efforts in this regard as well as its partnership with private sector institutions, which has helped increase the overall availability of housing.

Al-Fares went on to highlight the bank’s broad range of Shariah-compliant, financing options that have been designed to meet the needs of its partners (customers), whether they are interested in the purchase of villas, apartments, commercial real estate or land.

It is worth mentioning that Alinma Bank will extend special offers to RESTATEX attendees.  In particular, attendees who apply for financing at the event will receive competitive profit margins as well as flexible contractual options and repayment periods, which extend up to 30 years. Financing is available in amounts up to SAR 7 million, with no administrative fees.

Additionally, exhibition attendees are also eligible for joint financing without the requirement of there being a familial relationship between the individuals taking that financing. All types of real estate properties are available (villas, apartments, commercial properties, and land).  There is also a financing provision that waives repayment in the unfortunate event of death or total disability.