Alinma Bank was recently recognized with the Deal of the Year 2015 award by Islamic Finance News magazine, a Red Money publication. A leading media outlet dedicated to the coverage of Shariah-compliant banking and finance, IFN honored Alinma, along with 27 other local and international banks and financial institutions, for financing Saudi Aramco in 2015 with revolving credit facilities valued at $10 billion. Alinma played a major role in the agreement, functioning as one of the book runners and mandated lead arrangers.
Speaking about the award, Alinma Bank CEO, Mr. Abdulmohsen Al-Fares noted that Alinma was always eager to participate in the financing of important, high-quality, economic projects and he lauded the bank’s partnership with Saudi Aramco.
“The banking sector is a key pillar of the national economy; and it plays a pivotal role in economic development,” said Al-Fares. “Alinma Bank participated in this financing because of its belief in the worthiness of Aramco’s projects and the need to ensure that Aramco is properly supported in the expansion and development of its business.”
“This award is yet another testament to the soundness of Alinma’s efforts as it works to continually address the needs of its partners and to support and strengthen the national economy.”
It is worth mentioning that the Red Money group is a global media conglomerate located in Malaysia and Dubai, which focuses on news and analysis related to Shariah-compliant banking and finance. Red Money also organizes events and conferences worldwide