Alinma Bank Recognized for Excellence in Islamic Banking

Abdulmohsen Al-Fares Named CEO of the Year

Alinma was recognized with the Finnovex award for “Excellence in Islamic Banking” at a ceremony in Dubai on March 19, 2019 as part of the broader Finnovex conference, which runs a GCC-wide awards program focused on the financial sector and the emerging role of FinTech. Alinma Bank CEO, Mr. Abdulmohsen Al-Fares, was also named “CEO of the Year.”


This marks the second time in the past year that Al-Fares has been recognized for his leadership at Alinma.  In September 2018, Al-Fares was likewise named “CEO of the Year” by the Global Islamic Finance Awards, a prestigious program that recognizes significant contributions made to the industry by corporate and government leaders alike.


Speaking about the awards, Al-Fares thanked Finnovex and pledged to continue his work as an advocate for Shariah-compliant banking and overall excellence in banking.


“It is indeed an honor to receive these awards, and I thank Finnovex for recognizing not only me, but Alinma Bank, for all the hard work and dedication that has gone into making the bank a success story for Saudi Arabia, and for the Islamic economy,” said Al-Fares.  “At Alinma we are very much mission-driven, and we use every advantage at our disposal – advanced technology, skilled staff, expert strategy and planning, etc. – to ensure that our mission continues and that we continue to set an example for our industry and deliver quality to all those we serve.”


Alinma Bank has an ongoing commitment to digital transformation and has made major strides in recent years activating its digital strategy.  Most recently, Alinma launched Apple Pay in support of broader cashless payment efforts in the kingdom and as a way to deliver convenience to its partners.  It has also launched 24/7, fully digital branches; and earlier in 2017, Alinma migrated its data warehouse from an active-passive model to an active-active model that prevents catastrophic systems failures, and ensures service continuity for bank partners (customers).


Other self-service options offered by Alinma Bank include Alinma Internet (, Alinma smart device applications, Alinma Phone (8001208000), Alinma Mobile (WAP), and its network of more than 1485 ATMs across the kingdom.