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Alinma Bank and Al-Khaleej Training and Education Company Sign Education Financing Agreement

Alinma Bank and Al-Khaleej Training and Education Company Sign Education Financing Agreement

29 Safar 1432 H - 02 February 2011 G

Alinma Bank and Al-Khaleej Training and Education Company 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. Moreover, students participating in the program will be granted a special discounted tuition rate.

The agreement was signed by Mr. Fahad Al-Semari, who is the general manager of Alinma’s Retail Banking group, and Eng. Al-Walid Al Diriaan, the CEO of Al-Khaleej Training and Education Company. A number of other representatives of the two parties were also in attendance.

Speaking on the occasion, Mr. Al-Semari said that the agreement with Al-Khaleej Training and Education Company represented a fruitful cooperation with a major, leading Saudi company in the field of training and education services. He added that the company has a consistent track record of effectively training and educating qualified young Saudis.

Mr. Al-Semari also stressed that through the agreement, Alinma was facilitating its partners in the acquisition of suitable education and that fulfilling such a role was in line with the bank’s commitment to education as a foundation of life and society.

For his part, Eng. Al-Diriaan said that he was pleased with the agreement, which is the first of its kind between the company and Alinma Bank. He added that the agreement would bolster the company’s efforts to meet the needs of its clients, who wish to continue their educations and achieve better futures without problems related to the financing of their educations.

It  is worth mentioning that Alinma Bank launched its commercial operations in July of 2009, providing fully Shariah-compliant products and services. The bank now has more than 38 branches throughout Kingdom. Alinma also offers its services through its 24-hour, electronic channels, which include Alinma Internet (www.alinma.com), Alinma Phone (8001208000), Alinma Mobile, and Alinma’s kingdom-wide network  of over 210 ATMs.

Al-Khaleej Training and Education Company owns the franchise rights for the New Horizons Centers for Computer Training as well as the franchise rights for Direct English Centers in Saudi Arabia and the Middle East. The company has more than 82 training and education centers throughout the Kingdom and has experience in the market that extends back to 1993. It also has an 18-year track record of award-winning performance in the region.

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