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Alinma Bank Launches Online Version of Its Global Limit Service

Alinma Bank Launches Online Version of Its Global Limit Service

24 Muharram 1435 H - 27 November 2013 G

Alinma Bank has announced a new extension of its innovative Global Limit financing service. Bank partners (customers) are now able to apply for Global Limit financing online, through the bank’s Alinma Internet (www.alinma.com) and Alinma Mobile electronic channels.

Global Limit was launched by Alinma in 2010 as a first-of-its-kind service in the Kingdom.With Global Limit, partners request and are given a total, or “global”, amount of financing that partners can then apply, at their discretion, to various financing categories offered by the bank (e.g. education, auto, real estate, shares). This gives partners the freedom to manage their personal finances in a manner consistent with their needs, aspirations and income levels.

With the new online service, partners are no longer required to visit bank branches. Rather, they complete a simple electronic form and are quickly informed of their financing ceiling, or “Global Limit.” From there, partners are free to select types of financing that suit their needs as well as the appropriate financing term. Furthermore, partners can adjust, at any time, the amounts of financing allocated to the various financing categories.

Speaking about the new service, Mr. Abdulmohsen Al-Fares, CEO of Alinma Bank, said that Global Limit represented a new and distinct concept, uniquely offered by Alinma Bank in the Saudi banking market. He noted that the service would assist partners in their planning and would help them optimize the use the financing limit extended to them. He added that the detailed Global Limit financing report received by the partners would help them choose between short, medium or long-term financing in a clear and simple manner.He further emphasized that the service was available free of charge and that it promoted the concepts of transparency and clarity.

Alinma Bank, the most recent bank to open in Saudi Arabia, leverages the latest in banking technology to provide its partners with exemplary service. As such the bank offers a full range of electronic channel services including its smart phone application, which is compatible with all versions of Apple, Android, Windows Phone, and Blackberry operating systems. The bank also offers its distinctive services through a network of 95 branches and more than 800 ATMs across the Kingdom.

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