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Alinma Bank to Participate at Cityscape Jeddah Exhibition

Alinma Bank to Participate at Cityscape Jeddah Exhibition

4 Rajab 1432 H - 06 June 2011 G

Alinma Bank has announced its participation at the Jeddah International Exhibition for Urban Development and Real Estate Investment (Cityscape Jeddah), which will be held under the auspices of HRH Prince Mishal Ibn Majed Ibn Abdulaziz, Jeddah Governor, from June 11 through June 13, 2011. The event will be held at the Jeddah Center for Forums & Events with the participation of major real estate development companies, financing agencies and engineering firms. For Alinma, the exhibition represents an opportunity to communicate with the largest gathering of individuals and institutions directly related to real estate.

Alinma Bank will have a dedicated display at the event through which a range of Shariah-compliant financing services and solutions will be offered to visitors along with special offers on real estate financing, including competitive profit margins.

Speaking about the event, Mr. Fahad Al-Semari, the general manager of the Retail Banking group at Alinma Bank, said that this would be the second year for Alinma to participate at Cityscape Jeddah. He noted that Alinma had been encouraged by the strong turnout of visitors at the bank’s display last year, and that the same was hoped for this year’s event. He added that the bank had consistently extended special offers to visitors of numerous events and exhibitions in which the bank has participated.

With regard to such special offers, Mr. Al-Semari said that at Cityscape Jeddah, the bank would provide several financing options for its partners commensurate with their needs, including the following: no down payment, no installment payments for 6 months and an extended repayment period of 30 years. Alternatively, partners may also choose an option that would allow them to forgo their first installment payment while enjoying a competitive, fixed, profit margin for a period of up to 15 years. Other real estate financing advantages include exemption from administrative fees, no need for a guarantor, rapid application turnaround, financing availability extended to both Saudis and expatriates and the option of joint financing between non-familial parties, which was introduced by Alinma Bank for the first time in Saudi Arabia.

It is worth mentioning that Alinma Bank provides comprehensive Shariah-compliant financing and investment solutions to its partners across 54 branches for both men and ladies. Additionally, the bank serves its partners through a full range of around-the-clock, electronic channels such as Alinma Internet (www.alinma.com), Alinma Mobile, Alinma Phone (8001208000) and a kingdom-wide network of more than 300 ATMs.

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