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HRH Prince Mohammed Ibn Fahad Ibn Abdulaziz Officially Launches Alinma Banks Eastern Region Operations

HRH Prince Mohammed Ibn Fahad Ibn Abdulaziz Officially Launches Alinma Banks Eastern Region Operations

23 Rajab 1432 H - 25 June 2011 G

On behalf of HRH Prince Mohammed Ibn Fahad Ibn Abdulaziz, governor of the Eastern region of Saudi Arabia, HRH Prince Jalawi Ibn Abdulaziz Ibn Masa’ad, deputy governor of the Eastern region, will officially inaugurate Alinma Bank’s operations and the launch of its branches in the region on Wednesday, June 29, 2011 (27 Rajab 1432). The ceremony will be held at the bank’s branch in the Al-Rayyan district of Dammam.

Speaking about the occasion, Mr. Abdulmohsen Al-Fares, the CEO of Alinma Bank, emphasized, in a recent statement, the importance of the milestone. "This achievement should encourage all of us at Alinma Bank to exert more effort to provide the best banking services to the people of this generous country and to contribute to the development of the Kingdom's economy,” said Al-Fares. “Alinma will continue to strive to advance the progress and prosperity witnessed by the Kingdom under the generous guidance of the Custodian of the Two Holy Mosques, HRH the Crown Prince and HRH the Second Deputy Premier."

Mr. Al-Fares explained that the official launch of the bank’s business and branches in the Eastern region stood as evidence of Alinma’s belief in the importance of the region, which is rooted in tourism and the broader economy of the Kingdom. The launch, he said, is part of the bank’s strategy to expand its branch network to cover all regions of the Kingdom, in order to provide bank partners (clients) with a comprehensive range of Shariah-compliant banking solutions using the latest in banking practices and technology.

Alinma Bank is a Saudi joint stock company that was established with SAR 15 billion in share capital. The bank launched its operations in the second half of 2009 and now has a network of 54 branches for men and ladies in addition to a full range of electronic channels, including Alinma Internet (www.alinma.com), Alinma Mobile, Alinma Phone (8001208000) and a kingdom-wide network of more than 302 ATMs.

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