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Prince Faisal Ibn Bandar to Launch Alinma Banks Qaseem Region Operations

Prince Faisal Ibn Bandar to Launch Alinma Banks Qaseem Region Operations

1 Muharram 1433 H - 26 October 2011 G

HRH Prince Faisal Ibn Bandar Ibn Abdulaziz, the governor of the Qaseem region of Saudi Arabia, will inaugurate Alinma Bank’s operations in Qaseem and officially launch its branches there on Monday, November 28, 2011 at the Alinma branch in the city of Buraidah.

In a statement released about the event, Mr. Abdulmohsin Al-Fares, the CEO of Alinma Bank, expressed gratitude to HRH Prince Faisal for his patronage of the launch activities. "Alinma Bank would like to thank HRH Prince Faisal for his generous support and for taking the time to inaugurate Alinma’s official operations in the Qaseem region,” said Al-Fares. “This achievement should motivate the bank and all of its employees to strive even harder in our mission to provide the very best banking services to citizens and residents of the Kingdom and to contribute to the ongoing development of the Kingdom's economy, which has been expertly managed under the generous guidance of the government of the Custodian of the Two Holy Mosques and HRH the Crown Prince."

Mr. Al-Fares added that regional expansion was key to the bank’s future success and that by launching operations in Qaseem, the bank would have the opportunity to reach out to an important part of the Kingdom and to directly serve them via the bank’s Shariah-compliant financial solutions, which are backed by some of the industry’s best and latest banking technology. Al-Fares also said that Alinma would continue its expansion across the Kingdom.

It is worth mentioning that Alinma Bank began its commercial operation during the second half of 2009 and managed, within a short period of time, to garner a number of international awards and to obtain several important certifications. In 2011, the bank was named the best Islamic financial institution in the Kingdom of Saudi Arabia at the London Sukuk Summit and in 2009 Alinma received the “Power Deal of the Year” award from Project Finance magazine for its participation in the financing of the Rabigh Independent Power Plant project. Alinma Bank is also ISO certified for online banking information security services and is PCI-DSS certified for the security of its card transactions.

Alinma Bank has an independent Shariah board consisting of a number of experts in economics and the jurisprudence of financial transactions. All transactions of the bank are controlled and approved by the Shariah Board.

At present, Alinma has more than 62 branches, including branches for both men and ladies in the cities of Buraidah, Onaizah, and Rass. The bank also offers a broad range of electronic services including Alinma Internet (www.alinma.com), Alinma Mobile, Alinma Phone (8001208000) and a kingdom-wide network of more than 365 ATMs.

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