Alinma Bank

Alinma Bank
مصرف الإنماء

Type	Public
Industry	Finance
Founded	2006 (2006)
Headquarters	Riyadh, Saudi Arabia
Key people	Abdulaziz Ibn Abdullah Al-Zamil, Chairman
Products	Islamic Financial Services
Owner	Public Investment Fund-10%, General Organization for Social Insurance-10%, Public Pension Agency-10%, public shares-70%
Slogan	To be your financial partner of choice
Website	www.alinma.com

Alinma Bank (Arabic: مصرف الإنماء‎) is a Saudi joint stock company formed in accordance with Royal Decree No. M/15 dated 28 March 2006 and Ministerial Resolution No. 42 dated 27 March 2007. The bank was established with share capital of SAR 15 billion, consisting of 1.5 billion shares with a nominal value of SAR 10 per share.

Ownership Structure

Alinma Bank’s founding shareholders are as follows: The Saudi Arabian Public Investment Fund (PIF), the Saudi Arabian Public Pension Agency (PPA) and the Saudi Arabian General Organization for Social Insurance (GOSI). Together they represent 30% of the bank’s share capital, all with equal shares. The remaining 70% of the bank’s shares were offered for public subscription in April 2008.

Bank Activities

Alinma provides a comprehensive range of Shariah-compliant retail and corporate banking and investment services. The bank serves its clients through a nationwide network of branches as well as through a network of ATMs, which are 1000 in number as of 15th December 2014, and through its alternative channels, Alinma Internet, Alinma Phone, Alinma Mobile and Alinma App for Smart Devices.

Location

The Alinma head office is located in Al-Anoud Tower on King Fahad Highway in the Saudi capital, Riyadh.

External links

This article is issued from Wikipedia - version of the Tuesday, April 21, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.