Alinma Bank is a Saudi joint stock company formed in accordance with Royal Decree No. M/15 dated 28/2/1427H (28/3/2006) and Ministerial Resolution No. 42 dated 27/2/1427H (27/3/2007). 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 of 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 exceeded 220 in number by February 2011, and through its alternative channels, Alinma Internet, Alinma Phone and Alinma Mobile.
Location
The Alinma head office is located in Al-Anoud Tower on King Fahad Highway in the Saudi capital, Riyadh.
External links
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