Tuesday, 24 November 2009 | 01:42 UAE time
COMPANIES
Alinma Bank
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COMPANY DESCRIPTION
Alinma Bank was founded by three Saudi government funds in 2006 to become an Islamic retail and corporate bank.The Saudi Arabian General Investment Fund (GIF), the Saudi Arabian General Retirement Fund (GRF) and the Saudi Arabian General Organisation for Social Insurance (GOSI) were its founding shareholders.
In April 2008, the state-backed Islamic bank raised $2.8bn in Saudi Arabia’s biggest initial share sale for five years. The bank in January reported a net income of $104m for the period from May 26 to Dec 31, 2008.
In March, the bank began a series of specialist training programmes for branch managers and staff ahead of the bank’s full operational launch, which is expected to take place at the end of the second quarter or early third quarter of 2009.
It has also started the process of furnishing and equipping branch offices that will be the first to open for business when the bank starts its commercial activities. When it launches, Alinma will have 15 branches, including branches for men and women, distributed throughout the Kingdom.
KEY INFORMATION
Industry
Commercial Banks
Address
Al Anoud Tower, King Fahad Road, 66674, Riyadh, Saudi Arabia
T
966 1 2185555
F
966 1 2185000
E
W
COMPANY OVERVIEW
| Ownership | Type | Established on | Employees |
|---|---|---|---|
| Public | Joint stock | 26 May 2008 | - |
MAJOR SHAREHOLDERS
| Name | Country | ||
|---|---|---|---|
| General Organization for Social Insurance - Saudi Arabia | companies | 10 | Saudi Arabia |
| Public Pension Agency | companies | 10 | Saudi Arabia |
| Public Investment Fund | companies | 10 | Saudi Arabia |
OFFICERS
| BOARD OF DIRECTORS | Position |
|---|---|
| Mohamed Bin Yousuf Bin Mohamed Al Naghi | Board Member |
| Abdulaziz Bin Abdullah Hamad Al Zamil | Chairman |
| Suliman Bin Mohammed Al Turki | Board Member |
| Saad Bin Ali Al Kathiri | Board Member |
| Adel Bin Mohammed Al Zaid | Board Member |
| Saad Bin Atia Al Ghamdi | Board Member |
| Abdulrahman Bin Hamad Al Harkan | Board Member |
| MANAGEMENT | Position |
| Abdulmohsen Abdulaziz Al Fares | Chief Executive Officer |
| Mohammed Taher Babuker | Chief Financial Officer |
| Imad Bin Abdulrahman Al Biteri | General Manager - Head of Corporate Banking |
| Fahed Bin Mohammed Al Simari | General Manager - Head of Retail |
| Ibrahim Bin Suleiman Al Sayari | General Manager - Head of Operations and Information Technology |
| Mohammed Bin Abdullah Al Awad | General Manager - Head of Marketing |
| Suleiman Bin Ali Al Hodeif | General Manager - Head of Human Resources |
| SHARIA BOARD | Position |
| Abdulrahman Bin Saleh Al Atram | Chairman |
| Abdullah Bin Wakil Al Shaikh | Member |
| Suleiman Bin Turki Al Turki | Member |
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