Alinma Bank Announces Its - Al-Had Al-Shamel - Financing Service

In its ongoing effort to provide its partners with convenient and innovative products and services, Alinma Bank has launched its “Al-Had Al-Shamel” service, which provides comprehensive assessments of partners’ credit ratings, immediately extending to them, upon approval, the maximum amount of financing for which they qualify as one lump sum. Partners may then access their financing in whole or in part without the hassle of any further paperwork or administrative procedures. Al-Had Al-Shamel gives Alinma partners the ability to meet their aspirations related real estate, car and other types of financing offered by the bank. With the ability to distribute their Al-Had Al-Shamel approved financing across multiple purchases, partners can have access to financing for any of the aforementioned products at their discretion and according to their needs.

Al-Had Al-Shamel is Shariah-compliant can be obtained by visiting any Alinma Bank branch or by calling Alinma Phone at 800.120.8000

. The approval process is quick and easy and includes a one-time only submission of necessary forms and documents. After approval, there are no further administrative hurdles and partners are free to utilize their financing as per their actual needs.

Mr. Fahad Bin Mohammed Al-Semari, General Manager of Retail Banking at Alinma, said that the Al-Had Al-Shamel service is a new and distinctive concept being introduced for the first time in the Saudi banking market by Alinma Bank, and that it allows partners to know the amount of financing available to them within moments of completing the application process. Mr. Al-Semari also noted that Alinma partners would receive a detailed report showing the total financing available to them across a range of time frames (i.e. short, medium or long-term financing). Partners would then have the choice to allocate the financing they have received to one or more products or services (e.g. real estate, car, education, etc.). Mr. Al Semari also added that Al-Had Al-Shamel is provided to bank partners free of charge.

Alinma Bank has recently launched financing services designed to enable partners to own their own homes, purchase cars and pay monthly tuition installments (note: tuition financing is provided over the course of one full year without additional fees or charges).

Individuals interested Al-Had Al-Shamel can get more information by visiting any of the bank’s branches or by calling Alinma Phone toll-free at 800.120.8000