Alinma Bank Hosts Informational Meeting for Its Education Financing Service and Signs Cooperative Agreement with Educational Institutions

Alinma Bank recently held an open meeting with managers and owners of private schools in Riyadh and Jeddah to share information and answer questions about its recently launched education financing service, which is available to partners free of administrative fees or other charges.

Introductory remarks at the events were made by Mr. Fahad Bin Mohammed Al-Semari, general manager of Alinma’s retail banking group, in which he talked about the establishment and development of the bank as well as the bank’s efforts to fulfill its vision of becoming the preferred financial partner for all.

Mr. Ayman Bin Sulaiman Al-Gudaimi, Alinma’s director of sales for its retail banking group, made a presentation to participants on the details of the education financing service. He stressed that the service is fully Shariah-compliant and that schools would benefit from the stabilization of cash flow that the service would create.

Mr. Al-Gudaimi added that the service would exempt the partners from paying large sums of money at once and would give them freedom to choose from any of the institutions participating in the program. The service is available for both Saudis and non-Saudis and covers all educational levels from kindergarten through undergraduate university studies.

Alinma Bank has also recently signed cooperative agreements with Dar Al-Hekma College and Buragi College for Medical Sciences (Sari Branch) in the city of Jeddah for them to participate in the bank’s education financing program. Both colleges have been added to the list of accredited educational institutions from which partners may select.