Alinma Bank and the International Academy and Al Ghad international medical sciences colleague Sign Education Financing Agreement

Alinma Bank and the International Academy & Al-Ghad international medical sciences colleague have entered into an agreement through which Alinma will provide education financing for the organization’s students. The International Academy & Al-Ghad international medical sciences colleague joins the growing list of major colleges and other educational and training institutions benefiting from Alinma’s education financing service.

The agreement was signed on Saturday, July 24, 2010 at Alinma’s head office in Riyadh, by Mr. Fahad Al-Semari, General Manager of Retail Banking at Alinma and Dr. Muhamad AlMujalli, Advisor and General Supervisor of Education and Academic Affairs at the International Academy and Al-Ghad international medical sciences colleague. Through the service, partners (clients) are able to pay tuition fees over the course of 12 convenient monthly installments. No administrative charges or other extra fees are assessed. The service relieves partners of the burden of paying a lump sum all at once and is available for both Saudis and expatriates across all educational levels, from kindergarten through graduate studies.

On this occasion, Mr. Al-Semari expressed how pleased he was that Alinma could provide this service to another outstanding educational organization. “We are happy for this strategic partnership with the International Academy and Al-Ghad international medical sciences colleague and the opportunity to contribute together in advancing education in the Kingdom,” said Al-Semari. “This agreement will hopefully contribute to the necessary development of a new generation of health science professionals.”

Dr. AlMujalli noted that the agreement would assist in building Saudi society by promoting and facilitating education. “The academy and colleges have more than 50 branches and are considered amongst the pilot educational organizations in the area of medical education and training in the Kingdom, offering bachelor degrees and diplomas in various medical specializations, medical laboratory work, radiology, nursing and health administration.

Alinma Bank is a Saudi joint-stock company, incorporated with SAR 15 billion in share capital. It provides a range of fully Shariah-compliant retail and corporate financing services. At present, the bank serves its partners through 26 branches located in the cities of Riyadh, Jeddah, Taif, Madinah, Khamis Mushayt, Jubail, Hofuf and Dammam. Moreover, several more branches are under construction in Riyadh, Al-Ahsa, Dammam, Al-Kharj, Buraida, Onaiza, Hail, Arar, Jouf, Najran, Abha, Jizan, Tabuk and Hafr Al-Batin. Alinma also provides self-service options via a network of more than 146 ATMs, and its Alinma Phone (8001208000), Alinma Internet ( and Alinma Mobile services.