Alinma Bank Shares Its Shariah Research with the Public

As part of its corporate social responsibility efforts, and in line with its strong commitment to raising the profile of Shariah-compliant banking and finance worldwide, Alinma Bank has launched a first-of-its-kind smart device application that shares, with the public free of charge, all of Alinma’s collective Shariah rulings regarding banking and finance.  Through the application, users can search Alinma’s vast compendium of Shariah decisions, sort them by category, create favorite lists and share rulings with others.


Speaking about the launch, Sheikh Dr. Abdulrahman Al-Atram, Chairman of the Alinma Bank Shariah Board, focused on the bank’s ongoing commitment to transparency and support for the broader Islamic banking and finance industry.


“At Alinma Bank, we guarantee our partners (customers) only the most thoroughly researched and vetted Shariah rulings; and it is, therefore, only right and proper for us to share these rulings with the public for the common benefit of all,” said Al Atram.  “And in order for the industry to grow and thrive, information will have to be shared; and Alinma is proud to take the lead in this regard.”


Alinma is unique among Saudi banks in that its Shariah board was established immediately following the bank’s inception, allowing Alinma to have Shariah oversight of all transactions, functions, processes and procedures from day one. This is all ensured through the work of a full-time Shariah secretariat.


Alinma’s emphasis on transparency and engendering trust among its partners has paid off recently with Alinma being named the 2017 "Most Trusted Islamic Banking Brand in Saudi Arabia"  by Global Brands Magazine.