GulfBase Live Support
Leave a message and our representative will contact you soon
13/12/2016 05:53 AST
ALINMA Bank walked away with two major awards at the 2016 Islamic Business & Finance Awards, held last Nov. 23 at the Emirates Towers Hotel in Dubai, UAE and hosted by Islamic Business & Finance magazine.
For its SR 3.6 billion Shariah-compliant financing of the Alinma Jeddah Economic City Fund, the bank and its Corporate Banking division were recognized with the Best Structured Finance and Best Capital Structure awards at the event.
Speaking about the most recent recognition of Alinma’s contributions to project finance in Saudi Arabia, Alinma Bank CEO & Managing Director, Abdulmohsen Al-Fares, said that the bank was always eager to support the local economy.
“Alinma Bank has, since its establishment, sought out projects that bring a net benefit to the kingdom,” said Al-Fares. “Because we have the capability to engage in such financing efforts, it is only right that we participate in something as important as the Jeddah Economic City project, which will have a significant economic impact in Jeddah, the entire western region of Saudi Arabia and the broader kingdom at-large.”
Jeddah Economic Company (JEC) is the owner and developer of the Jeddah Economic City project. To help finance the monumental effort, which has been spearheaded by Prince Alwaleed Bin Talal, JEC cooperated with Alinma Investment Company (AIC), a wholly-owned subsidiary of Alinma Bank, to launch the Alinma Alinma Jeddah Economic City Fund. The fund is a closed-end, private, Capital Market Authority (CMA) approved, Shariah-compliant, real estate investment fund. AIC is the manager of the fund, which is valued at SR8.4 billion, SR3.6b of which was provided through the Alinma Bank financing.
When completed, Jeddah Economic City will feature the iconic Jeddah Tower, a soaring structure that is expected to reach one kilometer in height, which would make it the tallest building in the world, surpassing the current record holder, Burj Khalifah tower in Dubai, UAE.
Saudi Gazette
04/01/2018
AS part of its ongoing expansion, and in an effort to ensure that it can adequately delivery its exemplary, Shariah-compliant products and services to individuals across the Kingdom, Alinma Bank rece
Saudi Gazette
22/11/2017
ALINMA Bank, in cooperation with Alinma Investment Company, recently sponsored and organized a seminar for the discussion of Shariah issues related to the practice of short-selling securities. The ev
Saudi Gazette
17/10/2017
Alinma Bank has announced the achievement of a net profit of SR542 million during the third quarter of 2017. This represents an improvement over the SR312 million net profit earned for the same perio
Saudi Gazette
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
Ticker | Price | Change |
---|---|---|
FAB | 11.95 | 0.20 (1.70 |
NCB | 64.98 | 0.35 (0.54 |
RJHI | 76.03 | 0.78 (1.03 |
EMIRATESNBD | 10.65 | 0.05 (0.47 |
SAMBA | 26.98 | 0.59 (2.23 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News