Alinma Bank

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Alinma Bank
[[]] company_type = Public
Type
Founded	2008
Headquarters	Riyadh, Saudi Arabia
Key people	Abdulaziz Ibn Abdullah Al-Zamil, President of Board of Directors num_employees = N/A
Industry	Finance
Products	Financial Services
Website	http://www.alinma.com/

Alinma Bank is a Saudi joint stock company formed in accordance with Royal Decree No. M/15 dated 28/2/1427H (28/3/2006) and Ministerial Resolution No. 42 dated 27/2/1427H (27/3/2007). The share capital of Alinma Bank is SAR 15 billion consisting of 1.5 billion shares with a nominal value of SAR 10 per share.

[edit] Founders

Alinma Bank’s founding shareholders are as follows: The Saudi Arabian General Investment Fund (GIF), the Saudi Arabian General Retirement Fund (GRF) and the Saudi Arabian General Organization for Social Insurance (GOSI). Together they represent 30% of the bank’s capital, or SAR 4.5 billion, with equal shares. The remaining 70% of the bank’s capital is to be offered for public subscription.

[edit] Founding Committee

The founding committee of Alinma Bank comprises members from the Saudi Arabian General Investment Fund (GIF), the Saudi Arabian General Retirement Fund (GRF), and the Saudi Arabian General Organization for Social Insurance (GOSI). It is the committee’s responsibility to establish procedures and controls necessary in order to prepare Alinma Bank for its initial public offering (IPO). In addition, the founding committee is responsible for the creation and subsequent management of the legal and organizational arrangements necessary in order to establish the bank.