Bank Albilad () is an

Islamic Islam is an Abrahamic religions, Abrahamic monotheistic religion based on the Quran, and the teachings of Muhammad. Adherents of Islam are called Muslims, who are estimated to number Islam by country, 2 billion worldwide and are the world ...

Saudi bank established in 2004.

History

The bank was established in 2004. The brothers Mohammed and Abdullah Ibrahim Al Subeaei are significant stakeholders. In 2009, the bank renewed its entire inventory of ATM machines. Bank Albilad is a Saudi joint stock company,

headquartered Headquarters (often referred to as HQ) notes the location where most or all of the important functions of an organization are coordinated. The term is used in a wide variety of situations, including private sector corporations, non-profits, mil ...

in Riyadh. In May 2022 its shareholders approved an increase in capitalization to 10 billion Saudi Riyals through a 1-for-3 issue of shares. Enjaz Banking Services is the

remittance A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes ...

department of Bank Albilad. In February 2021, Nasser Mohammed Al-Subeaei was appointed chairman of the board of directors and Fahd Abdullah Bindekhayel as Vice Chairman.

Services

Bank Albilad offers products and services complaint with

sharia Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on Islamic holy books, scriptures of Islam, particularly the Quran, Qur'an and hadith. In Islamic terminology ''sharīʿah'' ...

(Islamic) law. The bank provides

retail banking Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate ...

products, business products,

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

products through the bank investment arm “Albilad Capital ”, international

services through the bank Remittance Arm “Enjaz ”.

Board of directors

* Nasser bin Mohammed Al-Subeaei. (Chairman of the Board of Directors) * Adeeb Mohammed Abanumai. (Vice Chairman of the Board) * Zeyad Othman Alhekail. (member) * Abdulaziz Mohammed AlOnaizan. (member) * Khalid Abdul Rahman AlRajhi. (member) * Haitham Sulaiman AlSuhaimi. (member) * Nasser Sulaiman Abdullah AlNasser (member) * Mohammed Abdulrahman Abdulaziz AL Rajhi (member) * Haitham Mohammad Abdulrhman Alfayez (member) * Muadh Abdulrahman Hasan Alhusaini (member)

Sharia Committee Members

Sheikh Sheikh ( , , , , ''shuyūkh'' ) is an honorific title in the Arabic language, literally meaning "elder (administrative title), elder". It commonly designates a tribal chief or a Muslim ulama, scholar. Though this title generally refers to me ...

Abdullah Al-Ammar * Sheikh Mohammed Al-Osaimi * Sheikh Yousef Al-Shubaily

Objective

The stated objective of Bank Albilad is to provide all Islamic Sharia compliant banking services. The bank has, as part of its organizational structure, a Sharia Department to be in charge of the follow-up and monitoring of the implementation of the Sharia decisions issued by the Sharia Committee. The bank has worked on launching a number of projects to serve people with disabilities. The bank has rehabilitated a branch equipped with all the necessary capabilities to serve people with special needs, which enables people with motor, hearing, and visual disabilities to carry out all banking operations with complete ease. Dictionary of Bank Transactions in Sign Language In cooperation with specialists, the Bank has adopted a dictionary that contains terms of banking transactions in sign language to enable people with hearing disabilities to complete their transactions with confidence and ease. Adapting a number of the bank's automated teller machines around the Kingdom for the use of the blind, through the development of special software and guiding ground paths.

References