Bank Albilad ( ar, بنك البلاد) is an Islamic Saudi bank established in 2004.

History

Bank Albilad is a Saudi joint stock company, headquartered 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 wit ...

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

sharia Sharia (; ar, شريعة, sharīʿa ) is a body of religious law that forms a part of the Islamic tradition. It is derived from the religious precepts of Islam and is based on the sacred scriptures of Islam, particularly the Quran and the H ...

compliant products and services. 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. Banking servi ...

products, business products,

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

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

* His Eminence Sheikh: Prof. Dr. Abdullah Al-Ammar * His Eminence Sheikh: Dr. Mohammed Al-Osaimi * His Eminence Sheikh: Prof. Dr. Yousef Al-Shubaily

Objective and Market focus

The 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.

References