Bank Albilad

Bank Albilad (Arabic: بنك البلاد) is an Islamic Saudi bank established in 2004.

Bank Albilad
بنك البلاد
TypePublic
Tadawul: 1140
ISINSA000A0D9HK3 Edit this on Wikidata
IndustryFinance
Founded4 November 2004 (2004-11-04)
HeadquartersRiyadh, Saudi Arabia
Key people
Nasser Mohammed Al-Subeaei (Chairman), Abdulaziz bin Mohammed Al-Onaizan (CEO)
ProductsFinancial services
Total assets86,075,431,000 Saudi riyal (2019) Edit this on Wikidata
Number of employees
2,300+
One of Bank Albilad ATM

History

The bank was established in 2004. The brothers Mohammed and Abdullah Ibrahim Al Subeaei are significant stakeholders.[1]

In 2009, the bank renewed its entire inventory of ATM machines.[2]

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.[3]

Enjaz Banking Services is the remittance department of Bank Albilad.[4]

In February 2021, Nasser Mohammed Al-Subeaei was appointed chairman of the board of directors and Fahd Abdullah Bindekhayel as Vice Chairman.[5]

Services

Bank Albilad offers products and services complaint with sharia (Islamic) law. The bank provides retail banking products, business products, investment products through the bank investment arm “Albilad Capital ”, international remittance services through the bank Remittance Arm “Enjaz ”.[6]

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)

[7]

Sharia Committee Members
  • Sheikh Abdullah Al-Ammar
  • Sheikh Mohammed Al-Osaimi
  • Sheikh Yousef Al-Shubaily

[8]

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.[9]

See also

References
  1. "Saudi Rich List-Al Subeaei Family". Arabian Business. 19 August 2009. Retrieved 3 February 2023.
  2. "Abana to replace AlBilad teller machines". www.tradearabia.com. Retrieved 2023-02-03.
  3. "10 Billion capital".
  4. Ali Khan, Ghazanfer (December 18, 2017). "No VAT on expat remittances in Saudi Arabia, say bankers". Arab News.
  5. "Bank Al-Bilad appoints Nasser Al-Subeaei as chairman, Fahd Bindekhayel as vice chairman". Arab News. 2021-02-07. Retrieved 2021-02-07.
  6. "Bank Albilad Remittance Services". The Economic Times. 3 December 2015. Retrieved 25 July 2021.
  7. "Board of Directors".
  8. "Sharia Committee".
  9. Tadawul. "Bank Albilad". www.tadawul.com.sa. Retrieved 2019-01-30.
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