RIYADH: Alinma Bank, a joint stock company with a capital of SR15 billion, has announced the opening of its first nine branches, including three women’s branches. The bank, continues its aggressive expansion plan across the country, as it works to open six additional branches in other Saudi cities over the next two weeks.

Speaking on the occasion here yesterday, Abdulmohsen Al-Fares, CEO of Alinma Bank, said, “We were pleased to announce the launch of our operation today and the provision of various Shariah-compliant banking services.” The new branches will be opened in Dammam, Hofuf, Jubail and Khamis Mushayat, while those now fully operational are in Riyadh, Jeddah and Taif. The total number of our branches will be 15 within two weeks.” The plan is to add 20 more branches before 2011 in an effort to ensure greater accessibility to customers. Al-Fares said that Alinma’s branch office locations were strategically selected and were easily accessible.

“Each branch also has an area dedicated to self-service channels where customers can open an account, make personal financing requests and access a range of other services in an easy and automated manner,” said the Alinma chief.

He said that Alinma’s ultimate strategy with respect to branches aimed at establishing independent locations owned by the bank that would be constructed and equipped in accordance with the bank’s approved design specifications for branches.