News 2007

July 2007

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Al-Eisa: Opening the Branch aligns with Samba's Strategy to Foster the Concept of Islamic Banking
Samba Opens a New Branch for Islamic Banking at "Zharat Albadiah" in Riyadh

Samba opened a new branch dedicated for Islamic Banking on Monday 25/6/1428h (11/6/2007) at Zharat Albadiah district in Riyadh, at the attendance of His Highness Sheikh Abdullah Al Maneia, Chairman of Samba's Shariah Supervisory Board and their eminences, members of the Supervisory Board and a crowd of Samba customers and officials.

Mr. Eisa Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group, commented on the occasion "opening this new Islamic branch aims at satisfying the escalating demand of our clients on Shariah compliant alternatives and solutions and aligns with our strategy to foster and expand the Islamic banking services for all community classes to the highest possible standards in line with our pioneering role in this context, as we are an industry leader in developing Islamic financial and banking services".

"Adding a new branch to our series of existing Islamic specialized branches signifies our ambitious plans to spread our Shariah compliant services kingdom wide.

We have already opened several Islamic branched in Al Madinah, Makkah, Buraidah, Unaizah, Riyadh, and Hufuf. More of such branches are in the pipeline and will be opened in the next stage in other Kingdom areas in line with our efforts to expand our Islamic Banking activities and meet our clients' demands" Al Eisa says.

"The new branch will deliver all forms and types of Shariah compliant financial and banking services and products for individuals and corporations, such as current accounts, Samba Gold and Diamond services, consumer credit products such as Al Khair Financing, Al Khair Tawrruq, and Al Khair Credit Card, investment funds and other Shariah compliant investment products approved by Samba's Shariah Supervisory Board.