SAUDI ARABIA

Riyadh emir sponsors launch of Alinma endowment fund for patient care

May 22, 2019
Emir of Riyadh Prince Faisal Bin Bandar attends the official launch of the Alinma Enayah Endowment Fund at the headquarters of Enayah.
Emir of Riyadh Prince Faisal Bin Bandar attends the official launch of the Alinma Enayah Endowment Fund at the headquarters of Enayah.

RIYADH — Emir of Riyadh Prince Faisal Bin Bandar inaugurated the Alinma Enayah Endowment Fund at the headquarters of Enayah Charitable Society for Patients (Enayah).

AbdulMohsen Al-Fares, CEO of Alinma Bank, expressed his pleasure in having the prince of Riyadh inauguarting the fund. He said: "We enjoy the royal encouragement of all initiatives to develop and promote initiatives that aim to develop investment tools and enhance the role of civil society organizations to achieve their noble goals in serving the community. The patronage of His Highness the Prince of Riyadh region is one of the continuous support for the pilot projects that serve the community in the Kingdom."

Al-Fares also extended his thanks to the chairman and members of the board of directors of Enayah and its staff of volunteer doctors for the outstanding efforts of the association in the treatment of the needy patients.

Mazen Fawaz Baghdadi, acting CEO of Alinma Investment Company, said the fund's objective was to enhance the developmental role of the private endowments by participating in the development of the suspended assets of the fund and investing them to achieve the principle of social solidarity.

The fund has the right to invest its assets, including cash, real estate, securities and others, in order to achieve growth in the suspended capital for patient care.

Alinma Enayah Endowment Fund is a closed-end investment fund with a public offering. Its units are endowment for the benefit of Enayah. The fund aims to enhance the developmental role of the private endowments by participating in supporting health care through the development of the assets suspended for the fund.

Alinma Investment Company is the investment arm of Alinma Bank, a company licensed by the Capital Market Authority (CMA) No. 37-09134 to carry out all securities transactions, including dealing in real estate and agent, undertaking to cover, management, arranging, advising and custody of securities. It has launched a wide range of investment products and services. — SG


May 22, 2019
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