The Umm Al-Qura University (UQU) and the Al Bilad Bank have signed an agreement on providing competitive personal finance services for the UQU's top students under flexible conditions. The initiative is a practical application of the recommendations raised by the International Conference on Islamic Banking & Finance (ICIBF) which was held at the university's main campus in March.

Out of its keenness and belief in its social responsibility, the bank supports ideas and future plans suggested to back top students in various specialties to promote their role as the most precious resources in homeland. The deal supplies top students with the necessary financial assist to take firm and stable steps on way to a successful professional life. Also, it improves the scholastic skills of their colleagues who can join them to the distinguished generation that can assume responsibility in managing, establishing and achieving their future goals at the personal and professional levels.

UQU's President Dr. Bakry bin Maatouq Assas addressed the signing ceremony which was held on Sunday, Ramadan 7, 1437H and attended by Al Bilad Bank's Board member and Member of the Executive Committee Mr. Fahad bin Abdullah Alhnaya.

"The agreement is a new chapter of the vital partnership linking the UQU and the private sector, especially, Al Bilad Bank. It is a practical application of the Saudi Vision 2030 that reiterated the importance of interaction and partnerships between the government and private sectors," Assas said. "This is important step to promote the sense of responsibility among the UQU's students and to provide the soft financial assistance needed to achieve ambitions."

In the same context, Alhnaya voiced gratefulness to the university on its trust in the bank and giving it the chance to further boosting partnership in order to achieve their strategic goals and serve the public through creative ideas of finance.

In turn, Dean of the College of Islamic Economics and Finance at the University Dr. Saleh Al-Agla expressed happiness for making the deal, saying it is a first step to apply the ICIBF's recommendations. Al-Agla saluted Al Bilad Bank's Chief Executive Abdul Aziz Al Onaizan for taking the responsibility for implementing these recommendations.

In its first round, the conference stressed the necessity of providing new financial products for students to facilitate their qualification for the labor market. According to Al-Agla the agreement is the first of its kind in Saudi Arabia which paves the way for more steps.

Al-Agla thanked Dr. Assas for his support to the conference and his directives that led to the swift application recommendations by boosting ties with the banking sector. He also hailed participation of Alhnaya as a 'magnificent' for success of the deal.

Western Area Manager Yasser Alhatlani and Public Relations Officer Abdulaziz Aboabat, Head of Makkah and Taif branches Abdullah Ba-Shehab represented the bank at the signing ceremony while the UQU was represented by Dr. Thamir bin Hamdan bin Jaber al-Harbi, Vice President for Graduate Studies and Scientific Research, Dean of College of Community Service and Continuing Education Dr. Hamed Al Rubaie, Dean of the College of Islamic Economics and Finance at the University Dr. Saleh Al-Agla and the UQU's Legal Department Supervisor General, Dr. Hamdan Al-Ghamdi. The representatives closed the meeting by exchanging memorial shields and gifts.