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Alinma Educational Fund Acquires Amjad Qurtoba Schools

Alinma Educational Fund Acquires Amjad Qurtoba Schools

10 Jumada1 1438 H - 07 February 2017 G

RIYADH, January XX, 2017 – The Alinma Educational Fund, which is managed by Alinma Investment Company, a wholly owned subsidiary of Alinma Bank, has acquired Amjad Qurtoba Schools, a premiere private school in north Riyadh.  Serving 2000+ students, Amjad Qurtoba Schools is representative of Saudi Arabia’s rapidly expanding private education sector, and is strategically located in one of the most demographically important regions of the city.
 
The acquisition was a major accomplishment for the Alinma Educational Fund, whose mandate is to acquire controlling stakes in school operators and to then manage and support their growth.  Toward this end, the fund has collaborated with Arabian Education & Training Group (AETG), whose 15 years of experience in school operations helps ensure the success of the schools in which the fund invests.

Speaking about the acquisition, Alinma Investment Company CEO, Mr. Saleh Al-Henaki, highlighted the importance of the deal in terms of addressing fundamental social needs in Saudi Arabia.

“With this acquisition, Alinma Investment Company is showing its commitment to the growth of the education sector,” said Al-Henaki.  “There is no part of the government’s current development efforts that isn’t linked to education; and the private sector can play a key role by investing in and ensuring the success of the kingdom’s educational institutions.”

“Investment in schools is an investment in the future,” continued Al-Henaki. “And our children deserve quality educational environments, such as those provided by Amjad Qurtoba Schools.  We are eager to continue investing in this important sector and are actively seeking out other quality education investment opportunities.”

Also commenting on the deal was Dr. Bader Aloliwi, CEO of Arabian Education & Training Group (AETG), who emphasized his organization’s commitment to the quality operation of schools under his organization’s management.

“AETG is committed to providing quality educational environments and ensuring the exemplary management of schools under its responsibility.” said Aloliwi.  “Working with Alinma Investment Company gives us the opportunity to showcase our expertise and make a positive impact in the education sector.”

Alinma Investment Company (AIC) is licensed by the Saudi Arabian Capital Market Authority (No.37-09134) to provide a comprehensive array of Shariah-compliant investment products and services.  

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