Alinma Bank joins Tanfeeth to fight financial crimes

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Alinma Bank CEO Abdulmohsen Al-Fares received the award during the 5th annual Top CEO Conference & Awards 2019 in Bahrain.
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Abdulmohsen Al-Fares, Alinma Bank CEO
Updated 06 May 2019
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Alinma Bank joins Tanfeeth to fight financial crimes

Alinma Bank has joined the Saudi Arabian Monetary Agency (SAMA) and the Ministry of Justice as a member of their Tanfeeth program, which facilitates the resolution of court cases related to financial dealings in the Kingdom. With Tanfeeth, Alinma will provide the Ministry of Justice with direct line-of-sight into transactions executed by Alinma account holders, thus expediting the investigatory process related to alleged financial crimes. The program further relates to various key objectives of Saudi Arabia’s Vision 2030.
Alinma Bank CEO Abdulmohsen Al-Fares said the bank was pleased to contribute to the safety, security, and propriety of financial dealings in the Kingdom. “Alinma Bank prides itself on its forward-thinking strategy and its leveraging of the very latest in financial technology,” said Al-Fares. “And thanks to the robustness of our technical systems, integration with SAMA and the Ministry of Justice was a clear-cut process; and we are happy to contribute to any effort that supports the safety, security, and ongoing growth and prosperity of the Kingdom.”
Tanfeeth was launched this year on Feb. 14 and aims to connect financial institutions directly with relevant government ministries and agencies, with the cooperation and oversight of SAMA.


CMRC admits first patients to new Saudi clinic

Updated 21 May 2019
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CMRC admits first patients to new Saudi clinic

Cambridge Medical and Rehabilitation Center (CMRC), a top post-acute rehabilitation and long-term care facility in the UAE, has admitted 15 patients to its first medical facility in Saudi Arabia. 

CMRC’s new 60-bed clinic, located between Dhahran and Alkhobar, aims to help patients requiring post-acute care and rehabilitation services to make large improvements in their quality of life through multidisciplinary rehabilitative therapies including physiatry, physiotherapy, occupational therapy, speech and language therapy, and multi-sensory room sessions. 

The facility is staffed by multiple clinical experts including GPs, internal medicine consultants, pediatricians, ICU intensivists, rehabilitation consultants, psychologists and therapists, and will service patients across the eastern region of Saudi Arabia. 

It follows the same clinical procedures and protocols successfully implemented in facilities in the UAE, similarly benefiting from the center’s international partnership with the Spaulding Rehabilitation Network, a teaching affiliate of Harvard Medical School, and accreditations from Joint Commission International, CARF and Planetree.

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CMRC, a portfolio company of health care specialist investor TVM Capital Healthcare, also operates facilities in Abu Dhabi and Al-Ain in the UAE.

CMRC Group CEO Dr. Howard S. Podolsky said: “We expand into countries where there is notable demand for post-acute care and rehabilitation services. Like many countries around the world, Saudi Arabia is experiencing a rise in the incidence of non-communicable diseases, birth defects, and life-threatening injuries. Our new facility brings our world-class medical treatment, care, and rehabilitation therapies to the Kingdom through a truly patient-centric approach.”

He added: “We look forward to helping families in the region improve their quality of life and using our international expertise and specialized workforce to support the government of Saudi Arabia’s focus on health care development, as part of Saudi Vision 2030.” 

CMRC, a portfolio company of health care specialist investor TVM Capital Healthcare, also operates facilities in Abu Dhabi and Al-Ain in the UAE.

Dr. Helmut Schuehsler, CEO of TVM Capital Healthcare and board member of CMRC, said: “We believe that private equity investment should be a force for good, and that by working in health care, we have a real opportunity to make a difference to patients’ lives. Therefore, we conceptualized and invested in CMRC in the UAE to cater to those in need of post-acute care and an elevated level of rehabilitation. CMRC grew to be the leading post-acute care and rehabilitation provider in the UAE. We are very happy to bring the offer to the people of Saudi Arabia now.”

CMRC offers both inpatient services at its medical centers and outpatient therapy, where patients follow a rehabilitation program after discharge. The company employs more than 500 staff members across all facilities.