Prince Salman also ordered for the bank’s activities to be expanded to all parts of the Riyadh province to support the poor and needy. Prince Abdul Aziz Al-Muqrin, mayor of Riyadh, described the bank as a pioneering humanitarian project aimed at providing assistance to the poor in an effective and professional manner.

“This bank will carry out its humanitarian activities in a scientific and modern way,” the mayor said, adding that its style of work and programs would be different from conventional charities. The bank will have a permanent source of income to finance its activities.

“We’ll also explore new sources of income to support the bank’s charitable programs,” he added.

Prince Abdul Aziz disclosed prospects of opening the bank’s branches in other provinces at a later stage. “We’ll announce the bank’s mode of operation, its board of directors and other details very soon,” he added.