About Us
The Bank of Makkah & Al Madinah was formed in September 2019 in Zimbabwe as a division of Makkah & Al Madinah Holdings Ltd, based in London, after 15 yearsof in-depth research and relationship-building in Africa. Mr. Sidi Shahid, a British citizen and CEO of Makkah & Al Madinah Holdings, created the Bank to provide the underserved people of Africa with opportunities to participate in the greater world economy and to enjoy the benefits of an “improved quality of life.” This improved quality of life ranges from providing every school child with a hot lunch to building infrastructure for housing, medical, education, energy and transportation.
The foundational philosophy of our Bank is based upon the principles of the world’s major religions, Muslims, Christians, and Jews . . . that of “helping, sharing and caring.” The Bank of Makkah & Al Madinah will be afinancial resource for all the people of Africa where customers can feel this is truly “my bank.” And, of course, helping the local communities will be supported by the Bank’s commitment to donate 2.5% of annual earning. Innovation will be at the core of our Bank. For example, The Bank of Makkah & Al Madinah will be introducing the first African Gold Crypto Currency to help unite the continent by facilitating trade and financing. The Bank of Makkah & Al Madinah will be the first bank to offer digital trading backed by solid gold coins in 2021.
The Bank of Makkah & Al Madinah will help bringincreased cooperation throughout the African continent with the Bank’s key initiative for economic development, “Gateway to Africa.” African partner countries in this program will enjoy the benefits of investment from around the world secured by the natural wealth in the earth, from precious metals and stones and hydrocarbons to agricultural products. In fact, trading desks for a wide array of commodities will be a fundamental part of operations for The Bank of Makkah & Al Madinah.
Founder
Shahid
Founder & CEOA message from our founder and CEO, Mr. Sidi Shahid
Welcome to our new bank, the Bank of Makkah & Al Madinah. It is my greatest honor to introduce this first International Islamic Investment Bank to the world. It is a private bank designed to serve Muslims and non-Muslims starting in Zimbabwe and expanding to all of Africa, the Middle East and Asia. It has been created to assist those who believe in our values of “helping, sharing and caring”.
We are a peaceful people who truly wish to see a one world bank that serves citizens of all cultures and faiths. The Bank of Makkah & Al Madinah for me is the realization of a dream ten years in the making.
Born in the United Kingdom, I feel blessed to now be in a position to utilize my thirty years of experience in finance, real estate and development to launch this most unique Islamic Investment Bank.
Our first operation in Zimbabwe was approved in September 2019. All operations will feature tax-free trade zones to promote international business and trading desks for the great commodities of Africa. We have created a “Gateway to Africa” program that will “re-introduce” our wonderful and exotic African countries to the world with unique economic development programs.
Our name tells a very significant story about who we are, what we intend to accomplish, and the values which shall guide us. Makkah and Al Madinah are two of the most revered cities in the Islamic world.
The Bank shall promote a tourist project for Hajj and Umrah starting with African Muslims who wish to travel to Saudi Arabia to experience these very holly mandates. (And, of course, we will promote travel to Africa from Saudi Arabia to develop cultural and investment opportunities for both the countries.)
The bank shall also encourage all Muslims around the world who are interested to join and invest in Africa and Saudi Arabia through The Bank of Makkah & Al Madinah.
What We Do
We plan to offer the most comprehensive array of business and consumer banking services available today -- and in the future. We shall start with the first international Islamic investment bank and expand vertically to serve even the most local levels. Innovation is central to our organization and plan, and therefore, our services will expand as the needs of our clients grow.
At this time in the development of our business investment banking organization, The Bank of Makkah & Al Madinah, we will serve the needs of national and local governments, large corporations and major investors focusing on Africa, and later, the Middle East and Southeast Asia. Our objective will be to improve the quality of life for all Africans starting “at the top” where more people can be helped sooner rather than later. Transborder capital flows will support large infrastructure projects, trading, and tourism.
Our consumer banking organization across Africa, Local Community Banks, will focus on families, individuals, and small businesses who need financial resources to help manage their money and solve the challenges of everyday life. Services will include everything from checking and savings accounts to all types of consumer loans, credit and debit cards, financial planning and education, insurance and bill pay services.