SABB Amanah launches new Islamic credit card in association with Visa

SABB announced the launch of the new Amanah Visa credit card as a part of the Amanah family of Shariah compliant products.

Saudi Arabia: Saturday, September 20 - 2008 at 14:46
PRESS RELEASE

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Mr. Adel Al-Nasser, Deputy Managing Director of SABB.

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Mr. Adel Al-Nasser, Deputy Managing Director at the bank, handed the new card to Mr. Bakheet Khalaf Al-Tamimi, as the first customer to obtain this credit card, in the presence of a group of senior managers at the bank.

Commenting on the event, Adel Al-Nasser, Deputy Managing Director, said:

'The launch of new card reflects continuation of the relationship between SABB and VISA and indicates SABB keenness to provide all services to its customers up to their wishes and inspirations based on SABB commitment to their strategy of continued creation and renovation in all respects. The launch of the card also aims at maintaining our leading position in the credit card market in the light of the recent development and progress of the market.'

Saeed Al-Khuraimi, General Manager SABB Amanah, said:

'The new card is built on the Tawarruq principle and it gives the customer the advantages and flexibility over any other credit card. The card allows the customer payment flexibility of minimum payment of the total outstanding every month and revolve the remaining amount through Tawarruq transaction. The card comes with the exciting option of free shopping through SABB's well-recognized 'ICSABB' program that allows card members to earn points and get discounts and shopping vouchers for the participating outlets. The card is acceptable all over the world.'

SABB's market share stands at about 20% thanks to the high standard of service provided by SABB in terms of credit cards and to other incentives and advantages availed to cardholders constituting important drives for customers to obtain SABB cards. ICSAB Loyalty program that rewards the customer for his purchases by the card stands on top of such incentives and advantages.

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Notes and media contacts

For further information, kindly contact:

Ibrahim Abo-Mouti
Head of Corporate Communication
Saudi British Bank (SABB)
Head Office
P.O. Box 9084 Riyadh 11413, Kingdom of Saudi Arabia
Phone +96612764041
Fax +96612764809

Posted by Siba Sami Ammari
Saturday, September 20 - 2008 at 14:46 UAE local time (GMT+4)

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