Visa is the number one card in Saudi Arabia

The milestone was passed in late 2001 less than two years after al Rajhi announced the issuance of one million Visa cards.

According to Mr. Azzam A. Aba AlKhail, DGM Banking Group at Al Rajhi Banking and investment Corporation, " Al Rajhi understands the need to combine technological advancement in banking and card services with clear principles that reflect Saudi Arabia's culture and values. Our success in all areas, including issuing more than 1.5 million Visa cards, is due to will designed and hard work by our staff to improve customer service hand - in - hand with technological innovations. The recent launch of WAP and Internet Banking platforms in addition to a state-of-the-art call center and telephone banking is a clear indication of Al Rahjhi commitment to continued improvement. These kinds of technological enhancements will allow our Visa cardholders more convenient and efficient ways of managing their funds."

Mr. Aba Al-Khail further states "Our combined marketing efforts to educate Al Rahjhi cardholders and customers alike about the benefits of using Visa cards have led to increased usage and realization that using Visa cards for every kind of shopping, as well as to withdraw cash, results in greater convenience and peace of mind."

Al Rahjhi Banking and investment Corporation offers its cardholders five types of Visa cards: Visa Platinum, Visa Gold, Visa Business, Visa Classic and Visa Electron. The first Al Rajhi Visa card was issued in 1995 and the most popular card is the Al Rajhi Visa Electron.

One of only five members within the Visa CEME (Central & Eastern Europe, Middle East and Africa) region to issue over 1 million Visa cards, Al Rahjhi is also the region's third biggest issuer of Visa cards, with these cards generating a total expenditure volume of US$ 12 billion Al-Shehri, Al Rajhi Card Center Manager, added: "By providing Visa cards to our customers we enable them to make purchases with ease and convenience. Visa is the most advanced payments system in the world and through our partnership we not only give our customers greater choice, we also give them access to payment network that include 652,000 ATMs spread over 183 countries in seven continents".

Lain Jameson, general manager of Visa's Riyadh office, commented: "Al Rajhi has wholly supported the development and modernization of Saudi payment network and its efforts have resulted in exceptional growth levels - both in terms of Visa card numbers and usage. Under Al Rajhi's direction, Saudi cardholders have been quick to embrace the payment card culture and as we work together to introduce new technologies I am confident that strong growth will continue."

Since the launch of Saudi Arabia's first Visa card in 1985, card numbers have increased steadily and Saudi Arabia is now the Gulf's largest market. In the year to 31,September 2002 the number of Visa cards issued in Saudi Arabian had reached 2.1 million, with these cards generating US$ 14 billion in expenditure.

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