Saudi Arabia's leading banks & Amex (Saudi Arabia) form strategic agreements

The banks are Saudi Investment Bank, National Commercial Bank, Saudi Hollandi Bank, Riyad Bank, Saudi British Bank, Arab National Bank and Banque Saudi Fransi.

Commenting on the program, Khoury added, "The conclusion of the deals with the Kingdom's leading banks is a strategic move for American Express as it will significantly increase the number of point of sale terminals that accept American Express. We are happy to work with the Saudi banks and we acknowledge that these agreements have created win-win situations for all of us."

Khoury continued, "These agreements mean that merchants on the banks' networks will no longer have to call for voice authorization, making transactions speedier, more convenient and more accurate with just a swipe of the American Express Card through an electronic terminal. American Express Cardmembers will also get easy-to-read receipts, while merchants will receive direct settlement into their bank account."

Retail outlets that already electronically process American Express Cards include all Rubaiyat shops and boutiques, other leading fashion retailers including 450 Al Hokair shops (including ZARA, Marks & Spencer, etc), 170 Al Shaya International Trading Co. shops (including Next, Debenhams, etc), Gazzaz, Zahid Trec. Shops (Benetton, Reebok, etc), Bugshan Perfumes, Faces, and Al Romaizan.

In addition, American Express is welcomed in most big supermarkets, major restaurant chains, major bookstores, electronic show rooms, travel agencies, and in several leading hospitals.

Mr Khoury added, "With the Kingdom's leading banks on board, we will be able to build stronger relations with our partner merchants and launch many innovative programs for our Cardmembers. The Saudi banks are crucial to the success of our merchant marketing programs and we continue to build stronger relations with them."

Amex (Saudi Arabia) Limited was established in 1999, with its head office in Riyadh, in order to strategically position American Express and provide products and services that meet the needs of Cardmembers and merchants in the Kingdom. Highly customer-focused, Amex (Saudi Arabia) Limited continually responds to changes in Saudi market demands, while bringing to the Kingdom the innovative spirit and dedication to service that are hallmarks of the American Express brand worldwide.