The new service enables SABB customers to manage all operations relating to Mutual Funds through SABBNET. This includes subscription and redemption processes as well as account reporting. All these services are made through the Internet without the necessity to visit SABB branches. In addition, SABB is also offering up to 50% discount on management fees for new on-line subscriptions.
Commenting on the event, John Richards, Executive Director and Chief Operating Officer said,
"This initiative is part of a wider program which aims to facilitate access by customers to the services offered by SABB through the Internet".
SABB was rated "Best Mutual Fund Manager For 2005" by the Investment Products Committee, which operates under SAMA supervision.