RIYADH, 9 June — A leading Saudi bank has launched a service on the Internet enabling customers to conduct online banking transactions using their personal accounts and credit cards.
Using Sabbnet, a free-of-charge service launched by the Saudi British Bank, customers can transfer money between their accounts, obtain information on their credit cards, request periodic statements of their accounts, follow up foreign exchange rates and apply for personal loans or Murabaha Purchase Finance.
“We took pride in our effort to provide maximum convenience to our valued customers in their banking transactions using cutting-edge technology,” Sulaiman Al-Hamdan, SABB’s general manger for personal banking, said yesterday, spelling out the salient features of Sabbnet.
“In addition to providing highest quality personal banking services, Sabbnet assures complete confidentiality and security of transactions,” said Al-Hamdan. Customers will also be able to obtain replies to their queries and comments directly by accessing the bank’s website www.sabb.com.
Saudi Arabian Monetary Agency and commercial banks operating in the Kingdom have been working to develop a standard e-payment infrastructure. They have already joined forces to evolve a system for electronic certification of transactions.
