RIYADH, 9 September 2003 — Al-Rajhi Banking and Investment Corp. has launched a new service, Cash Online, that enables expatriates in the Kingdom to send remittances back home within two hours. The service charge for the service is SR20, making it highly competitive in its class, according to a press release issued by the bank.
It said the facility will be available, in the first stage, to citizens and expatriates wishing to send remittances to Egypt, India, Pakistan, the Philippines, Bangladesh, Jordan and Lebanon. It will be extended in the second stage to Yemen, Morocco and Sudan.