JEDDAH, 2 July 2007 — Samba Financial Group has signed an agreement with Saudi Arabian Airlines to issue the Samba Al-Fursan Islamic credit card amid heightened interest in Islamic banking services in the Kingdom.
The new credit card is considered to be the first-of-its-kind that corresponds with Shariah rules and is available in four progressive categories — golden, silver, titanium and platinum. The credit card offers to obtain free airline miles in return for SR4 of purchases, providing free travel, enhancing the countries traveling class and priority in making reservations.
The agreement was signed by Khaled Al-Mulhim, director general of Saudi Arabian Airlines and Eissa Al-Eissa, managing director and CEO of Samba, on Sunday at the headquarters of the Saudi Arabian Airlines here.
Al-Mulhim said “we are delighted to work in cooperation with such a leading distinguished banking group as Samba Financial Group. We wish that our agreement would make a great change in improving the services of Al-Fursan program. The use of Al-Fursan Samba Islamic credit card is a quick source of payment while buying the tickets on Saudi Airlines. When paying the amount of using the partner’s services, you will receive mileage points on Saudi Airlines and mileage points that correspond to the amount you paid for your tickets. In addition you receive mileage points in return of renter car, and residency in participating hotels of the Fursan program — in other words mileage points to pay the rent.”
Al-Eissa said “by issuing the Samba Al-Fursan Islamic credit card, it strengthens Samba’s leading position in offering banking services that corresponds to Shariah rules.” This is not the first time where Samba worked and cooperated with Saudi Airlines. Samba’s connect service has been offered in the past by allowing client of Samba or any other bank to buy airline tickets through the internet.
Samba has increased Islamic financial banking activities through opening specialized branches.