RIYADH: SABB has announced the launch of a new Amanah Visa credit card as part of its Amanah family of Shariah-compliant products.
Adel Al-Nasser, deputy managing director at the bank, handed the new card to Bakheet Khalaf Al-Tamimi, as the first customer to obtain this credit card, in the presence of a group of senior managers at the bank.
“The launch of the new card reflects continuation of the relationship between SABB and Visa and indicates SABB keenness to provide all services to its customers up to their wishes and inspirations based on SABB commitment to their strategy of continued creation and renovation in all respects.
The launch of the card also aims at maintaining our leading position in the credit card market in the light of the recent development and progress of the market,” said Al-Nasser.
“The new card is built on the Tawarruq principle and it gives the customer the advantages and flexibility over any other credit card. The card allows the customer payment flexibility of minimum payment of the total outstanding every month and revolve the remaining amount through Tawarruq transaction.
The card comes with the exciting option of free shopping through SABB’s well-recognized ‘ICSABB’ program that allows card members to earn points and get discounts and shopping vouchers for the participating outlets.
The card is acceptable all over the world,” Saeed Al-Khuraimi, GM, SABB Amanah, said.
SABB’s market share stands at about 20 percent, which is attributed the high standard of service provided by SABB in terms of credit cards and to other incentives and advantages availed to cardholders constituting important drives for customers to obtain SABB cards.
ICSABB Loyalty program that rewards the customer for his purchases by the card stands on top of such incentives and advantages.