RIYADH, 29 June 2005 — Saudi Arabia’s Al-Rajhi Banking and Investment Corporation (ARABIC) has announced a major expansion plan under which it will set up 18 new exchange and remittance centers across the Kingdom this year. The move to open high-tech customer-friendly remittance centers is part of the new policy of ARABIC to ensure a guaranteed and efficient delivery of funds to the beneficiaries.
Addressing a press conference here yesterday, Sami Al-Rajhi, chief of Al-Rajhi Exchange and Remittance Centers, said that four new Al-Rajhi exchange and remittance centers had already been opened in Bisha, Taif, Dammam and Al-Hawaiya.”
The press briefing was also attended by Marlon Hernandez, marketing officer of Metrobank of the Philippines. Al-Rajhi also launched the first issue of a newsletter in Bengali, which has been published by Al-Rajhi Bank for its Bangladeshi customers.
Hernandez spoke about the growing business relations between Al-Rajhi Bank and the Metrobank. He said that the two banks had joined hands for raising funds for three disabled children. Referring to the expansion plan, Sami said that by the end of this year, the bank would have 62 remittance centers.
