RIYADH, 16 February 2006 — Bank Albilad has established 70 centers under the umbrella of Enjaz Banking Services to serve customers in the field of fund remittances and cash currency exchange and hopes to open 20 more centers in the coming months.
“These centers spread throughout the Kingdom provide fund transfers and are designed to give customers confidence in our services,” Abdullah Almadhi, general manager for banking services of Bank Albilad said. He added that its products are tailored according to customers’ requirements based on extensive market research. He pointed out that its correspondent banks are the leading banks in their respective countries.
Enjaz Banking Services is one of Bank Albilad’s groups serving its clients through a strategy of multi-branding customer service. Its current products include remittances, drafts, and cash currency exchange. “This product range will expand in the near future to include payroll, pre-paid charge cards, and other related services,” Almadhi.
Besides Europe, Middle East and Africa, Enjaz banking services cover a wide network of countries embracing both East and West. “We made sure that the small cities in those countries are covered before the big cities by our direct correspondents or through our partners from international companies with quality reputation in money transactions, such as Western Union so that our clients can cash their money from our corresponding financial institutions even in remote villages in the respective countries.”
Referring to target customers, he said: “Our customer target range from the simple laborer to major corporates. This range includes all individuals who have a need to transfer funds to their families and loved ones back home, as well investors who are participating in the economic boom back home. The companies can utilize our payroll services for all their employees. The biggest advantage for the expatriate employees is to be able to achieve their banking needs electronically, through our ATM machines, Internet, and IVR without the need to stand in line for long hours. This service will be introduced in the next few weeks.”
Spelling out his future plans, he said Bank Albilad wants to expand Enjaz banking services to cover all parts of the Kingdom. During the first phase of its current plan, it hopes to establish over ninety branches and will continue to improve the performance of its staff and systems, he said.
