Agreement with the Arab Bank to promote a culture of savings

Sunday-2022-01-30

The Arab Social Development Bank and the National Bank signed a convention to implement and launch an innovative savings product for children. Under this Convention, the Arab National Bank will join the list of Saudi banks approved for the Safidian product, to expand options for the client ' s selection of the appropriate commercial bank for participation, in order to achieve the goals of the Bank for Social Development, which is intended to develop financial instruments that will allow children to benefit from the benefits of the programme and assist them with savings and financial planning.

On the other hand, over the past period, the Bank for Social Development and the Arab National Bank have completed the technical linkage for the Safiri product, where the product has been effectively launched for programme customers, and it is now possible to benefit from the social loan customers as well as the families produced through the Arab National Bank. It is worth noting that the Savings Supply Programme offers many features, such as a monthly cash incentive of up to 20% and a full range of $110 million in the programme.