News 2007

May 2007

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Al Eisa: the First in the Kingdom in terms of Attractiveness and Advanced Features Samba Launched "My Salary" Program, with Unprecedented Advantages Including Personal Financing without Mark up and Management Fees

Mr. Eisa M. Al Eisa, Managing Director and CEO of Samba Financial Group, announces that Samba has launched "My Salary" Program, which is the first if its kind in the Kingdom in terms of its advanced advantages. "The purpose of the Program is to provide a bundle of unique Samba banking services to different classes in the community, Saudis and expatriates, and enable them to enjoy all advantages once the person transfers his Salary to Samba and joins the program. Existing Samba clients, who already have their salaries transferred to Samba, will benefit from "My Salary" Program", Al Eisa indicated.

"The excellence of "My Salary" Program is tangible in its unprecedented advantages including personal financing "Al Khair Financing" using the Shariah complaint "Tawarruq" mode of financing without mark up for the first financing obtained by the customer, as well as a present valued SR1000 once he received "Bait Al Khair" financing using the Shariah compliant "Murabaha" mode of financing.

Other advantages include the possibility of trading stocks on line without a minimum balance limit, with 10% discount of Tadawul fees, and the possibility of obtaining Al Khair Credit Card at SR50.000 as credit limit and obtaining 4 subordinate cards free of charge for the whole life. Moreover, the member and his wife will be entitled for upgrading to Samba Gold, once the transferred salary is SR25,000 or higher. The member will have the privilege to join the Regular Investment Saving Program, through which the member can start investment in Samba funds with only SR1500 and a minimum monthly subscription of SR500. Additionally, once the member subscribes in the Program and opens a Speed Cash account, he will be entitled to make his first remittance free of charges.

"The excellence of "My Salary" Program is tangible in its unprecedented advantages including personal financing "Al Khair Financing" using the Shariah complaint "Tawarruq" mode of financing without mark up for the first financing obtained by the customer, as well as a present valued SR1000 once he received "Bait Al Khair" financing using the Shariah compliant "Murabaha" mode of financing.