Bank Albilad launched the Corporates' Credit Card compliant with the Bank Sharia Board's rules and regulations, which provide corporates with full flexibility in controlling the corporate expenses, commercial purchases, payments, commissions. The Corporates' Credit Card is a more reliable, safer, and more convenient alternative to cash and checks.

Mr. Khalid Al Zain, Director of Cards Management at Bank Albilad, said "the Bank is keen, through its ongoing and constant quest, to provide all solutions to all its customers including our customers of corporates through providing its outstanding offers which provides them peace of mind and products tailored to the needs of small and medium enterprises as well as major establishments and companies."

Mr. Al Zain added "The card is the first of its kind in the Saudi market because it is compliant with Shariah regulations and enables companies to save costs, monitor expenses, streamline expense reports, improve cash flow and provide attractive benefits to their affiliates, and this is an important step for our customers to take advantage of digital payments."

For his part, Mr. Ali Belon, Director General of VISA in the Kingdom of Saudi Arabia said "we are delighted to partner Bank Albilad to introduce one of our corporates and business solutions, which is designed to meet the needs of large or small and medium-sized enterprises in Saudi Arabia. Through this card, customers from large or small and medium enterprises can take advantage of all payments, from improving clarity and transparency on daily expenses down to a better understanding of long-term spending patterns."

Mr. Belon added "VISA is proud to support Saudi Arabia's march towards a non-monetary society and as a leading provider of digital payment technology in the Kingdom of Saudi Arabia, we will certainly continue our cooperation with our partners in the Kingdom, including Bank Albilad to launch new and innovative financial products and solutions that are aligned with the Kingdom's vision 2030 for companies and retail alike, so that everyone can enjoy the numerous advantages of digital payments."

Mr. Al Zain indicates that the Corporates' Credit Card offers many advantages to employers and their affiliates alike, the most prominent of which are:

Employers' benefits:

•Ability to follow up and control by providing detailed and comprehensive data through sophisticated and analytical reporting tools.

•Possibility of saving through the use of spending data in the negotiations with suppliers to obtain competitive prices.

•Insurance coverage of the Company's obligations and protection against losses and minimize risks.

•Efficiency in reduction of procedures through the possibility of deducting payments directly via ATMs from the company's accounts at Bank Albilad.
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Corporate affiliates' benefits:

•Global acceptance of corporate card worldwide.

•Cardholders enjoy access to airport terminals all over the world.