Business & Money | Monday 28 November, 2016 1:21 pm |

Bringing the advantages of digital transactions to customers across Saudi Arabia, Western Union, a leader in global payments services, and Bank AlBilad, one of the fastest growing banks in Saudi Arabia, today launched the Western Union® online money transfer service via AlBilad Net to provide customers of Bank AlBilad with an easier and more convenient way of sending money overseas.

 

The service effectively connects Bank AlBilad customers via their accounts online with their loved ones across the world, who can pick up the money from any of Western Union’s over 550,000 agent locations in over 200 countries and territories.

 

Bank AlBilad CEO Mr. Abdulaziz Alonaizan stated: “Bank AlBilad prides itself on always being the first to introduce technology-based banking services and solutions to customers in Saudi Arabia, and we are excited to continue this tradition by working with Western Union to offer a 24/7 money transfer service to our customers. Technology and innovation offers unlimited possibilities to make banking easier and more convenient for customers, and the agreement with Western Union represents an important step forward in our efforts to introduce new banking channels that meet the evolving needs of our customers.”

 

The online service will be available to all Bank AlBilad customers through Internet banking facilities empowering them to transfer money anytime, anywhere through a simple process. The service will soon be extended to a broader range of channels, which will allow account holders to send money directly from their mobile phones or from over 950 AlBilad ATMs.

 

“Western Union’s long-standing collaboration with Bank AlBilad has been instrumental in bringing innovative money transfer solutions to the Saudi market. The launch of the online money transfer service will deliver a new level of choice and accessibility to Bank AlBilad account holders,” said Hatem Sleiman, Regional Vice President – Middle East and Philippines, Western Union. “Such seamless convenience is made possible not only by our global agent locations network and our unremitting focus on technology, but also the effort we continuously put into expanding our robust cross-border platform which enables an industry-leading pay-in, pay-out capability expediting efficient and fast money movement for consumers in the Kingdom and around the world,” added Sleiman.

 

General Manager of Bank AlBilad – Enjaz division, Mr. Ahmed Al Enazi said, “Bank AlBilad is extremely proud of its efforts in ensuring that its customers are among the first in Saudi Arabia to experience and benefit from technology-based banking services and solutions, and the launch of this Western Union money transfer service for our customers is continuation of this tradition. We believe that digital channels are the future of banking through which we can offer our customers the best and most convenient services. Currently Enjaz provides innovative services through 179 branch across the Kingdom.”

 

In 2015, remittances from Saudi Arabia amounted to SR156.9 billion and the World Bank has ranked the Kingdom as the world’s second largest remittance-sending country after the US. The launch of this service complements the Kingdom’s nation-wide digitization drive and aids the foreign remittance verification process as outlined under the National Transformation Program.