TC ZIRAAT Bankasi AS – History and Services

TC ZIRAAT Bankasi AS has been in existence since the early start of the nineteenth century. However, its operations did not start as a banking institution; but uniquely different.

During the early part of the 19th century, modern methods of trading and financing are sprouting within the borders of the Ottoman Empire. But, at that time, there was no available capital to establish a national bank and there were no existing national banks to handle banking needs of the people.

TC ZIRAAT Bankasi AS - About the Bank

Actually, the most affected branch of people during that time was the farmers who were the major working class of the country.

A large group of farmers from the agricultural sector was having difficulty to make a living and was highly dependent on personal loans because there were no financial institutions where they can get structured loans.

Definitely, since these personal loans were provided by different tradesmen and professionals such as wholesalers, commissioners, exporters, village grocers, and professional moneylenders; the interests were extremely high.

Actually, these personal loans with high interests during that time were known as Usurer Loans. The interests that are computed daily can reach up to almost nine hundred percent annually that often made the farmers make Salam sale.

Salam sale is whereby the farmers sell their crops before its harvest only in order to pay off their personal loans. This practice made it more difficult for farmers to make a living.

During this time, the government thought of giving a solution to the plight of the farmers. Midhat Pasha, the governor of Nis created projects in different areas that gave rise to the organization of the farmers and help them finance their farming without the need of usurers.

Therefore, in 1863, the Homeland Funds through the leadership of Pasha was established. The funds for this organization are the money collected by farmers. This organization served as the first national banking of the country.

Homeland Funds had its ups and downs until the government centralized the funds administration and in 1883, it was converted to Benefit Funds. Reorganization and modernization of accounting system were done, and the full control of the organization was made under the central government.

The need for an entire modernization of the Benefit Funds prompted the establishment of Ziraat Bank in 1888. All the benefit shares were transferred to the bank and were counted as part of the bank’s capitalization.

The Different Services of TC ZIRAAT Bankasi AS

As a regular banking institution, the TC ZIRAAT Bankasi AS bank has the following retail services and products:

Deposit Products

The different deposit products and services of the bank include Time Deposit Account, Cumulative Savings Account, and the Period Payment Deposit Account

Investment Products

TC Ziraat Bankasi AS offers investment funds, investments in gold, and bank papers investments.


The bank offers various types of loans such as Vehicle Loans, Home Loans, and Consumer Loans with very affordable interests.


For cards products, TC ZIRAAT Bankasi AS offers Bankkart for a secure way of carrying cash and credit cards such as Ziraat Visa Classic, Gold, and Platinum.

TC ZIRAAT Bankasi AS - Bank Services


Payments products and services include Direct Debits, Charity Payments, Bill Payments, SSI Contributions, University Fee Payments, and payments for Tax, Traffic Fine, Duty and other payments.

Other Services

Other services the bank offers include Foreign Transfers, Privilege Rental Service Package, and Fast Money Transfer.

Ziraat Bank also offers Insurance and Pensions, and Direct Banking facilities.



Why National Commercial Bank is the Largest Bank in the Arab World

Established by a Royal Decree on the 26th day of December 1953, National Commercial Bank (NCB) held the reputation as the first Saudi Arabian bank licensed in the Kingdom.

The bank is also the largest in Saudi and the leading financial establishment in the Region.

National Commercial Bank - Banking Leadership

The government made a majority acquisition of the bank’s holding in 1999 through the Public Investment Bank, Ministry of Finance.

NCB holds 90.424% of the NCB Capital, the bank’s investment arm, Premier Investment Bank. National Commercial Bank also holds 64.69% of a leading Turkish participation bank.

The paid-up capital of NCB is SR 15,000 million or equivalent to US$ 4,000 million. The bank’s total asset at the close of year 2011 is SR 301,198 million or US$80,320.

The bank is operating throughout the Kingdom with 288 branches exclusively dedicated for Islamic Banking services and already had over 2.8 million clients at the end of 2011.

The bank services of NCB covers Personal Banking (Accounts, Islamic Finance, Cards, Money Transfer), Wealth Management (Investment Solutions), Business Banking (Corporate, Small and Medium Enterprises), and Private Banking for exclusive services.

National Commercial Bank – Corporate Social Responsibility

NCB at year-end 2011 has workforce totaling to 5,879 employees throughout the Kingdom majority of which are Saudis.

This indicates the bank’s recognition about the importance of their role being a major employer that supports national development drive.

The bank also supports community initiatives, which made them the first Bank that initiated in dedicating a team intended for community service.

Through Corporate Social Responsibility initiative, the bank aims in serving the community, support local as well as national economy, support in improving education, support health improvement, and support social activities.

The range of CSR expanded in 2009 that includes suppliers, stakeholders along with the interest in the environment and sustainability of natural resources.

National Commercial Bank - Corporate Social ResponsibilityThe bank works in improving skills of the locals within the community by training, capacity development, and helping them in overcoming the obstacles along the way.

These include programs to support poor and low-income families, the orphans and people with special necessitates.

Additionally, NCB extends support and consistent help to charitable institutions and organizations that are engaged in the same advocacy.

The role of National Commercial Bank is not merely to be profitable in the industry, but to play a major role in local communities, being aware of its social as well as religious responsibilities.



Developments with Islamic Development Bank

The establishment of Islamic Development Bank demonstrates uniqueness from other Saudi Banks since this financial institution was created pursuant to a Declaration of Intent that was issued in December of 1973 at Jeddah by the Finance Ministers Conference of Muslim Countries.

Islamic Development Bank - Supports Islamic Communities

After the Board of Governors inaugural meeting of at Rajab in July of 1975, the bank was opened formally in October at Shawwal.

The primary purpose of IDB is to promote social progress and the economic development of Muslim communities and member countries individually in agreement with Shariah or Islamic Law principles.

Presently, there are about fifty six countries who are members of IDB.

The main requirements to become a member of IDB are that the prospective country should be a member of the Organization of Islamic Cooperation, willing to accept terms and conditions decided by the IDB Board of Governors, and pay a contribution to the capital of the bank.

Having been created for the purpose of developments, communities and individuals are given opportunities for improvements and developments.

Member Countries of Islamic Development Bank

Presently, the member countries of Islamic Development Bank are fifty six countries which include the following:

Comoros, Albania, Syria, Bangladesh, Burkina Faso, Somalia, Cameroon, Chad, Kazakhstan, ,Egypt, Uganda, Togo, Yemen, Turkey, Djibouti, Uzbekistan, Tajikistan, Uzbekisan, Tunisia, Gabon, Indonesia, Gambia, Guinea, Jordan, Iran, Kyrgyz, Iraq, Lebanon, Maldives, Mali, Afghanistan Morocco, Mauritania, Pakistan, Mozambique, Niger, Qatar, Palestine, Kiwait, Sierra Leone, Cote dlvoire, Guinea Bissau, Brunei, Libya, Malaysia, Nigeria, Oman, Algeria, Bahrain, Azerbaijan, Benin, Turkmenistan, Saudi Arabia, United Arab Emirates, Suriname, Sudan, and Senegal.

Saudi Arabia has the highest number of subscribed shares with 368,513 shares. Both Comoros and Uzbekistan have the least numbers of shares with 250 shares each.

How Does Islamic Development Bank Works?

Islamic Development Bank provides funding and technical assistance to the Islamic world.

To poster development and perform its functions, IDB works as a financier of productive programs and projects in both private and public sectors of member countries that promote progress and development.

The bank invests in social infrastructure and economic projects, assists in the promotion of foreign trade and capital goods of member countries, and provides technical assistance to its members.

Islamic Development Bank - Promotes Progress

Muslim communities in countries that are not members of IDB also get assistance from IDB.

Actually, IDB carries out research studies that are Shariah based in Islamic banking and economics through specific funds created particularly for the purpose of assisting Muslim communities outside the member countries.

With member countries, IDB finances Shariah supported development projects such as leasing, loans, equity participation, installment sale, and others.

Through Long Term Trade Financing Scheme, Import Trade Financing Operations, Islamic Banks Portfolio and others, IBD is able to encourage trade among its member countries.

Today, IDB has emerged into a group of companies called the IDB Group consisting of Islamic Development Bank, Islamic Corporation for Development; Private Sector, Islamic Research & Training Institute, Islamic Corporation; Insurance of Investment & Export Credit, and the Int’l Islamic Trade Finance Corp. that provides the best development projects not only for member countries, but the entire world in principle.



Understanding Islamic Banking Today

To understand Islamic Banking, it is important that you learn first its definition and the principles behind the system.

Generally, this banking system is based on Shariah or the standards of Islamic law.

Consequently, the two major principles behind this system are the prohibition of payment and collection of interest; and the sharing of profit and loss.

Islamic Banking - The Principles

It is evident that under the Islamic law, collecting interest is not allowed.

With this practice, borrowers are not burdened with so much banks interests; thus safe from being bankrupt.

What makes Islamic system of banking different from the western banking?

Since Islamic banks are founded in Islamic principles, all transactions of the banks follow the morals of Islam.

One example of this distinct cultural form of banking system is the prohibition of investing in gambling, alcohol, and the like.

So, if you want a morally sound system of banking; the Islamic system if a choice for you.

Islamic Banking Principles

After learning the general principles of banking the Islamic way, it is better to go a little more detailed in order to fully appreciate the system.

Do you know that there are about two billion Muslim all over the world and the financial world, especially banking cannot just overlook that fact?

But, people should know that Muslims have very strict and distinct laws that govern banking transactions.

All banking transactions should stick on the law of Islam which is called Sharia in order to be an authentic Islamic bank.

If Sharia is the Islam Law, Fiqh al-Muamalat is the law that governs all Islamic financial transactions.

As mentioned earlier, the two basic principles under these laws are the principles on charging of fees or interests on loans and investing in businesses within the morals of Islam.

How Interests in Islamic Banking Works?

Since charging of interests is not allowed in the Islamic principle, a unique method for granting loans is instead being practiced.

First of all, in order to abide with the Islamic laws regarding interests, all Islamic banks usually ask for a large down payment on goods or property being procured.

Some banks may even ask for collateral equal to the amount of the bank transaction.

Islamic Banking - The Practices

Now how the interest system works? Banks will purchase the property or goods the bank client instead of granting a loan.

The client or buyer will then enter into an agreement with the bank wherein the buyer agrees to purchase the goods or property from the bank at a higher amount.

Therefore, the transaction is more of an exchange of goods and not a loan; the bank therefore is permitted to make some earnings.

This method of loan granting is termed Murabaha wherein a property or goods are procured through an Islamic bank that complies with Sharia.

Islamic banks also practice Wadiah wherein the bank clients transfer money to the bank to keep until a certain debt is paid off.

While the customer’s money is with the bank, the bank is permitted to use the money for investments and generate profits for the bank.

Islamic banks are also allowed to charge service fees for keeping the bank accounts of customers safe.

There are some Islamic banks that provide Hibah or a gift to customers who are able to pay their debts.

If you want to learn more about the principles of bank interests in Islam banking system, you may visit any of the websites of the numerous Saudi Arabia Banks.



The Bank of Credit and Commerce International – An International Bank of Pakistan

International Bank of Pakistan - Banking

Have you heard about Bank of Credit and Commerce International, an International Bank of Pakistan that became the seventh largest bank in the world in just ten years?

Yes, it was a very successful bank; but was forced to close because of many unfortunate practices and banking deals.

You may read numerous stories, news, reports and investigations about this bank that are not pleasing, but the fact still remains that it was a successful bank.

International Bank of Pakistan – BCCI’s Ups and Downs

This International Bank of Pakistan was established in 1972 by a Pakistani financier named Agfa Hasan Abedi.

BCCI’s registration was in Luxembourg, but its head office was in London and majority of its operations were running in Karachi.

The founder, Abedi, together with numerous Pakistanis dealing with international banking worked to make BCCI a global banking institution with more than eighty percent of the top executive positions at the main office and branches worldwide were occupied by Pakistanis.

Apparently, this bank had about four hundred branches and assets amounting to more than US$20 billion, which made it one of the largest banks in the world at the height of its operations.

However, the popularity and presence of the bank in many places coupled with the unique banking practices of its founder caused its downfall.

You may wonder how a bank’s success can be the cause of its downfall. To understand the ups and downs of BCCI, you must know the bank’s history and how it operated together with the relationships it had established.

Numerous reports, write-ups, and documents have been written about International Bank of Pakistan. As a summary, here are the factors and events that caused the closure of BCCI:

Bank Secrecy

International Bank of Pakistan - Ups and Downs

It was reported after an investigation made by US and UK investigators that the bank had been created to deliberately avoid centralized regulatory reviews and had operated largely in bank secrecy rules.

Therefore, the bank’s dealings were extremely complicated because its executives were high caliber international bankers whose seemingly primary purpose was to make their dealings secret, to do fraud on a large scale, and to skip detection.

Terrorists Use of the Bank

Due to BCCI’s unique banking practices, it was an easy choice for terrorists and other fraudulent entities.

During the 80s and early 90s, this bank was used by terrorist group led by Abu Nidal. The terrorist group used fake identities to open bank accounts and used these accounts in financing their terrorist movement.

Relationship with CIA and Other Foreign Intelligence Agencies

The relationship of BCCI with CIA and other foreign intelligence agencies is one of the most perplex factor in the ups and downs of this bank.

Due to the environment of secrecy among these entities, it was difficult to get the exact information.

However, it was reported that the CIA have used the bank to move drug money to Afghan Mujahideen in its battle against Russian invasion and to Nicaraguan Contras.

After the downfall of the Russian Empire; the bank then became the object of an undercover operations led by the US Customs Service for about two years.

These are just some of the factors that led to the ups and downs of BCCI, an International Bank of Pakistan that should have been a contributor to the banking world instead of being a menace.



International Bank of Kuwait‘s Personal Banking Services

International Bank of Kuwait - Reliable BankingDo you have a personal bank account with International Bank of Kuwait?

If you are from Kuwait or living in Kuwait, you will definitely not miss out having an account with this bank.

International Bank of Kuwait operates in compliance with the Islamic Shariah and has been in existence since 1973.

It has twenty four branches all over the State of Kuwait and covers all banking and financial services including credit cards and charge cards.

The Personal Banking Services of International Bank of Kuwait

The personal banking services of International Bank of Kuwait are considered one of the best banking services in Kuwait.

These services consist of:

Personal Banking Accounts – the personal banking accounts of these banks include the following:

  • Al Nafees Account which is an account particularly created for professionals. This salary account is for professionals earning KD1000 and above. Customers with this type of account are initially given free checkbook, free Visa Debit card, free Al Momayaza or Al Moyassira Visa Card for the first year and twenty five discounts on annual fee for Safe Deposit Lockers.
  • Rimas Account is an account specifically fashioned for women with KD600 monthly salary or above. The female customers under this account get free checkbook, Al Momayaza or Al-Moyassira Visa Card, and twenty five discounts on annual fee for Safe Deposit Lockers for the first year of banking. They are also given free Visa Debit Card which they can use in over 950,000 ATMs anywhere in the world.
  • Habboub Account is for children aged one day up to fourteen years old. Parents can use this account to teach their children about banking and money matters. Wouldn’t it be fun when you finally endorse to your child his bank account at the time that he or she knows already about money matters? Learning how to save is a very important factor in an individual’s financial success. This bank account requires no minimum account balance and gets free Habboub Visa Debit card and annual distribution of profits.
  • Bank Cards Services of International Bank of Kuwait include credit cards, charge cards, and prepaid cards.

    The Credit Cards offered are:

  • Al Moyassira Visa Credit Cards are available in Gold and Classic which you can use for eating out, shopping, and online purchases.
  • Visa Platinum Cards are designed to provide the needs for dining, travel, shopping, and comfortable lifestyle for the bank’s valued customers. The Charge Cards offered by KIB are the Classic Al-Momayaza Visa Charge Cards and Gold Al-Momayaza Visa Charge Cards which suit your needs and lifestyle. KIB’s Prepaid Cards consist of:
  • Visa Prepaid Cards that you can use any place worldwide that accepts Visa at anytime. This is one of the safest methods of carrying money when travelling abroad.
  • Visa Gift Cards are perfect as gifts for any occasion. They are very simple to use. The recipient only needs to charge his purchase at the Visa outlet where he wants to shop.
  • Al Dawli Visa Prepaid Cards are ideal for people who travel abroad. Holders of these cards can book flights, withdraw cash, shop online or make hotel reservations anywhere worldwide.
  • International Bank of Kuwait - Financial and Banking Services

    Islamic Financing Servicesinclude the services for Murabaha and Finance Calculator. Murabaha services consist of Real Estate Murabaha, Vehicle Murabaha, and Goods Murabaha.

    The Real Estate Murabaha Services are exclusively for Kuwaitis and GCC nationals working in public, government and private sectors with a minimum income or salary of KD350 monthly.

    On the other hand, the Vehicle Murahaba Services which are also offered to GCC nationals and Expartriates, and Kuwaitis working in the government, private and public sectors do not need to provide any form of guarantee and the minimum income required is only KD200.

    Goods Murabaha Services have similar offer, features and benefits with that of vehicle murabaha services.

    The Finance Calculator services help account holders calculate their monthly installments.

    Investments Services are composed of the Al Joud Al Muthmira Deposits and the Al Baraka Investment Deposits.

    Al Joud Al Muthmira deposits are flexible, pre-determined and very profitable; while Al Baraka Investment deposits are offered in either local or foreign currency.

    Other Services of International Bank of Kuwait that customers can enjoy and avail of include the Safety Deposit Boxes, and the Customs Bills Payment Services.



    International Bank of Bahrain’s Decrease in Net Profits

    It was reported that International Bank of Bahrain has decreased its net profits for the first three months of 2013 compared with the same period of 2012.

    The net profits of IBB for the first three months of 2013 is US$1.8 million compared to US$2.7 million of 2012.

    Is this decrease because of inefficiency in management? It is not necessarily so.

    Dr. Zakriya Higris, the CEO of the bank mentioned in his statement that the net profits is a reflection of the bank’s strategy and effort to simplify and diversify its operations as a result of the recent low period in the banking industry.

    International Bank of Bahrain - Success

    As reported, the banking industry suffered downfalls due to the changes in the international markets. Some banks did survive while others did not.

    Apparently, IBB has survived and has made efforts to stand firm and continue serving their customers with the best products and services that it can offer.

    The bank sets their focus on prospering their existing investments in order to uplift its basic performance while continuing to invest on more promising investment opportunities, which will eventually provide good income for its shareholders.

    IBB has begun it operations in the Kingdom of Bahrain since 2007 with the purpose of providing Shariah compliant investment and banking services.

    It also provides services such as private investment services, real estate investment services, money markets, financial management, and consultation service.

    The customers of IBB consist of government institutions, prominent companies, families, and individuals.

    International Bank of Bahrain and the Bahrain Economic Development Board

    International Bank of Bahrain’s existence and success is related to the Central Bank of Bahrain.

    Why is this so? It is because CBB is the number one monetary authority in the Arab area under the Bahrain Economic Development Board when it comes to innovation, regulation, license management, non-discriminatory treatment, and operational efficiency.

    Therefore, IBB has been guided and supervised by the best regulatory financial institution in the Middle East. Also, Bahrain has been internationally regarded for more than forty years as the financial capital of the Arab world.

    The Central Bank of Bahrain supervises the financial services, which enable the different businesses in Bahrain to function all over the Kingdom with regulated restrictions.

    Other international banking groups that exist in Bahrain include HSBC and Standard Chartered Bank, Citibank, BNP Paribas and Merrill Lynch.

    On the other hand, the Middle East banks based in Bahrain include Arcapita, NCB Capital, GIB, Arab Banking Corporation, Arab bank and more.

    International Bank of Bahrain - CBB

    Among the financial services provided by the Board in addition to the Central Bank of Bahrain are banking, Islamic finance, Takaful, Islamic banking, insurance, capital market, funds administration and management, sovereign wealth funds, logistics, professional services, education, real estate, events and conferences, information technology, automotive manufacturing, and tourism.

    Dealing with a highly reputable Board and a Central bank that can truly support a bank such as IBB, customers are assured of the best products and services that a bank can provide.

    But, there are also other financial regulators that are based in Bahrain such as the Liquidity Management Center, Accounting and Auditing Organization, Islamic Financial Institutions, Int’l Islamic Financial Market, and the Islamic International Rating Agency.

    Definitely, International Bank of Bahrain gets a thumbs up from all these regulatory institutions; thus considered as one the best banks in Bahrain.



    Alinma Bank – One of Saudi’s Best Banks

    What makes Alinma Bank one of the best banks in Saudi Arabia?

    Alinma Bank - One of the Best Banks in Saudi

    During the second quarter of last year, the bank marked increased net profit to SR 179m from earlier year’s income of SR102m; and its net total income rose by fifty eight percent or SR484 as compare with previous year’s SR307.

    Moreover, an increase of thirty seven percent on the company’s assets is noted; SR44.19bn from SR32.35bn.

    These are in line with the bank’s aim of being a preferred financial partner in the region. They endeavored in achieving this vision by providing innovative and extraordinary products and services that are in compliance with Shariah method.

    The bank extends effort of expanding their reach to the Saudi Arabia regions by putting in place branches, Automated Teller Machine networks and wide range of electronic media services including Alinma Internet, Alinma Phone and Alinma Mobile.

    The Alinma Bank with its intention of providing solid financial solutions in the Kingdom helps in the achievement of sustainable growth as well as contributes to the needed community service.

    The company believes that the attainment of success relies on the internalization and demonstration of values, which forms the backbone of their relationship with their partners.

    Alinma Bank – Unique Banking Services

    One notable effort of Alinma in fulfilling their commitment is the adoption of unique banking services. These are as follows:

    Alinma Phone. Through this service, customers can access their account any time without the need of visiting bank branches.

    Clients just have to call the toll-free number in order to do their daily transactions. The system requires following simple interactive procedures in getting the service they need.

    Alinma Phone is convenient and secured; providing banking capabilities wherever you may be.

    Alinma Internet. The banking service of Alinma through the Internet is the most convenient and secured way of banking that customer can do at home, office or even while travelling.

    These means access of account 24 hours daily, seven days a week and performing money transfers easily for both local and abroad.

    Customers can check their bank accounts, credit card balances and obtain current currency exchange rates. They can also view their current account and card statements as well as download or print them conveniently in formats such as PDF, Excel, Web Connect and Microsoft Money.

    Alinma Bank - Offers Unique Banking Services

    Alinma Mobile. Be able to simplify banking to save time and efforts through mobile banking service of Alinma.

    The service has features and benefits that are available for customers 24/7 at the most reliable level of security.

    Simplify bank and credit card accounts management with lesser effort and enjoy security and privacy on all banking transactions.

    SADAD Bill Payment. Have the ability to pay bills including utilities, government required payments and other bills conveniently any time.

    The system facilitates payment of bills that are due, prepaid payment, advance payment, partial payment and effect refund according to the service provider policies.

    The Alinma Bank provides their customers with automated alert services using SMS messages. Be able to track and document account transactions consistently, which includes deposits and withdrawals.

    These services extend accurate bank transactions documentation for easy and immediate reference of bank account any time.


    Easy Issuance of AlBilad Credit Card

    Getting an AlBilad Credit Card is truly very easy.

    AlBilad Bank has hired the services of a digital security provider named Gemalto for instant issuance of cards in over 120 of the bank’s branches in Saudi Arabia.

    With the use of Dexxis Instant Issuance, solution that is customized in Arabic allows bank staff of bank branches to issue cards in less than three minutes to bank customers.

    With this system, the customer is guaranteed to immediately receive their cards in person.

    Therefore, you don’t only easily get your credit card; but you also get the security you need when making purchases anywhere across the Saudi Arabia.

    What is an AlBilad Credit Card?

    AlBilad Credit Card is a first-rate Shariah compliant credit card that is accepted in Saudi Arabia and worldwide.

    If you need cash, you can withdraw at more than 500,000 ATMs or pay for your purchases at more than thirty million POS in the Kingdom and worldwide.

    These cards can give you numerous benefits and world-class features that include:

  • Islamic Credit Card – These credit cards are Shariah compliant cards that can be used in the Kingdom and almost anywhere in the world.
  • Supplementary Credit Cards– You are not the only one who can enjoy using these credit cards. Your family members can obtain supplementary card and share the benefits with you.
  • Worldwide Acceptance – You can use these credit cards across the Kingdom and anywhere in the world through the more than thirty million POS worldwide.
  • Instant Cash – Getting cash from about eighty thousand ATMs across the world is achievable by simple making a withdrawal.
  • Payment of Utilities – Paying your utility bills is very easy and convenient through these credit cards. You need not travel to different offices just to pay your bills. All you have to do is to pay online with your credit card.
  • Easy Access to Numerous Services – With these credit cards, you can easily access various services through the bank’s Phone Banking and website.
  • Longer Due Dates – You are given a fifty-day accounting cycle before your payments become due. This is very convenient compared to the usual thirty-day period given by most credit cards.
  • Application Requirements for AlBilad Credit Card

    AlBilad Credit Card - Features Worldwide Benefits

    In order to avail of the various benefits, features, and services of AlBilad Credit Card; you must first own of these credit cards.

    Phone Banking services are some of the best services you can avail from these credit cards. These services include Personal Answer Services, IVR, AlBilad Internet Services, and many more.

    A filled out current account application form should be made available as a first requirement.

    You should also have a valid identification card or a Family Registration Card if you are from Saudi Arabia, Iqama or a passport if you are not from Saudi.

    A current colored photo is also a requirement.  If you are employed, you need to present a letter of employment from your employer including your monthly salary, your position, grade title, date of employment and your contract expiration.

    In case you own a business, a valid copy of your business registration is necessary.


    What to Expect from Gulf International Bank

    Is Gulf International Bank what customers expect to be? Have you had any experience with this bank?

    Oftentimes, bank customers have numerous expectations that their bank cannot totally deliver.

    Gulf International Bank - Leading Commercial Bank

    With GIB’s competitors such as Arab Banking Corporation, The Saudi British Bank, and Ahli United Bank; don’t you think GIB will make sure that the expectations of the customers are met?

    Accordingly, this bank which was established in 1975 is a merchant bank that focuses on the gas and oil industry.

    In particular, GIB is incorporated in Bahrain with registration number 4660 and licensed as a traditional commercial bank.

    The primary shareholder of this bank is the Public Investment Fund of Saudi Arabia.

    Its major customers consist of large corporations and financial establishments that operate in the Persian Gulf area.

    The primary goal of the bank is to become an international commercial bank with global outreach, regional expertise, and pioneering financial solutions.

    It also aims to be a profitable partner with updated technology and excellent human resources.

    Wholesale Banking of Gulf International Bank

    The main responsibility of the Wholesale Banking division of Gulf International Bank is towards the financial products that include Shariah compliant banking, wholesale commercial funding, project financing, investment banking, structured financing, GCC bond origination, syndications and agency, and GCC asset trading.

    Actually, the Wholesale Banking division of GIB takes care of the GCC market for the bank. The division makes sure that bank’s procedures and systems to reach the GCC market are consistent and thorough.

    A long-lasting relationship that is beneficial both to the bank and their customers is always a priority in offering products and services.

    Aside from performing responsibilities for the different products offered by Wholesale Banking, the division also has an International Banking group which caters to non-GCC customers.

    The International Banking group focuses more on contract guarantees and trade financing that is offered to institutions in Europe and North America, and corporations with business relations with the Gulf market.

    GIB is also an expert in underwriting, term financing and wide range of debt financing products that include Islamic finance, syndicated debt finance, capital markets, and export credit.

    Through these products, the bank has been ranked consistently as the best in the Middle East for project financing.

    Why is Gulf International Bank Named as Bahrain’s Best Investment Bank?

    Gulf International Bank - Focusing on Oil IndustryThe recent successful performances of Gulf International Bank’s investment banking business have helped the bank to be chosen as Bahrain’s best investment bank for 2013.

    The editors of Global Finance, a New York-base magazine, based their choice on several criteria that include number and size of transactions, market share, advice and services to customers, distribution network, structuring abilities, innovation, efforts to cope with market conditions, pricing, and after-service performance of underwritings.

    Profitability, quality of staff, and financial strength of the bank are also considered for making the choice.

    GIB offers innovative solutions for private placements, restructuring, private sales, mergers, acquisitions, IPOs, and underwriting equity primarily for the GCC states which makes it the leading bank in the Middle East.