Blue Card from American Express targets Saudi mid-income sector

Published June 12th, 2003 - 02:00 GMT

Launched in October of last year, Blue is the first Saudi Riyal Card to be issued by American Express. It targets the mid-income sector of Saudi professionals and includes a feature of one percent MoneyBack, by which one Riyal is credited to their account for every 100 Riyals purchased using the Blue Card. 

 

In addition, card-members can choose to settle their accounts in full without incurring any service charges or pay five percent of the amount due and spread the balance payments over time. 

 

“The Blue Card is being widely used for everyday purchases, such as in supermarkets, retail outlets, restaurants, as well as for luxury goods and travel.” said Mazin Khoury, chief executive officer of Amex (Saudi Arabia) Limited. 

 

Blue also allows card-members to withdraw cash from many ATMs in Saudi Arabia and the world (Express Cash) and insures recently purchased goods on the card (Retail Protection), against loss, theft or damage for up to 90 days. Online Fraud Guarantee insures against unauthorized use of tThe Card over the internet, and Travel Accident Insurance which is automatically extended to Blue Cardmembers when they purchase their airline tickets using their Blue Card. 

 

Amex (Saudi Arabia) Limited, is a Saudi company jointly owned by Amex (Middle East) EC and the Saudi Investment Bank. Amex (Saudi Arabia) Limited was established in 1999 as a joint venture company equally owned by Amex (Middle East) E.C. and the Saudi Investment Bank.  

 

It owns and operates the American Express Card and Merchant business in Saudi Arabia. The Saudi Investment Bank is a Saudi Arabian Joint stock company established in 1976. Amex (Middle East) E.C. is a Bahrain joint venture company equally owned by Mawarid Holding Company and the American Express Company. — (menareport.com) 

© 2003 Mena Report (www.menareport.com)


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