The Saudi Arab National Bank has recently presented a new investment scheme for retired customers appropriately entitled “Jawad”, or “generous”, according to Al-Hayat daily. The bank’s sources said that the new plan reflects the bank’s concern for the varied segments of its clientele.
The proposed investment plan will enable retired customers to maximize benefits from their salaries. The Arab National Bank is commissioned with distributing salaries of retirees previously employed by the State.
The Arab National Bank, founded in 1980, is one of Saudi Arabia’s ten commercial banks. At the end of 1999, the bank had total assets valued at over $9.5 billion. In 1999 its net income reached $88 million. —(MENA Report)
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