The Saudi British Bank (SABB) recently launched a new business MasterCard Card for enterprises. The card will enable companies to manage their cash flow, as well as provide them with international access to their accounts, confirmed a bank press release.
Businesses utilizing the SABB Business Card can nominate the staff authorized to use it and their individual credit limit, enabling them to pay for their business trips, hotels and their daily expenses with the card.
“The transactions of all the authorized staff of a business would be provided in one consolidated statement of account every month, thus facilitating better information, less paperwork and more control,” said General Manager of Personal Banking Services Sulaiman Al-Hamdan
SABB was established in 1978 as a Joint Stock Company and. The Bank formally commenced operations with the taking over the British Bank of the Middle East in Saudi Arabia. The bank recorded a net profit of 830 million Saudi Riyals ($221 million) in 2001, up from SR87 million ($23 million) in 2000.
The bank operates through a network of 81 locations, which includes a branch in London and 13 women branches. SABB is an associated company of the HSBC Group, one of the world's largest banking and financial organizations. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
