Credit Advisory

Providing assistance and advices to customers in making the right banking decisions.

Awareness and Education

Increasing customer awareness of the banking products and services that best suit their needs and as well as enhancing their understanding of their banking rights and responsibilities. 

Credit Advisory Services

How Credit Advisory Can Help?

Credit Advisory section has a dedicated team with excellent banking experience to:

  • Deal with disputes between the customer and the concerned departments in the bank that issue credit cards, debit cards and loans without going to SAMA.
  • Provide customers with guidance, advices and successful banking solutions for customers that applied for personal finance or mortgage or credit card to help them in making the right banking decisions and provide them with full information of the credit contract and how it could match their other financial commitments.
  • To guide the customers, how to be aware of their rights and responsibility as well as bank rights.

Credit Advisory Tips

How to manage your money step by step

Do you feel like whatever you earn every month is slipping through your fingers? Many share the same feeling, most of us are lost when it comes to money management.

So that to control this issue, All you need is a little bit of time to read the simple, step-by-step method we’ve outlined for you to start managing your money to accomplish your financial objectives.

Plan your finance smartly

Financial goals reflect things you want to do with your money within a certain period of time. Setting these goals will help you understand the value of money and encourage prudent spending. Be sure to know how long you should plan for each goal.

Are they short, medium or long term goals? Which one of the following are your financial goals?

  • Buying a House
  • Buying a car
  • Traveling
  • Child’s education plan

Know where your money goes to

Start developing a spending plan so that it’s easier to achieve your goals. Remember that your aim is not to cut your budget but to note the direction of your spending.so you will know:

  • Where and how you spend your money?
  • How much you owe monthly?
  • How much is left at the end of the month?

Then, look through your list of expenses and determine if they are a necessity or luxury item.

Be Committed

Many times goals are not reached because the action was never taken. Having a plan, by itself, doesn't mean you will reach your goals. You must be committed to do the things listed in your plan.

Remember SMART Goals should be :

  • S- Specific
  • M-Measurable
  • A- Achievable
  • R- Realistic
  • T- Time

Tips You Should Know :

  1. Purpose of the loan
  2. Loan period suit you (short, medium, long).
  3. Source of repayment
  4. Method of payment
  5. Bank rate and fees/charges.
  6. Principle amount including bank interest
  7. Transparency and credibility when fill the application
  8. Red and understand terms and condition for product & services and get your copy either Arabic or English
  9. Be committed on payment to avoid delinquency.
  10. Get a credit advisory consultation if needed.

Education And Awareness

 

Financial Awareness and Education Portal

Awareness and Education portal established to Increase customer awareness of the banking products and services that best suit their needs as well as enhancing their understanding of their banking rights and responsibilities and financial planning.

Awareness is power especially designed to equip people (in all life stages) with essential financial knowledge ,providing them the confidence and ability to make responsible financial designs.

Life stages

We go through different stages in life, facing different situations and embark on new adventures each time. Be prepared to face your future. Be sure that you and your family are financially secure. Learn how you can make the most of your money with our life stages financial strategies.

Kids Plan:

Goal

Provide practice developing effective spending plans and following where money goes.

  • Grades: between 6- 12 years old.
    Children in grades 6 -12 are capable of managing small amounts of money. They can divide their money into several categories, including "spend," "save," and "give." At the same time, they can spend their money and keep a record of what was spent and what was saved.

Teens Plan:

  • Children between 13-17 years old.
    A teenager between 13-17 years old should have a strong background in financial fundamentals by the time he or she attending college . The education and awareness training here build upon that foundation with discussion of the skills required to meet a lifetime of financial challenges.
    Also to provide them with an opportunity to learn more about decision-making, to be encouraged to consider various topics related to career planning.

Adults:

This is the time that you need to deal on your own and managing your personal finances. Learn to manage your money properly and calculate your budget

Consider putting your allowance into a bank account . Providing you with an efficient way to save and withdraw money, this account will also enable you to apply for internet banking services to conduct online banking.

You should learn the basics of saving to ensure continued financial stability and security.

Special needs:

Everyone you know and everyone you will ever meet is special and different in some way. Often, the hard part is accepting others because they are different and knowing how they might want to be treated.

Plan for future development of the personal and finance skills. There are a lot of products and services to meet the needs that will help you cope with the circumstances of life.

Start Now:

Place the proper plan suits your needs and requirements ... and do not forget your goals should be SMART that giving criteria to guide in the setting of objectives

Consumer Protection Code

Consumer Protection

Click here to view or download the file.

Financial Consumer Tips & Alerts

Common Fraud

Spam Emails are a type of spam that is distributed by Emails involving nearly identical messages sent to numerous recipients by email. The messages may contain disguised links that appear to be from familiar Sender/Websites but in fact it leads to phishing web sites or linking to a malware trap. Spam emails may also include malware as scripts or other executable file attachments. Definitions of spam usually include the aspects that email is unsolicited and sent in bulk.

Do’s & Don'ts to Spam E-Mails:

  • Don't release any emails that seem Suspicious in your email SPAM Quarantine.
  • Don't Open suspicious emails.
  • Don’t Release emails in your SPAM quarantine without reading the email body in the quarantine itself.
  • Do verify the sender of the email in the SPAM Quarantine and make sure it is the same sender once you released it.
  • Do take a moment and think prior to Releasing, Replying or Forwarding to an E-mail.
  • Do Verify the email with the sender in case you know him.

Foreign scams: phone call about a foreign investment that is 'too good to be true'.

Telemarketing scams: commonly include prize offers, travel packages, investments, charities, work-at-home schemes, magazine sales, and business /educations opportunities.

Automatic debit scams: fraudulent telemarketers use this technique to improperly take money from accounts. DO NOT give out account information over the phone unless you are familiar with the company.

Toll-free scams: Make sure the calls are really free.

Prepaid phone card scams: Selling prepaid calling cards may involve a multi-level marketing scam with a large up-front fee.

Financial Tips / Alerts

Fraud Warning Signs

How to avoid becoming a victim

  • High-pressure sales techniques
  • Insistence on an immediate action
  • Offers that sound too good to be true
  • A request for your credit card number for any purpose other than to make a purchase
  • An offer to get your money quickly (e.g. send someone to your home or office to pick it up).
  • A statement that a product or service is free, followed by a request that you pay for something.
  • Claims of an investment that is 'without risk'.
  • Inability or refusal to provide written information or references about the company, product, service or investment.
  • Don't be pushed into a decision
  • Request written information about organization and product or investment.
  • Don't buy anything on terms that you don't fully understand
  • Request the name of the government body by/with whom the firm is regulated or registered
  • Investigate the company or organization.
  • Find out about refund, return and cancellation policies.
  • Don't believe testimonials you can't verify.
  • Don't provide any personal financial information. If you must, hang up!

Customer Responsibilities

Sequence Responsibilities Followed procedure
1 Provide correct and complete information Fill out the required forms and data and be true, complete, accurate, and disclose important information.
2 Carefully read the information provided by the financing authority The customer must carefully read all the details and information provided to him by the bank and make sure that he understands them well, so that he is aware of his obligations and duties arising when he obtains the product.
3 Ask questions It is important for the customer to ask questions to the bank's employees regarding any incomprehensible item and to make sure that he understands all the terms and conditions related to the product or service provided to help him make the right decision.
4 Submit a complaint The bank will provide the customer with the necessary details to submit the complaint if he is not satisfied with the service provided, and he will be informed of the time frame and the result will be provided to him after the complaint is addressed.
5 Compliance with the terms and conditions The customer should not use the product in violation of the agreed terms and conditions and ensure that they are fully understood.
6 Avoid risks Some services or products contain varying levels of risks, so the customer must obtain the service or product that is commensurate with his financial situation.
7 Choosing the right service or product The customer must choose the product that fits with his needs, and he must disclose all his obligations with all parties to be able to fulfill the obligations arising after obtaining the product or service.
8 Report suspicious operations The customer must inform the bank immediately if his account is exposed to any suspicious or irregular operations, so that the necessary measures can be taken.
9 Confidentiality of banking information The customer should not provide any details of his banking or personal information under any circumstances, and everything related to his account information must be kept confidential.
10 Consultation request from the bank If the customer encounters any financial difficulties, he should seek advice from the bank.
11 Update information The customer must update his personal information with the bank, including contact information, and the customer will be responsible for the correctness of this information or for the fact that he did not provide it to the bank.
12 Postal address and contact numbers The customer must provide the bank with his address (e-mail or regular mail) and his contact numbers and not use other addresses that do not belong to him, such as those of friends or relatives, which may lead to the disclosure of his financial information.
13 Official Agency The client should be careful in granting the official agency to third parties, to complete his banking and financial transactions.
14 Avoid signing incomplete documents The client must make sure that all the required data and fields in the forms and documents are complete, and he does not sign any blank or incomplete document
15 Review all information The customer should review all the information in the operations form, such as the account number, the amount, or the beneficiary's data, because the customer's signature means his approval of the content of the form.
16 Get a copy of the documents The customer has the right to obtain and keep a copy of the contracts and documents signed by him.

Communicate with a Credit Advisory

Dear Customer,

Contact us to get advices on the best products that suits your financial status and obligation. Our advisors will support you with the highest level of transparency in order protect your banking rights.