Al Rajhi Bank Signs Strategic Co-op MoU on Self-service Channel

Al Rajhi Bank signed a memorandum of understanding with GRGBanking and Hemaia Group in GRG’s Guangzhou headquarters on June 2, 2013. Under the MoU, the 3 strategic partners will seek opportunities to develop projects of the Bank’s self-service channels in Saudi Arabia.

 

Mr. Suliman bin Abdul Aziz Azzabin, CEO of Al Rajhi Bank, with Mr. Hussain Faie Al-Naami, CEO of Hemaia Group and Mr. Mark Yip, Managing Director of GRGBanking signed the MoU. Mr. Azzabin believes that, with the alliance of cutting-edge cash processing technology from GRGBanking and leading experience in local cash-in-transit industry, Al Rajhi Bank can bring more convenience and innovative user experience to its customers.

 

 

Before the signing ceremony, delegates from Al Rajhi Bank and Hemaia Group visited the showroom, R&D Institute and manufacturing center of GRGBanking to learn the latest cash processing technology in the industry. The visit strengthened Al Rajhi Bank’s confidence in GRGBanking’s R&D capability as a comprehensive solution provider.

 

 

 


 

With an established base in Riyadh, Saudi Arabia, Al Rajhi Bank has a vast network of over 500 branches, over 100 dedicated ladies branches, more than 3,100 ATM and 25,000 POS terminals installed with merchants and the largest customer base of any bank in the Kingdom, in addition to 130 remittance centers across the kingdom. The first men's branch was opened in Aldirah in 1957, with the first ladies’ branch opened in AlShmaisi in 1979.

 

About Al Rajhi Bank

Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of over SR 221 billion (US$ 59 bn), a paid up capital of over US$4 billion and an employee base of over 8,400 associates. With over 50 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company. Deeply rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development.

 

About Hemaia Group

Established in 1996 in the eastern province of Saudi Arabia as a “Support Services Company” providing security staffs and support staffs to cater the daily needs of both financial and private institutions in the Kingdom. In 1991 it obtained Ministry of Interior license to move/transfer cash Kingdom wide.

Currently as one of the leading providers of secure transportation, cash management and ATM replenishment services, Hemaia has been delivering these services in full fledge since 2001. The company is a full-service provider of secure logistics solutions utilizing the advanced technology, equipment and communications systems to provide end-to-end cash management.

Hemaia Group is GRG’s partner for Saudi Arabia to provide the state-of-the-art products manufactured and marketed by GRG.

 

About GRGBanking

GRGBanking is a leading provider of currency recognition and cash processing solutions in the global market with great potential and rapid development. GRG specialize in the development/ manufacturing of Automatic Teller Machine (ATM) for financial institutions and retailers, Automatic Fare Collection (AFC) devices for railway or underground systems, as well as other currency recognition and cash processing equipment, modules and systems for over 20 years. Besides, GRG’s various Multi-Channel Software Solutions and Services cover the needs of the financial industry, retail, transportation, payment, self-service, cash automation, cash management outsourcing and managed services, customized for different customers around the world.

Headquartered in Guangzhou, GRG is the No. 1 ATM supplier in China and a top 6 player in the global market. GRG’s products and solutions are widely used in over 70 countries and regions worldwide, with over 110,000 machines providing reliability, security and convenience to over 10 million people on a daily basis.