Stemming from its continued keenness to provide the latest innovative banking products and services to its corporate clients, Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of the “Ratbi” platform, which allows the Bank’s corporate clients to enable their employees to access part of their earned salary on demand and before payday.
The announcement comes in implementation of a Memorandum of Understanding signed between KHCB and “Ryalize” earlier this year, enabling the Bank’s corporate clients who join the platform to allow their employees to withdraw any amount from their available balance before payday for a nominal fixed service fee, with no profit on the service.
“Ratbi” will form an ideal choice for companies wishing to achieve a positive impact on their employees’ performance, stability, and productivity as well as enhance their institutional loyalty, as this platform will help corporate employees to take better control over their money and meet any urgent financial obligations.
On this occasion, Mr. Ahmed Mohamed Burashid, Head of Corporate Banking at KHCB, stated: “We are delighted to announce the launch of this new service in cooperation with Ryalize, where the “Ratbi” platform will be an option for our corporate clients to provide their employees with a special privilege. It is the first of its kind in the Kingdom and is considered an added value to the benefits offered by these companies to their employees, helping them achieve financial stability and providing a stimulating environment for work and productivity. This platform reflects the Bank’s commitment to the pioneering approach it follows through employing the latest in financial technology to enable both corporate and individual clients to conduct various banking transactions with utmost ease and security.”
For his part, Mr. Khalid Alshakrani, CEO of Ryalize, said: “We are pleased to launch the “Ratbi” platform in cooperation with KHCB, as this service is considered the first of its kind in the Kingdom of Bahrain and will be soon introduced to other markets, and it is a launchpad to provide “Ryalize” services in cooperation with banking institutions in the Middle East. We hope that this service will enable companies to achieve balance in their financial flows and raise the level of productivity, by investing in their employees’ loyalty through contributing to the alleviation of impacts caused by financial burdens on their performance.”
KHCB is a leading Islamic bank that strives to achieve clients’ aspirations through an Islamic banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
“Ryalize” is a Fintech platform founded in Singapore in late 2019. The company partners with Financial Institutions, to serve the needs of their Corporate and Retail clients by providing cost-effective and seamless micro-solutions that will enable Financial Institutions to stay relevant, responsive, innovative and gain an edge in attracting new business.