Frequently Asked Questions

Business Services

Can the B2B system connect to the client’s account system directly?

No, there has to be a business connector in between.

Can the POS device integrate with the cash register?

Yes, we are ready to connect our POS device to your cash register. This innovative solution will speed up your workflow using fail safe advanced software to reduce errors and save time.

Can we pay utility bills with B2B solution?

Yes, Utility bills can be paid by using B2B SADAD Solution.

Is there a POS transaction report?

Yes, for better and more accurate POS transaction reporting, Riyad Bank provides a wide range of detailed reports that can be customized according to your business needs.

Is there online report for the POS transactions?

Yes, you can easily download the POS transaction report through your online banking platform.

What are the major differences between RiyadOnline and this B2B solution?

RiyadOnline corporate internet channel is a standard channel for all corporate clients, and the B2B is a direct integration between the client and the bank.

What is the daily limit for money transfers using the B2B solution?

The daily limit that can be setup for a company is negotiable.

What type of terminals do you provide?

Riyad Bank installs the latest POS terminals that offer a wide variety of the latest devices in the market such as desktop terminal, portable terminals, wireless terminals (Bluetooth) that are more flexible than other terminals, which can be used within a 60 meter radius, and at last GPRS terminals helps you operate your business easily from any place in the kingdom.

Finance

How much time does it take to study and analyze the request before providing the required finance?

It depends on the applicant’s cooperation with providing complete and sufficient documents.

What are the main principles of Islamic finance?

The Prohibition of Riba, which is the taking or receiving of interest and in addition to this risk in any transaction must be shared by enforcing the prohibition of speculative behavior (Gharar).

What can I finance with Contract Financing facility?

You can finance the purchase of equipment, machinery, goods or even your cost of labor.

What is Islamic finance and how does it differ from conventional banking?

For Islamic Loans, a profit margin is agreed upfront, and fixed for the period of the loan, this differs it from a conventional loan which is subject to interest principles. Islamic finance is asset based as opposed to being currency based. A deal is structured on exchange or ownership of assets and money is simply the payment mechanism to effect the transaction. The basic framework of Islamic finance is based on elements of Shari’a, which governs Islamic societies.

What is the most common use for Syndicated Loans?

It’s commonly used in mergers, acquisitions and buyouts, where borrowers often need very large sums of capital to complete a transaction, often more than a single lender is able or willing to provide.

What is the principal source of payback for the Projects Finance?

The principal source of payback is usually the cash flow generated by the project itself.

What is working capital finance?

The working Capital is the minimum cash balance that is required by a business to meet basic day-to-day expenses and to provide a reserve for unexpected costs.

Visa Purchasing Card

Can the customer select the type of categories for purchases?

Yes, different outlets can be selected for each card.

Can the card get printed with the company name?

Yes, it can be printed with an employee’s name or the company’s name.

Does the card get sent to the employee’s personal address or to the company’s address?

It’s optional and can be marked in the authorization form.

Credit Cards

Credit Cards

Distinct set of credit cards with innovative banking solutions to meet unique lifestyle.
Personal Finance

Personal Finance

Sometimes in life you unexpectedly need extra cash. Whatever the reason, it’s important you have a bank that you can trust and help you finance your requirements.
Ijarah Car Lease

Ijarah Car Lease

Owning a vehicle without having to pay the full amount upfront. Riyad Bank’s Auto Leasing program allows you to conveniently own a car of your choice.