As part of its educational finance program, Riyad Bank recently signed an agreement to finance educational benefits with King Saud University, to enable graduate students at the university to deduct the costs of tuition seats without profit margin, administrative fees and concessional premiums.
The agreement was signed by H.E. Dr. Badran bin Abdul Rahman Al Omar, President of the University, and His Excellency Mr. Tariq Bin Abdulrahman Al-Sadhan, CEO of Riyad Bank, in the presence of a number of officials of both sides.
This agreement confirms Riyad Bank's constant efforts to provide innovative banking services and products that meet the needs of its customers and meet their wishes, and in order to bring about positive and sustainable change in the educational aspect of development in line with its strategy of social responsibility "Bukra", the vision of the Kingdom 2030 and its objectives aimed at building a brighter future for the country and the citizen.
"Social Responsibility" is the priority of Riyad Bank's strategic agenda, reflecting its firm commitment to corporate responsibilities towards its surrounding communities, its keenness to fulfil that responsibility, which is inseparable from its professional practices within its business sector as a leading provider of banking and financial services in the Kingdom, considering that the key role of any organization or business is its ability to serve its community, and actively participate in meeting the aspirations of comprehensive development plans.
Riyad Bank's educational financing program is one of the types of financing approved by the Shariah Authority for the sale of educational benefits, and one of the approved financing formulas for personal finance at Riyad Bank, and is characterized by the provision of immediate preliminary approval by the Bank for installment tuition fees without profit margin and in concessional installments.
The Bank allows customers who transferred their salaries starting from 5,000 riyals and more to participate in the educational finance program and obtain funding to pay tuition fees without profit margin and in easy term installments for up to 36 months, with the possibility of paying tuition fees to non-children as determined by the client.