The Saudi Investment Bank won the award for the “Best New Retail Finance Product” at the prestigious Banker Middle East Product Awards 2012 held on March 27th, 2012 at the Emirates Towers Hotel, Dubai.

Competing against Banks across the region, SAIB won the award for its innovative “Shares Murabaha” based finance proposition, which has been receiving favorable feedback from customers since its launch in October 2011.

The SAIB Shares Murabaha solution provides customers finance to buy Sharia Compliant shares from the Saudi Tadawul exchange and gives them the flexibility to hold or sell the shares within a phone call from the customer. The SAIB solution offers amongst the lowest profit rates in the region. SAIB also guarantees financing within 24 hours failing which all processing charges are refunded to customers.