After obtaining the approval of the Board of Directors and allocating a budget for supporting the program, Al Rajhi Bank launched an Employee Savings Program with special features and incentives last month.
This initiative is a reflection of Al Rajhi Bank’s strategy to become the employee’s first choice, and is also a part of the bank’s new policies and procedures adopted to implement that strategy. Undoubtedly, Al Rajhi Bank considers its employees as its most valuable resource; therefore, it spares no effort in training them, uplifting them, and providing them with stability so that they can be creative and achieve the best results in the banking sector. The program comes in line with the Saudi Vision 2030, which includes a goal of raising the total family savings from 6% to 10%. This aims at promoting a culture of saving and savings programs in our society, which will eventually have a great impact on the individual as well as the family and the economic growth of our country.
The new savings program allows the employees to save a monthly portion of their salaries, with a maximum percentage; then the bank will match that portion up to a certain percentage. This will motivate the employees to save and help achieve the best results out of the program. The program will run for 24 months, during which these funds will be invested through the Treasury Group in low-risk Shariah compliant portfolios, which will enable the employees to earn additional profit for their total savings and the supporting funds provided by the bank.
It’s worth mentioning that Al Rajhi Bank’s Human Resources Group adopted the strategy of ‘becoming a preferred employer’ through designing and launching comprehensive transformation programs with the aim of building a base of qualified, committed and experienced employees who are able to achieve outstanding results and an exceptional customer experience.