Al Rajhi Bank offers an amazing new service and threatens the throne of Tamara and Tabby

In a surprising and unexpected move, Al Rajhi Bank today announced its official entry into the fast consumer finance sector, through its ​​subsidiary “Emkan” getting a “buy-a- now, pay later” from the regulatory authorities the statement of the founder of Tamara, Abdul Majeed Al-Saikhan, in March 2024, in which he emphasized that banks cannot exclude fast financing companies from the market.

What does Al Rajhi offer?

Al Rajhi Bank seems determined to provide a competitive and strong service, as it can offer many benefits, including the following:

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• Ability to pay for a long time: Al Rajhi gives customers great flexibility in paying for their purchases over a long period of time, reducing their financial burden.
• There is no limit to the amount: The service will be available for different purchase values, without setting a specific cap, making it suitable for a wide range of customers and needs.
• Available to all bank customers without the need to register: The service will be available to all existing Al Rajhi customers automatically, without the need to open new accounts or register on external platforms.

Will Al Rajhi Bank succeed in competing with Tamara and Tabby?

Al Rajhi Bank has a great advantage represented by its large customer base, and its ability to serve them easily and conveniently without the need for additional procedures, which require customers to have accounts open new ones and register on their platforms.

It remains to be seen how the market will react to this new step by Al Rajhi, and whether it will be successful in attracting a large segment of customers, or whether Tamara and Tabby will remain at the forefront of the competition in this sector for sure in the coming period, which will benefit consumers in the end.

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