Riyadh & Tokyo, Oct 26, 2020 - (ACN Newswire) - Riyad Bank, a listed company on the Saudi Arabia Stock Exchange in the Kingdom
of Saudi Arabia, and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., announced
that Riyad Bank had signed a partnership agreement with JCBI to enable the acceptance of JCB Cards at all Point of Sale
systems, online and ATMs throughout the Kingdom of Saudi Arabia.
As part of a push to make the Kingdom a cashless society and support for financial inclusion that is both in line with
the aims of the Saudi Vision 2030, this partnership will enable JCB Cardholders to use JCB Cards through Riyad Banks's
network for Point of Sale and ATMs across Saudi Arabia, thereby providing greater convenience for JCB's globally
increasing cardholders in Islamic markets such as Bangladesh, Bahrain, India, Indonesia, and Pakistan.
"I am delighted to announce this partnership in consideration of the Vision 2030 and the ever-closer relationship
between Saudi Arabia and Japan." Mr. Yoshiki Kaneko, President & COO of JCB International Co, Ltd. said, "Along with the introduction of the tourist visa program last year, which
offers visas to citizens of 49 countries, a larger number of JCB Cardholders is expected to visit Saudi Arabia on top of
our Muslim cardholders in Asia. We position Saudi Arabia as the most significant market for expanding our business in
the Middle East. I am certain this partnership will benefit both our cardholders and Riyad Bank's merchants for their
convenience and in terms of the opportunity with the new payment option."
Mr. Mohammed Abo Al-Naja, Riyad Bank Executive Vice President Corporate Banking: "It is our pleasure that we are one of
the first Banks in the Kingdom to avail the acceptance of JCB Cards at its merchant locations. The partnership is in
line with the Vision 2030 in promoting a cashless economy. This move would greatly benefit pilgrims visiting from the
Far East where our partner JCB has a strong presence, and the ever-increasing number of tourists visiting the Kingdom.
JCB Cardholders will have the option to use their cards in a wide range of outlets capitalizing on our leadership
position in the market. Furthermore, this complements our strategy and vision to bring to the market the latest and most
innovative offerings while addressing the needs of our merchants and the market."About Riyad Bank
Riyad Bank is one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East. Riyad Bank
was established in 1957, with a paid-up capital of SAR 30 billion. It provides a comprehensive range of products and
services to meet the needs of both retail and corporate customers, including SMEs. Riyad Bank plays a leading role in
various areas of finance and investment in Saudi Arabia, that is why it distinguished as a leading financier and
arranger of syndicated loans in the oil, petrochemicals, and most of the Kingdom's notable infrastructure projects.
Riyad Bank offers innovative and remarkable financing solutions through a network of 308 branches and more than 45,000
POS, in addition to more than 2,542 ATMs well distributed in strategic & carefully selected locations around the Kingdom. It had a branch in London and offices in Houston (USA), and Singapore
helps support the international banking needs of such customers. Also, it has electronic banking services (web-based and
mobile applications) that use the latest electronic technologies to address the banking needs of our customers with
utmost ease, convenience, and security.About JCB
JCB is a global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in
Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 34 million merchants as well
as cash advance locations around the world. JCB Cards are now issued in 24 countries and territories, with more than 140
million cardmembers. As a comprehensive payment solution provider, JCB commits providing responsive and high-quality
service and products to all customers worldwide. www.global.jcb/en/