Al Rajhi Bank launched an instant digital bank guarantee issuance service through the Al Rajhi Business application and website, offering a seamless customer experience in submitting applications, the bank announced on 5 August.
Al Rajhi Bank became the first bank to provide instant bank guarantee issuance services, enabling customers to issue digital guarantees quickly, easily, and instantly.
This step aligns with Saudi Arabia's Vision 2030 in building digital governance and improving work efficiency by providing advanced digital solutions that facilitate business operations for companies, medium, small and micro enterprises.
The initiative aims to innovate digital solutions to ensure the continued provision of leading banking experiences for the bank's customers.
Al Rajhi Bank was the first bank to provide digital bank guarantee services through the "Etimad platform" and the first to launch automated bank guarantee operations with the Saudi Electricity Company through the "Bawatik" platform, subsequently extending the service to several government and private entities.
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