GIB launches trial phase of retail banking services

Gulf International Bank BSC (GIB) has initiated its trial phase for retail banking services to Saudi customers under the meem brandname.
The bank will provide services to the retail banking sector “using a bold and innovative approach focused on technology” and will provide a suite of non-traditional products that are considered a new addition to the Saudi banking sector, which is set to propel the bank into a new era.
In developing its retail services for specific customers, GIB adopted the co-creation concept with a large target customer base using various social media channels over the last three years to contribute to the shaping of meem’s identity, as well as defining the bank’s product offering throughout the establishment phase. This co-creation experience is considered the first of its kind in the banking sector globally.
Meem is a registered trademark and an independent brand, offering a suite of innovative Shariah-compliant non-traditional banking services that are approved by the Saudi Arabian Monetary Agency (SAMA) and target a technophile customer base.
Initially, meem network comprises service centers in the three main cities — Riyadh, Jeddah and Dhahran — and is managed by GIB’s Saudi head office in Dhahran.
Yahya Alyahya, GIB CEO, stated that the launch of "meem" comes in response to the needs of a wide array of customers who want a new breed of banking services.
“By launching meem, we are enabling customers to benefit from a range of banking services that are both simple and flexible by availing effective solutions, which create a smooth and holistic banking experience.”
Gulf International Bank (GIB) offers a range of financial products and services that meet the needs of its customers, including investment banking services, asset management, financial market products, initial public and private offerings, sukuk and bonds issuance, and Shariah-compliant financial services.