Banker Middle East, a magazine specializing in the financial and banking sectors, has awarded the Saudi Investment Bank the prize for the Best Loyalty Program in the Kingdom for 2016 for its “Waao, Asil” loyalty programs,  which are designed to offer customers multiple options for earning rewards and are recognized for their creativity and innovation across the region; each program is unique in terms of its rewards and how they can be redeemed.

The ’Asil“ loyalty program—the largest of its kind in the Kingdom and the Middle East—offers an instant discount when using Saudi Investment Bank’s Mada cards, as well as credit cards issued by the bank, at more than 300 partner merchants across various sectors. Meanwhile, the ”Waao” is the first of its kind in the Kingdom and the region, enabling the bank’s customers to earn rewarding benefits from the program’s online catalog by collecting points through banking transactions such as bill payments, government payments, personal loans, average account balances, and credit card usage both inside and outside the Kingdom.