Customers can hold and transact in six major international currencies. This initiative marks a significant step in the bank’s commitment to digital convenience, customer-centricity, and innovation in Shariah-compliant banking. General Manager for Information Technology at Al Baraka Bank, Sumeshion Chetty says the account allows consumers to buy currently at their leisure.
“We have currently launched this product currencies in total, three of the majors: the United States Dollar, Euro and the Pound. We have looked at the market and a few currencies that sort of make sense to our market as such.
The Saudi rial as the Islamist bank in the country and a trip to Saudi Arabia as something that most muslims in South African will do at some stage in their life and this was to make the process a lot easier,” Chetty said.
–ChannelAfrica–
