Up to 2500 dirhams if 10 customers are persuaded to obtain a credit card

Banks reward their customers financially in return for attracting “new customers”

Ahmed Ibrahim: “Banks sometimes resort to a third party, such as companies, to market their products in return for a commission, and the same is true for dealers.”

Banks in the country have started offering promotional offers to customers who have bank accounts, credit cards, or personal loans, with the aim of attracting new customers from their friends or relatives.

"cash back"

According to messages received by dealers, the bank rewards the customer with an amount of 250 dirhams, in the form of cash back (cash back) for each new customer who convinces him to obtain a credit card, as the bank deposits the amount in the customer’s credit card account as soon as it is signed, by each friend or relative For him, on the credit card request, while the amount can reach 2,500 dirhams, if the customer succeeds in convincing 10 new customers to sign.

According to messages from other banks, the customer who attracts a friend or relative to open an account, or to obtain a personal loan, gets a reward of 500 dirhams that is deposited in his account directly, and other banks resorted to rewarding the customer who transfers his salary, or transfers his debt in the amount of 4000 dirhams. .

Product Marketing

Banking expert, Ahmed Ibrahim, said that banks use various means to market their products and attract new customers, including encouraging current customers to convince their friends, or recommending obtaining a credit card, opening an account, or transferring a debt to the bank.

He added: "There are no obstacles or controls on the part of the Central Bank in this, as the bank does not communicate or send messages to individuals who do not deal with it, in contravention of the (Central) instructions not to contact the dealers by telephone to market the banks' products."

Ibrahim pointed out that banks sometimes resort to a third party to market their products, such as companies or agents, in return for a "commission" to be agreed upon, and the same is true for customers who receive commission or rewards in exchange for attracting new customers.

Ibrahim stressed that the banks are actually committed to paying these bonuses, because the customer with them is much more important than the value of the amounts they pay in promoting or marketing their new products, pointing out that the new customer himself is sometimes rewarded if he transfers his salary or opens a new bank account.

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