Job Discussion Forums

revilo · Joined: 05 Oct 2013 Posts: 181 Location: Mos Eisley

Just to make it official, I'd like to say that the bloom is off the rose in sunny KSA. Oil went to $40 per barrel.

This resulted in the domino effect where credit dried up in the kingdom and expats were the first to feel the pinch.
I thought I could depend on Saudi Investment Bank, but I was wrong. First they asked me for an application, salary certificate and copy of iqama. I turned in all the docs.
Then, they lost my iqama copy and asked me to bring in another one, which I did.
Then they noticed I didn't have income for July & August (you would think they would notice that I work for an education company that doesn't pay employees in the summer). They asked me for a leetter explaining why I didn't have income in those months. I turned that in.
They took their time and finally turned me down for a credit card. I'd just like to let you know that Saudi Investment Bank is not interested in giving credit cards to expats. Taking their deposits is another matter, but they will make you jump thru hoops before turning you down.

Twisted Evil

scot47 · Joined: 10 Jan 2003 Posts: 15343

Most teachers get paid in the summer vacation. I would be wary of an employer that make no salary payment in the summer. Who are you working for ?

revilo · Joined: 05 Oct 2013 Posts: 181 Location: Mos Eisley

a quck look at what other Saudi banks offer:

Riyad Bank offers credit cards with 750 SAR annual fee

PLUS 23.4% APR

this is a deal you can turn down.

[PM sent to scot47]

Gulezar · Joined: 19 Jun 2007 Posts: 483

I-forgot · Joined: 28 Jun 2015 Posts: 153 Location: Riyadh

bigdurian · Posted: Fri Oct 14, 2016 9:27 am Post subject:

On my second credit card here. Had no problems getting either one. As long as you pay the balance in full each month it's fine.

Very handy for buying plane tickets, hotel rooms etc. Plus, with my current card I gain access to many lounges at airports all over the world. That four hour layover in Doha just got a whole lot more bearable and alcoholic.

revilo · Joined: 05 Oct 2013 Posts: 181 Location: Mos Eisley

SIB left messages on my phone and I tried to return the call (by pressing "2" for English). Unfortunately, their phone system doesn't recognize taps from a Huawei cell phone and I had to listen to more instructions in Arabic. I will just assume that they turned me down for a credit card.

In many ways, this is one of the circles of hell where you try to accomplish something which is all for naught. So, I went online and got a credit card from my own credit union. The downside is that I have to go back to the states to pick it uup.

cnthaiksarok · Posted: Sat Oct 15, 2016 12:54 pm Post subject:

Kind of a silly thread title, imo.

I understand it's the OP's situation, but it's hardly expat or Kingdom-wide.

WISHING the Saudi banks would stop pestering me by SMS and email to take one their ridiculous credit cards...

They've also got this memorized pitch every time I stop by ANB to handle something.

"No thanks, just need to take care of this issue, have a nice day."

I'll stick w/ my Chase Sapphire, thank you very much. Very Happy

plumpy nut · Joined: 12 Mar 2011 Posts: 1652

You have to pay back your Saudi credit card before an exit visa. Who would want to use credit from Saudi Arabia while in Saudi Arabia? All those nice items bought on credit become a real problem if your company suddenly gets it in their minds that your "credentials" don't quite meet their standards. Laughing

scot47 · Joined: 10 Jan 2003 Posts: 15343

ANB hit me with a problem when I was leaving on "final exit" from the Airline. The small print on my credit card agreement said I had to give 90 days notice if going on final exit. I had a nil balance on my credit card but they INSISTED that I leave on deposit the total that the card was good for. Airlines required approval from the bank before agreeing to finalise my papers. It was VERY difficult to get that SAR23,0000 returned after I had left. I had to send "the boys" along to make noises !

My "final exit" turned out not to ne final. I went back and did another 8 years with a better employer !

My advice - get a credit card from an out-of-kingdom provider. Otherwise you are putting your head in a noose.

nomad soul · Joined: 31 Jan 2010 Posts: 11454 Location: The real world

bigdurian · Posted: Sun Oct 16, 2016 4:41 am Post subject:

I only use it for flights and hotels, as it is difficult to buy them without a credit card.

As for final exit, when I did this last year, before I left I went into SABB to try to close everything down. They said don't worry about it, when you come back you can unfreeze the cards.

So I can only presume that if the balance is nil, the card gets cancelled automatically. Interestingly enough, on return I went back to SABB to try to open up the account again, but they said I'd have to start again, even though I hadn't officially closed the account down

Leno · Joined: 20 Dec 2015 Posts: 51

One Arabic expat shared his experience.
He was detained at the police station (according to him), (he didnt share the reason but no court trial, no charges), and then, was taken to the airport while his exit visa waiting for him there.
He said that he also owned a car, but if he had any traffic fine or, who sold his car or etc, I received no info.
But, having bank loans of 150,000 Riyals (according to him), he was detained and he didnt tell me exactly, but he said " alhmdolilah, its a long story, someone kindly sorted out the loan while I was in custody", and he was allowed to fly out.
He was in no position to pay back the bank loan at one go, but the immigration or police cant detain him for not paying, as how he could have income in custody, even for 10 years.
He being a Muslim/Arab (someone helped him pay the loan, or the bank forgave him or), and he having a wife and a new born baby helped or not, I have no idea.

Before leaving on exit visa,
1. it would be wise to close the bank account, and request a clearnace letter from the bank ( it takes 1-2 weeks to issue).
2. make sure to pay traffic fine

Since 2-3 years ago, some banks did not aprove credit card or loans to expats (west, east) any more, depending on the reputation of the sponsor, or sometimes, the sponsor requests the bank not to offer a loan or a credit card to his foreign employees.

The reason could be to issue exit for the expats anytime without any problems at the airport??
Exit visa is valid for 2 months, but majority of Saudi employers want you to exit in 3 days after they pay yr final dues. And it is impossible to exit in 3 days, as closing the bank account, takes 1-2 weeks, after the deposit of final salary.
Once the exit is issued, the ralationship ends between a Saudi employer and a foreign employee, and any criminal act or loan after issuance of exit visa will have no effect on the employer.
By law, the sponsor is responsible for any loans or due payment of the expats ( before the exit was issued), after the expat employees left the country on exit visa, but .....