The Saudi Investment Bank (SAIB) has launched WOOW, a reward programme for its customers.

The bank teamed up with Ketchup Loyalty Marketing to develop the programme, said a statement.

Based on the customer's day-to-day banking transactions, the rewarding structure allows a full range of eligible transactions with which customers can earn points.

The programme will enable customers to redeem rewards with an online catalogue which includes a variety of electronics, home appliances, latest fashion, gift vouchers from globally famous retailers as well as hotel stays and plane tickets.

The membership will be complimentary for the bank’s customers and guests can enroll through the bank's internet banking  platform, by calling toll free call centre or visiting any SAIB branch.

Musaed Al-Mineefi, CEO, indicated that the WOOW programme is considered to be a part of the core strategy for retail banking to serve the Saudi market needs.

The customers can earn points not only through credit card usage, but also through other transactions such as opening an account, getting a loan, keeping certain amount of money in the account as well as using SAIB's e-channels, namely Flexx e-channels. - TradeArabia News Service