Abal Banking brand focus will be on being “capable, responsable and reliable”: Rizk

“For us, our reputation is paramount.” Arab Bank Australia CEO Joe Rizk

(Translation appears in Arabic section)

Sydney - M E Times nt'l: On Thursday, July 11, Arab Bank Australia invited members of the Australian Arabic Press to join their CEO and Managing Director Joseph Rizk, OAM, Executive Manager Banking Emile Chahine and Senior Manager, Sales, Service and Marketing Raghida Younes, for an update on the Bank and its activity and initiatives. At the meeting the bank announced the launch of a new initiative, ABAL Banking. Abal Banking is an acronym of the bank’s full trading name Arab Bank Australia Limited, and is essentially a play on the word ‘able’Arab Bank Plc is one of the largest banks in the Middle East, named Best Bank in the Middle East by Global Finance Magazine for a fourth consecutive year. Their liquidity and capital base is very strong and classed that way by the industry and globally.

FOR 33 years, Arab Bank Australia has operated; we were one of the first foreign banks to come to Australia when they gave out licences in the early 1980’s. As these banks closed and went home, Arab Bank stayed. It stayed because it had a long term commitment. The bank looks at Australia as a long term investment.  

Nasr, Nijeim, Younis and Chahine

Now, when you look at a bank like Arab Bank in Australia, the name is very well regarded and very well respected.  We have never had any problems; of our client base, the majority of depositors (80% to 85%) are non-Arabic. They trust us so they come to us; they put their money with us sometimes because our rates are a little bit better but they never leave the Arab Bank, they stay because of our reputation and  because of our people and the service our people provide.  We all know what has happened with banking, the Royal Commission, regulators, the pressures by the government on the banking sector.

“It is no secret that the Royal Commission has created quite an evident amount of distrust and concern amongst customers of the major banks, and this is unfortunate. Although, we are pleased that we were in no way impacted by the revelations of the commission, and what this means is that our people are doing things the right way… Which of course, is reassuring for our customers at a time like this.” says Mr Rizk.

We have always given our clients simple products and have been a very highly regarded, respected bank. To us that is so critical; we don’t want to in any way upset our clients or our business base. It worked out very, very well for us. The reputation of our people provides an excellent service. For us, our reputation is paramount.

Rizk with members of the Arabic media and officers from ABAL 

We have always said as a bank we’re able to do things.  We are proud of the name Arab Bank but we also want people to think of us as being able to do something.  “ABAL” to help, “ABAL” to do things, so that’s where ABAL has come into the equation.  So we’re introducing ABAL, an abbreviation for Arab Bank Australia Limited.

All of our people are well focused on being able to service clients, so we find the name only fitting for the approach we take with our customers.

Who is your bank manager?  Who do you talk to? How many changes has there been and do you have a number for your bank manager? Every one of our clients has a relationship manager or an office supervisor that looks after them. Here, with the Arab Bank, you ring and you’ll talk to somebody who you know.

"I know how banking once was and I know of the problems they have at the moment with that personal touch. The personal touch in any business is the critical piece, the most important thing is the people. If people do the right thing and look after the client base it is very, very positive." 

Rizk (L) with Shalala

"I’m with another bank as well as the Arab Bank but they keep changing; I don’t know who I’m talking to. That service, that personal touch, is very, very important. That’s what we really focus on as a bank". 

The Bank introduces their acronym abal banking, accompanied by the tagline, “responsabal”, “capabal” and “reliabal.” Each word represents the notion of being able in particular areas, responsible lending, capable expertise and experience, and reliable support of the community through medical research, education, the arts, sports and local community initiatives. “These are values adopted from our parent, Arab Bank Plc, and their activity over their 85 years in banking and carried on by our people at ABAL for the benefit of our customers”.