Banks enter the race for Ramadan offers with gold and cashback

Banks are witnessing an exceptional season of marketing competition, with the advent of the holy month of Ramadan, where banking offers become part of the daily scene, and advertising messages targeting a wide segment of consumers escalate. During this month, banks are not satisfied with providing traditional financial services, but rather seek to reformulate their relationship with customers, through carefully designed promotional packages that contribute to enhancing their loyalty, and not to increasing the volume of lending or the number of cards issued. Al Khaleej monitored the features of Ramadan offers this year, which reveal a remarkable shift in the philosophy of banking marketing, as the offers no longer focus solely on interest rates or repayment duration, but are now based on the concept of “added value.”