alrajhi bank and Saudi Electricity Company Forge Strategic Partnership to Expand mokafaa Loyalty Program Benefits

Snapshot of the agreement signing

alrajhi bank has announced the signing of a strategic partnership agreement with Saudi Electricity Company (SEC), enabling customers of the bank’s mokafaa loyalty program to redeem their points via the SEC application to pay electricity bills and access other services.

This collaboration is part of alrajhi bank’s ongoing efforts to elevate customer experience by expanding the range of redemption options available within the mokafaa program. The agreement introduces public utility payments—through Saudi Electricity Company—as a new category, giving customers greater flexibility in how they use their loyalty points.

Commenting on the partnership, Abdullah Al-Jabr, Chief Marketing and Customer Experience Officer at alrajhi bank, said: “At alrajhi bank, we continuously seek to build partnerships with leading companies to enrich our customers’ experience. Our collaboration with Saudi Electricity Company, the largest public utility provider in the Middle East and North Africa, reflects this commitment.”

Al-Jabr added: “Our vision for the mokafaa loyalty program extends beyond traditional rewards. We aim to integrate it into our customers’ daily lives by constantly expanding the program’s offerings, making it a true value-added platform across the Kingdom.”

Abdulaziz Al-Muhaiza, Executive Vice President and Chief Financial Officer at Saudi Electricity Company, emphasized the company’s focus on enhancing customer convenience: “We are committed to introducing innovative solutions that simplify bill payments and enhance service accessibility. This partnership with alrajhi bank is a strategic step in that direction, allowing customers to use their mokafaa points to pay their electricity bills seamlessly through our app. We believe this initiative will boost customer satisfaction and broaden the range of payment choices available to our customers.”

The mokafaa loyalty program is the largest of its kind in the Saudi banking sector, serving over 16 million customers. It offers the highest total value of rewards and partners with more than 250 brands across the Kingdom. Customers can use their points as a payment method at participating merchants by providing their registered mobile number or via the program’s website and partner applications. The program is continuously evolving to enhance convenience and deliver a seamless redemption experience.