A couple of years back, Al-Rajhi Bank introduced its (AFF) Al-Rajhi Friends and Family program with this diagram at the back of their product brochure. A Bank doing MLM. I was surprised to know about it from my dad.
The products are Car Financing, Housing Financing and Personal Financing.
All you do is to open a Saving account or a Current account to participate in this AFF program, with only RM100.00 deposit. The bank will give you some sort of a "Starter Kit" and deduct RM50.00 of your RM100.00. It is not necessary to be a borrower or to take up a loan with the Bank, to be able to earn bonus/income.
How are we, as the Bank customer, who introduces customers to the Bank being paid?
Payment will be made to customers / introducers, provided the borrower made their monthly instalment.
Authored by Kevinn Tan on 3rd March 2010
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