Bank doing MLM

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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.


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Authored by kevinn on 3rd March 2010

One Response to “Bank doing MLM”

  1. hock Says:

       If you read the book entitled DARE TO FAIL, it states you must not be afraid to try again and again if you tried something and 'failed' BUT  it doesn't tell you to try again with someone NEW.  Someone who doesn't know that you have 'failed' before.
    I found out that 99% of the people who knows that you have 'failed' before will  not support you. That's whats happened to me.  Therefore if you want to succeed , you MUST see someone NEW . Someone who doesn't know your pass failures.
    What is your comment?  Have you experienced this before?   Please share. Thank you.

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