Souqalmal.com, a website offering consumers an interactive portal to obtain detailed information on a range of banking products, was recently launched in Saudi Arabia. Souqalmal.com, the first independent financial comparison website in the country and the region, allows consumers to search and compare financial products offered by the country's banks and other financial institutions. Souqalmal – Arabic for money market - has already proven to be successful in the UAE and is now expanding regionally to Saudi Arabia and Kuwait in both Arabic and English languages. With over 1500 products including credit cards, personal loans, car loans, mortgages and bank accounts, the site provides a much-needed addition to the country's banking landscape and allows customers to do their homework using up-to-date, unbiased information. Site users can read about the experiences of other customers, rate the offered products and post their own product reviews too. The site's main aim is to promote transparency and help consumers understand the consequences of taking on credit through the use of calculators and other guides available on the site. It also empowers the common man to make informed decisions and simplify the otherwise tedious search process of the right product. Souqalmal.com, launched by Founder and co-founder Ambareen Musa and Paula Wehbeh, aims to be the region's leading information website for financial products. It is based on sites available in mature financial markets around the world, including UK, Australia and the US. “We founded Souqalmal.com to give consumers an easy way to search and compare products in markets on one independent website,” said Ambareen Musa, founder and CEO of Souqalmal.com. “With new products and offers at different times in the market, consumers find it very hard to find that one product that brings them the right benefits at the right cost” “In the end, we want it to be a site every consumer visits to do their homework on financial products and share their findings with others.” — SG
