College of Business invited Mr. Fahad Alguthami to be part of CoB’s Executive Lecture Series. Mr. Fahad is the CEO of American Express Saudi Arabia.
The lecture titled “Financial Literacy” was presented to the audience and College of Business students. It took place on Wednesday, January 14th, 2024, in the Lecture Theatre (F) from 12:00 to 12:50 PM.
Mr. Fahad commenced the lecture by playing a video showing that credit cards have revolutionized lifestyles and enabled users to have a new experience. An essential aspect highlighted was the connected network that drives the credit card industry’s success. This network links financial institutions, merchants, and consumers to facilitate smooth transactions which contribute to the industry’s overall growth and improve the lifestyle of the consumer.
He also explained how credit card companies can use consumer transactions to build a database to understand consumer behavior, what they buy and on which segment.
Lastly, Mr. Fahad described how credit cards companies make money:
- Membership fees, which include many benefits for the members.
- Interchange fees, which are paid by merchants for each transaction.
- Interest will be charged if users carry a balance after the payment due date.
The lecture is part of College of Business Executive Lecture Series. It provides Alfaisal University students and guests from the business community the opportunity to learn from some of the country’s leading executives and leaders as they talk about their experiences. College of Business sponsors the weekly Executive Lecture Series to bridge the gap between the world of leadership and business education.
