Smart Card & Payments Awards, Middle East 2015

  • Best Premium Card Solitaire Credit Card
  • Best Credit Card Mashreq sMiles 
  • Best Debit Card - Mashreq Private Banking VISA Infinite

Dubai, UAE; 17th 2015

Mashreq, one of the leading financial institutions in the UAE, has reconfirmed its leading position in the cards and payment industry by winning three leading categories in the banking industrys premier payment awards The only bank in the Middle East to achieve this accolade. This wins highlight the strength of Mashreqs suite of award-winning cards, each of which is specifically aimed at the ever evolving needs and interests of its discerning customers.

The three wins also cement Mashreqs reputation as a pioneer in the cards and payments space. The titles won at the Smart Cards & Payments Awards, Middle East 2015, are: Best Premium Card - Solitaire Credit Card, Best Credit Card - Mashreq sMiles and Best Debit Card - Mashreq Private Banking VISA Infinite. These wins carry on a long tradition of Mashreq being recognized as a leader in the cards and payments space in the Middle East. In 2013 Mashreq won also Best Debit Card and Best Credit Card, and in 2014 the bank won Best Debit Card and Best Mobile Payment Innovation for Payport.

Farhad Irani, Head of Retail Banking Group, Mashreq commented: Mashreq continues setting the cards and payments standards in the Middle East. We enjoy going one step beyond what other banks are providing. Winning awards such as these, in which we are pitted against our contemporaries from right across the Middle East, including Turkey, Qatar, Kuwait and Lebanon, provides valuable third-party endorsement that underlines we are the industry leaders.

Nimish  Dwivedi , Head of Payments, Mashreq said, Not only are our cards aimed at making the physical act of payment as easy as possible, they provide exciting and pre-defined rewards for doing so. For instance, our sMiles card the UAEs first Anywhere, Anytime, Any Airline miles card is aimed at the Middle Easts globetrotters and provides assured air miles on a free for life platform, for every AED spent locally and internationally. Likewise, our Solitaire card which is the UAEs first vertical card with a certified embedded diamond embodies Essential Luxury. The card provides unmatched premium golf offers and never-before redemption experiences on the Salaam Carats rewards platforms across eighty luxury brands including Carolina Herrera, Tory Burch, Mikimoto, Cole Haan, Lacoste, Marc Jacobs, Mulberry, Loewe, Baccarat, Furla  and many more.

Dwivedi added, Those who hold our Private Banking Visa Infinite debit card can enjoy unlimited cash withdrawals at ATMs globally absolutely free and also enjoy unmatched benefits from the industry leading rewards platform Mashreq Salaam.  Whats more, for the first time, Infinite debit cardholders can also extend the debit card benefit to their family members anywhere in the world, without the need of a joint account. This allows family members to withdraw cash and transact securely at any ATM or merchant worldwide and does away with the need for transferring money.

The Smart Card & Payments Awards are part of Cards and Payments Middle East, the regions premium event for payment cards and ID, which took place recently in Dubai.

-Ends-

About Mashreq
Since its inception in 1967, Mashreq has differentiated itself through innovative financial solutions. As the oldest bank in the UAE, Mashreq has more firsts than any other bank and a proven track record in innovation. With an extensive branch network across the UAE, Mashreq is also present in Qatar, Bahrain, Kuwait and Egypt and 26 overseas offices in 12 countries spread across Europe, USA, Asia and Africa providing a comprehensive range of international financial services. Locally and regionally, Mashreq has established itself as a market leader by delivering award-winning customer experiences and innovative thinking across its financial products and services. Key recent initiatives include the UAEs first TapnGo contactless technology, Cardless Cash, Snapp Mobile Banking, Selfie credit card, and eforms amongst others. The banks Islamic Window Mashreq Al Islamic takes a highly technological approach to banking, allowing customers to experience Shariah Compliant financial banking solutions online.

In 2014, the bank celebrated a historic year as it posted 33% in Net Profit and won more than 45 local, regional and international awards, including Best Local Bank in the UAE, Best Local and Regional Retail Bank, Best Islamic Window, Best Corporate, Best Consumer Internet Bank Qatar, SME Bank of the Year, Super Brands, Best Regional Investment Bank and Best UAE Loan House from prominent awards organizers.

Each banking division offers its own unique specialisms and expertise to set industry standards, whilst working collaboratively to achieve excellence for all Mashreq customers and partners.   

-       Corporate Banking Groups mission is to drive relationship banking through customer centricity, ensuring that it is the primary bank of corporate clients, and the efforts continued in the quarter. Corporate Banking Group delivered world class Investment Banking Services to the clients, especially in the fields of Corporate Finance, Real Estate, Investment Services, Cash & Trade Management Solutions. Recently the business group booked two key transactions for TECOM INVESTMENTS LLC and Port & Freezone World FZE (PFZW) and closed a 4-month Short term Bridge facility for USD 86 MM for Abraaj Holdings.

-       Retail Banking Group has been at the forefront of innovation with various financial solutions such as Instant Banking, the first ATM Card, Travelers cheque amongst others.  The retail business focuses on leading the UAE banking industry through world class service and comprehensive financial products for Personal Banking, Islamic Banking, Private Banking, Business Banking, Affluent Banking, and Payments. It continues to launch groundbreaking contactless technologies and launching the regions first fully automated branch initiative imashreq.

-       International Banking Groups network of Branches and Rep Offices spans twelve countries across US, Europe, Asia and the Far East. The bank leverages this footprint by supporting franchise client needs internationally and international client needs in our franchise. International Banking Group (IBG) provides commercial banking services to customers outside the UAE. The Financial Institutions Division, which is a part of IBG, provides full range of correspondent banking services including payments, trade finance and capital markets products to financial institutions in select markets.

-       Treasury And Capital Markets Group is a leading provider of value added and innovative treasury services and products.  Operating round the clock our experienced dealers provide continuous coverage of global markets to clients.  The traditional areas of foreign exchange, interest rates, fixed income, commodities, global futures, UAE (local) and international equities, are supplemented by customized structured multi-currency hedging, yield enhancing strategies, equity derivatives and specialized asset management services.

As a leading financial institution, Mashreq is committed to supporting every community it serves. In the UAE, the bank pays particular attention to recruiting, training, and developing UAE National employees. Mashreq is the only financial institution to receive the Gallup Great Workplace Award for two consecutive years in 2014 and 2015 and is a four times receiver of the CSR Label by Dubai Chamber of Commerce and Industry in recognition of its global standards in social responsibility.

For media enquiries, please contact:
Huda Ismail
Public Relations, Mashreq
Tel: 04 -6083629
Email: HudaI@mashreq.com

Nssrin Khalil
Public Relations, Mashreq
Tel: 04 - 6083836
Email: NssrinK@mashreq.com

For investor relations enquiries, please contact:
Sandhya Balkrishnan
Investor Relations, Mashreq
Tel: 04 -2077543
Email: SandhyaB@mashreqbank.com

Press Release 2015