09 July 2007
In line with its strategy to offer innovative and best-in-class products, ABN AMRO, in association with MasterCard Worldwide, today launched the first credit card targeting the Non-Resident Indian (NRI) community in the UAE.
The card has been designed to enhance the lifestyle of expatriate Indians by providing a wide array of features specifically designed to offer recognition, value and convenience to this client segment.
Commenting on the launch of the card, Mr Jim Brown, ABN AMRO's Head of Consumer Client Segment in Asia said: "The introduction of this product is a result of extensive in-house research on the changing lifestyle and continued success of NRIs in the UAE. This strategic initiative is part of ABN AMRO's continuous pursuit to innovate and provide cutting-edge, differentiated, products, targeted at various segments of the market."
The credit card offers a wide array of features including; free monthly money-remittances and life insurance that offers protection for the cardholder's family along with a host of India-specific redeemable benefits, such as; free domestic flights on Kingfisher Airlines, rent-free mobile SIM cards and dining discounts at select premier outlets in India.
Colin Macdonald, ABN AMRO's Country Executive in the UAE added: "There are approximately 1.4 million NRIs in the UAE and they have a strong bond with India's culture, heritage and values. We have identified a niche segment and introduced a credit card, aesthetically designed and reminiscent of India. The card is the latest addition to our wide range of products and services and provides specific tangible, value-based benefits of interest to this client segment, both in the UAE as well as India."
Speaking at the launch, Denzil Lawson, General Manager, MasterCard Worldwide, ME&L, said: "MasterCard is pleased to have collaborated with ABN AMRO to launch this card that provides valuable services to the NRI community in the UAE. This collaboration with ABN AMRO is an example of how MasterCard works with customer banks to develop secure, convenient and rewarding payment solutions. At MasterCard, we are committed to the ongoing support and development of new products and services that meet the needs of consumers and their evolving lifestyles."
ABN AMRO made its foray into the credit card market in the UAE in 2000 and has since carved a niche in the industry as one of the top credit card issuers in the market.
- Ends -
ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 1,054.60 bln (as at 31 March 2007). It has more than 4,500 branches in 53 countries, and has a staff of more than 107,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.
ABN AMRO United Arab Emirates
ABN AMRO has been present in the United Arab Emirates since 1973, offering comprehensive financial services including: Consumer Banking, Business and Commercial Banking, Private Banking, and Corporate and Institutional Banking. With 1,500 staff, ABN AMRO operates in the United Arab Emirates with three branches in Dubai, Abu Dhabi and Sharjah, while also serving as the regional hub for the Middle East.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, go to www.mastercardworldwide.com.
For more information, please contact:
Pooja Rajani
Tel: +97 1 (0) 4 506 2636
In line with its strategy to offer innovative and best-in-class products, ABN AMRO, in association with MasterCard Worldwide, today launched the first credit card targeting the Non-Resident Indian (NRI) community in the UAE.
The card has been designed to enhance the lifestyle of expatriate Indians by providing a wide array of features specifically designed to offer recognition, value and convenience to this client segment.
Commenting on the launch of the card, Mr Jim Brown, ABN AMRO's Head of Consumer Client Segment in Asia said: "The introduction of this product is a result of extensive in-house research on the changing lifestyle and continued success of NRIs in the UAE. This strategic initiative is part of ABN AMRO's continuous pursuit to innovate and provide cutting-edge, differentiated, products, targeted at various segments of the market."
The credit card offers a wide array of features including; free monthly money-remittances and life insurance that offers protection for the cardholder's family along with a host of India-specific redeemable benefits, such as; free domestic flights on Kingfisher Airlines, rent-free mobile SIM cards and dining discounts at select premier outlets in India.
Colin Macdonald, ABN AMRO's Country Executive in the UAE added: "There are approximately 1.4 million NRIs in the UAE and they have a strong bond with India's culture, heritage and values. We have identified a niche segment and introduced a credit card, aesthetically designed and reminiscent of India. The card is the latest addition to our wide range of products and services and provides specific tangible, value-based benefits of interest to this client segment, both in the UAE as well as India."
Speaking at the launch, Denzil Lawson, General Manager, MasterCard Worldwide, ME&L, said: "MasterCard is pleased to have collaborated with ABN AMRO to launch this card that provides valuable services to the NRI community in the UAE. This collaboration with ABN AMRO is an example of how MasterCard works with customer banks to develop secure, convenient and rewarding payment solutions. At MasterCard, we are committed to the ongoing support and development of new products and services that meet the needs of consumers and their evolving lifestyles."
ABN AMRO made its foray into the credit card market in the UAE in 2000 and has since carved a niche in the industry as one of the top credit card issuers in the market.
- Ends -
ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 1,054.60 bln (as at 31 March 2007). It has more than 4,500 branches in 53 countries, and has a staff of more than 107,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.
ABN AMRO United Arab Emirates
ABN AMRO has been present in the United Arab Emirates since 1973, offering comprehensive financial services including: Consumer Banking, Business and Commercial Banking, Private Banking, and Corporate and Institutional Banking. With 1,500 staff, ABN AMRO operates in the United Arab Emirates with three branches in Dubai, Abu Dhabi and Sharjah, while also serving as the regional hub for the Middle East.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, go to www.mastercardworldwide.com.
For more information, please contact:
Pooja Rajani
Tel: +97 1 (0) 4 506 2636
© Press Release 2007
