Manama, 2nd August 2006; Shamil Bank's Al-Rubban Islamic credit card is one of the main sponsors of the three and a half month long Summer Promotion which kicked-off last week at Bahrain's most popular shopping centre, Seef Mall. The promotion entitled "Don't Let These Prizes Sail By This Summer" will run through the summer months well into the festive season of Ramadan and Eid al-Fitr and will also witness the much awaited inauguration of the Seef Mall extension which is nearing completion. The sponsorship agreement was recently signed between Shamil Bank and Seef Properties managements. The two organizations were represented by Mr. Tariq Bahar, Head, Retail Banking, Shamil Bank and Mr. Khalid Abdulaziz Fadhul, Leasing and Merchandising Manager, Seef Properties, respectively.

The Al-Rubban promotion is part of a re-launch campaign which positions the product as the lowest priced credit card available in the market today with a one off 'fee on guarantee' of 6.5% which works out to be less than 0.6% per month. "The lowest ever price is an unbeatable feature of our unique Sharia'a compliant credit card" Mr. Tariq Bahar Head of Retail Banking, Shamil Bank said. "There is a host of other benefits offered to the cardholders including global acceptance, insurance benefits, no extra charges on outstanding balance and on top of all convenient repayment in equal instalments over 12 months" Mr. Bahar added.

Continuing on the subject, Mr. Bahar said that "According to the Bank's strategy, its retail products and services are increasingly accessible and affordable to all members of society. For example, Al Rubban credit card is available to all and is not restricted to only Shamil Bank accountholders. There is no requirement for salary transfer to Shamil Bank in order to obtain the card."

"After analysing the market back in year 2002 we felt that there was a definite need for a Sharia'a compliant credit card with a global reach. We were right as Al-Rubban credit card fulfilled this market gap and offered to the customers exceptional benefits that are unmatched in the region to date. The partnership with the global brand MasterCard provides Al Rubban a worldwide acceptance at more than 20 million establishments and 650,000 ATMs." said Ali Salem, Manager Distribution Channels Support & Card Operations, Shamil Bank.

In accordance with the Islamic Sharia'a, Al-Rubban credit cardholders do not have to pay interest on their spend; a one-off low level fee per month is charged instead. In a bid to make the repayment process as transparent and hassle-free as possible Shamil Bank has devised a convenient twelve month repayment schedule based on the credit card spend. It saves the customers from enduring surprises such as rising interest rate or other hidden charges.

Seef Mall's "Don't Let These Prizes Sail By This Summer" promotion will offer visitors amazing rewards, making their shopping a more enjoyable experience throughout the summer and the festive season" commented Mr. Khalid Abdulaziz Fadhul, Leasing and Merchandising Manager, Seef Properties.

For every BD20 spent at any Seef Mall outlet, customers are entitled to one raffle ticket and an entry into the grand prize draw. Al Rubban and ShamilCard shoppers are entitled to 2 raffle tickets for the same amount. To obtain the raffle tickets, Al Rubban and Shamil Cardholders should proceed to the Al Rubban Customer Service Desk set up at Gate # 4 where they will be assisted by Al Rubban representatives.

"The promotion promises its participants amazing prizes including brand new Porche Cayanne, Mercedez E280 Elegant and Dodge Charger, diamond sets, holiday packages to Thailand and Malaysia, Seef Mall gift vouchers and prizes from a number of shops at the Mall and much more." Mr. Fadhul added.

Shamil Bank's Al Rubban credit card is available in both Gold Card and Classic types. For more information on how to apply for a credit card today, customers may visit the Al Rubban Customer Service Desk at Gate # 4, Seef Mall or call the call centre on 17878777.

-Ends-

Note to the Editor:
Shamil Bank: 
Shamil Bank is incorporated in the Kingdom of Bahrain and has grown steadily since 1982 to become a leading Islamic fainacial institution with a shareholding equity of US$331 million as at 30 June 2006.

The Bank provides a diverse range of products and services that cater to the financing and investment needs of individuals and instuitutions. It conducts its business in compliance with the principles of the Islamic Sharia'a.

The Bank operates a network of local branches and maintains a presence in overseas markets through subsidiary, associated and affiliated companies. The Bank's shares are listed on the Bahrain Stock Exchange.

Seef Mall:
Seef Mall, the most visited shopping and leisure destination in Bahrain, covers over 100,000m. The mall currently offers customers a selection of 220 retail shops of various international brands, a sixteen screen multiplex cinema and more than 40 restaurants and coffee shops, which combined, offer seating for approximately over 2,000 people. For shopper's convenience, the mall provides a 650-vehicle multi storey covered car park with air-conditioned entrances leading to all the mall's main shopping floors, with a further 2,250 car parking spaces surrounding the mall.

For more information, please contact:
Sharaf Khawaja
Marketing Manager
Shamil Bank
3rd Floor,
Seef Tower
Al-Seef District
P.O. Box 3005
Manama, Bahrain
Tel: +973 -17 585082
Fax: +973 -17 585140
Mob: +973 - 367 42723

© Press Release 2006