Offers 50% more than other leading cards
Dubai, November 11, 2003: In a move that strengthens its standing as the most innovative credit card issuer in the market, Dubai Bank today launched its credit card rewards programme which brings new benefits to customers every time they use their credit card. For every dirham spent, a ‘DubaiDinar’ is credited to the card member’s account that can be exchanged at a variety of outlets for items featured in a comprehensive rewards catalogue.
The rewards programme will add significant value to the bank’s card members and with more than 20,000 Visa cards already issued throughout the UAE, Dubai Bank has become one of the fastest issuers of Visa cards in the market. To mark this achievement, Dubai Bank is offering three Dubai Dinars for every two dirhams spent for the next 12 months. This provides fifty per cent more than other rewards schemes currently available in the market, which makes it the best rewards programme today.
Commenting on the impact of the Dubai Bank Visa Credit Card, Mr. Ahmed Binbrek, Chief Executive Officer, Dubai Bank, said: “The bank has just celebrated its first anniversary last month and in this time it has achieved many firsts and crossed numerous milestones. The Dubai Bank credit card which was launched last December, is yet another great success story which has enabled us to advance forward in this competitive environment.”
“Our success can be attributed to the value that customers get from our products and services. After all, our vision is to be a premium full services provider of financial products, innovatively constructed and differentiated in our delivery for superior levels of service to our customers,” Binbrek continued.
Ricky Madan, Vice President, Dubai Bank, said: “The rewards programme provides even more value for our Visa credit card members and we are delighted to be giving customers 50% more Dubai Dinars for their spend. This special promotion ensures that customers will get more rewards at a faster rate. Dubai Bank has joined forces with leading retailers so that card members may redeem their Dubai Dinars from a long list of merchants and over 100 world-class brands.”
“The Dubai Bank Credit Card rewards programme offers a great variety of unique options for redemptions like Dubai Duty Free vouchers, donations to Rashid Paediatric Society and a Travel Assist option whereby card members can redeem their Dubai Dinars for vouchers which can be exchanged for travel to any destination on any airline,” Madan continued.
Outlining future plans for the Visa Credit Card, Madan said the rewards programme would help drive customer acquisition and retain existing card members. The bank will continue to explore other products and services to attach to the credit card and ensure it continues to deliver, fast and flexible financial solutions for its customers.
20,000 Credit Cards issued in less than one year – Visa acknowledges performance
Since its launch, the Dubai Bank Visa credit card has established itself in a highly competitive market and has been well received by customers who are becoming more selective about the products they choose to use. With unique features such as free life and household insurance, 365-day purchase protection, extensive travel benefits, loan over the phone facilities and a free e-Gate card, the response has been excellent. The card’s impact has been lauded by Visa International, which presented a commemorative plaque to mark the occasion.
Commenting on the achievement, Mr Kamran Siddiqi, General Manager and Senior Vice President Middle East, Visa International, said: ”To issue more than 20,000 cards in just under a year is a remarkable achievement. I highly commend Dubai Bank for their hard work over the past 12 months and for the role they have played in bringing the convenience and security of Visa payments to UAE cardholders.”
-Ends-
Notes to Editors:About Dubai Bank
Dubai Bank is a fully owned subsidiary of real estate major EMAAR Properties. Since its launch in September 2002, the bank focus on retail and commercial banking, has been in total conformity with EMAAR’s diversification strategy, which aims at optimising the investment of group resources, while actively diversifying the sources of its revenues.
Dubai Bank has already distinguished itself with its fresh approach to banking and unparalleled range of banking products and services. Technology is a strong enabler, as is adherence to international best practices that exemplifies Dubai Bank as a world-class institution synonymous with modernity, excellence, and innovation.
About Visa
Visa is the world’s leading payment brand generating US$2.7 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organisation plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce-the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com
For further information, please contact:
Suzanne Samaan/Stefan Batory
ASDA’A Public Relations
Burson-Marsteller exclusive Middle East affiliate
Tel: 971-4-3344550,
Fax: 971-4-3344556,
E-mail: info@asdaa.com
© Press Release 2003
