More secure, more convenient and globally accepted at over 25 million locations

5 January 2008, Abu Dhabi, U.A.E.: First Gulf Bank (FGB), one of the UAE's leading financial institutions based in Abu Dhabi, in association with MasterCard Worldwide has launched its Chip Debit MasterCard, which provides cardholders with convenience and heightened security. The new card is compliant with EMV (Europay, MasterCard, Visa) - the global standard for chip based card payments.

"Once again, with the launch of this more secure card, we are delivering continuous service distinction to all our customers, ensuring their banking experience is safer, utilising the very latest in technology solutions to enhance our product offerings," said Amit Wanchoo, Head of Retail Banking Group, First Gulf Bank.

"The new FGB Chip Debit MasterCard is secured by state-of-the-art chip technology that reduces the risk of fraud, thanks to its embedded microprocessor, to provide highly secure memory and processing capabilities for increased security in usage, added Wanchoo.

FGB's new Chip Debit MasterCard replaces the bank's existing ATM cards and is offered free-of-charge to all its customers.

"Globally accepted at over 25 million locations, FGB's new Chip Debit MasterCard will make shopping more convenient. In addition, customers can use the card to withdraw money at over a million ATMs around the world anytime, making it the perfect travel companion." concluded Wanchoo.

Eyad Al Kourdi, Country Manager, UAE, MasterCard Worldwide, said, "MasterCard is pleased to have cooperated with FGB to develop the FGB Chip Debit MasterCard, offering cardholders the ease and convenience of chip-enabled debit MasterCard,".

"MasterCard has rolled out more than 295 million MasterCard branded EMV chip enabled cards globally to make the payments process easier, faster, more secure, and more valuable to everyone involved. MasterCard's knowledge and expertise in advanced payment solutions around the world has facilitated the development of this payment card. MasterCard will continue to work with FGB to develop innovative and flexible payment solutions programs that provide smarter methods of payment for an increasing array of transactions." Al Kourdi added.

Applications for FGB's new Chip Debit MasterCard can be made at any of its branches across the UAE or by calling 600525500. Customers can also log on to www.fgb.ae for more information.

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About First Gulf Bank:
First Gulf Bank (FGB) is one of the largest equity based banks in the UAE with shareholders equity at around Dhs9.5 billion at 30.09.2007. Headquartered in Abu Dhabi, the capital of the United Arab Emirates, FGB was established in 1979. The bank provides financial services across the UAE with a wide distribution network of branches in different business and industrial areas. FGB offers a variety of financial services in Corporate Banking, Treasury and Investment, and Retail Banking Services. It focuses on providing financial services and solutions to different target groups in the market, including private and public institutions and retail customers. 

For further information please contact:
Maha Yassine,
Head of Corporate Communications,
First Gulf Bank
Tel: 00971 2 6920101
Email: maha.yassine@fgb.ae

© Press Release 2008