Dubai, United Arab Emirates: Forbes Middle East announced today its first personal Credit Card ranking for the best 73 credit cards within the MENA region. The ranking is split into three different categories Platinum Credit Cards, Gold Credit Cards and Classic Credit Cards. "Al Rajhi Bank" from Saudi Arabia was ranked first in the Platinum and Gold category and "Kuwait National Bank" was ranked first for Classic Credit Cards. The ranking was compiled to guide and help consumers within the region to know the real cost of using credit cards.
Khuloud Al Omian, Editor-In-Chief, Forbes Middle East said "The world is fast becoming a cashless economy, yet credit cards are still relatively new to this region compared to Europe and America. We have assembled this ranking to try and explain to our readers the real cost involved when using credit cards."
She continued to add "Through our research on this ranking we discovered that there is very little information with regards to personal finance and managing debt, banks do not provide a financial consultant free of charge to help people with regards to their finances and I would strongly urge all banks within the Arab world to do so as quickly as possible."
The research team at Forbes Middle East compared the terms and conditions from the 73 credit cards issued by 25 different banks who are considered the largest issuers of credit cards within the region. The research strategy used whilst compiling this ranking was based on a number of different criteria such as card fees, interest rates for retail transactions, minimum payments, late fees and cancellation fees. The ranking was set over three different categories of credit cards Platinum, Gold and classic form Visa, MasterCard and American Express.
Forbes has a long history of covering personal finance and helping readers figure out the true costs and advantages of financial products, such as mutual funds, mortgages or credit cards. Forbes compiled its first personal finance, mutual fund ranking back in 1956.
The February issue of Forbes Middle East has important stories concerning credit cards, how to manage them, and how to make use of their rewards. There are also interviews with VISA's GM Kamran Siddiqi and Master Card's GM Raghu Malhotra, and special interviews with the banks prominent in issuing credit cards.
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A Brief about "Forbes Middle East"
It is a magazine that has purchased the copy rights and distributions rights from the famous US magazine, Forbes, and it covers all the stories related to the finance and business world, as well as being concerned with looking for new investment opportunities in the Arab region. Forbes Middle East is keen on putting together its lists based on the criterion of neutrality, authenticity, commitment to the methodology of scientific research, and the quality of standards set globally by Forbes through its extensive experience in this field.
Forbes Middle East also serves as a guide for businessmen and decision makers by providing them with information and statistics necessary for making the right decisions. Thus, the magazine becomes the guiding compass for investments in the region. Through its wide network of press correspondents the magazine also works toward covering all the economic fields and issues concerning the Arab region.
To contact Forbes - Middle East for press or media information please contact:
Tarteeb Media Company
Neila Srioui
Mobile: +971-50-5540580
Email: neila@tarteeb.com
© Press Release 2011
