American Express Cards to be distributed through Gulf Bank's 37-branch network in Kuwait
Partnership reinforces growth of American Express Card franchise network in the Middle East
Kuwait - Gulf Bank is to offer co-branded American Express Cards in Kuwait under a new partnership agreement with American Express. The partnership is an important part of the strategy to expand the American Express Card franchise network in the Middle East.
Senior executives of Gulf Bank and American Express Middle East thanked H.E. Sheikh Salem Abdulaziz Al Sabah, Governor of the Central Bank of Kuwait, whose wise direction enabled the partnership between the two parties.
The agreement enables Gulf Bank to market and distribute American Express Cards through the Bank's 37-branch network across Kuwait. It will also provide cash dispensing services to all American Express Cardmembers as Gulf Bank has the largest share of off-site ATMs in Kuwait. As part of the agreement, American Express will issue US dollar denominated cards from Bahrain and manage credit operations and customer service.
The Cards that will be distributed by Gulf Bank will be designed to meet the evolving lifestyle needs of consumers at home and abroad and contain several core benefits, including financial empowerment, world-class service, outstanding value and travel assistance.
"Our partnership with Gulf Bank is a significant milestone in growing our presence in the Middle East through strategic alliances," said Mr. Trevor Stokes, President & CEO of American Express Middle East. "Bank partnership is integral to our global strategy to boost our local presence. This agreement combines our international expertise with Gulf Bank's well established reputation to raise the level and quality of payment options in Kuwait, one of the Gulf's most promising markets."
Mrs. Sana Juma, Acting CEO & CGM of Gulf Bank said, "Gulf Bank has a strong reputation for improving the customer's banking experience in Kuwait. We are delighted to partner with a world leader such as American Express in expanding our product portfolio to our valued customers and extending Gulf Bank's services to existing American Express Cardmembers in Kuwait."
Commenting on the payments industry in Kuwait, Mr. Mohammed H. Abdul Karim, American Express Country Manager - Kuwait said, "As some of the region's largest spenders, Kuwaiti consumers are increasingly demanding innovative payment solutions. This new partnership with Gulf Bank means our pioneering products will be available to more consumers who can benefit from the convenience of our Cards."
Mr. Nazem Al Qenae, General Manager Retail Banking at Gulf Bank said, "For our fast growing base of high net worth individuals in Kuwait, the benefits offered by the American Express Cards are well suited to the exacting demands of our clients. We are very pleased to announce this partnership and look forward to extending American Express' products and services to our preferred clients."
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About American Express:
American Express Company is a diversified worldwide travel, financial and network Services Company founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance and international banking.
AMEX (Middle East) B.S.C. (c) - AEME established its presence in the Middle East in 1959 and set up its first office in Bahrain in 1979. In 1992, American Express became a joint venture company owned by Mawarid Investment Limited and American Express.
Operating in 18 markets in the Middle East and North Africa region, AEME issues dollar currency Credit and Charge Cards: Personal (Green), Gold, Platinum as well as Company and Corporate Cards. Since 2001, with the introduction of its first local currency Credit Card in the United Arab Emirates, AEME has been introducing a range of local currency Credit Cards across the region.
American Express Cards are accepted at millions of locations in more than 200 countries and territories worldwide.
About Gulf Bank:
Gulf Bank is Kuwait's second largest and fastest growing commercial bank. Established in 1960, Gulf Bank has since progressed to becoming an industry-leading financial services provider complemented by a large network of 37 branches strategically positioned in key locations in Kuwait for the banking convenience of customers.
Gulf Bank - awarded 'Best Retail Bank in the Middle East' in 2005 and 2006 by Banker Middle East - routinely surpasses its competition by focusing on one simple strategy: delivering superior customer satisfaction. It offers state-of-the art technology based on international best practices and a wide range of innovative and dynamic banking programs under the leadership of a professional and innovative management team.
Gulf Bank has consistently delivered strong financial results in a highly competitive market environment reflecting its well focused and effective business strategies.
The Bank continues to grow and evolve its leadership position within the Kuwait banking community as a result of its innovative Transformation and Actualization Strategies that have been the driving force behind its management, operations- and remarkable success since 1999.
The main businesses of the bank are Retail Banking, Corporate Banking, Treasury, International Banking and Investment Management.
For further information, contact:
Ms. Emiranda Winter
External Communications Manager
Gulf Bank
Email: emiranda@gulfbank.com.kw
Ms. Graziela Martins
Corporate Communications & PR Manager
American Express Middle East
Email: Graziela.Martins@americanexpress.com.bh
© Press Release 2007
