The new, unembossed, translucent, curved design and chip enabled debit card positions Qatari Banking on the Regional Map

28th June 2006 Doha, Qatar: Unveiled at a press conference at the Four Seasons Hotel Doha this morning, the International Bank of Qatar (IBQ) announced the launch of Qatar's first ever translucent, curved design and chip-enabled MasterCard Unembossed Debit Card, known as the MC?.  

The latest of IBQ's innovative financial retail products; the stylish MC? IBQ Card is the first such debit card in Qatar and the Middle East & Levant region. The EMV (Europay, MasterCard & Visa) compliant card contains a micro-chip which can be used together with a pin-number to offer enhanced security against fraud when making a financial transaction.  EMV chip enabled cards use encryption algorithms that provide authentication of the card at the processing terminal with instant authorization from the transaction processing centre.

The chip in the MC? IBQ MasterCard Debit Card gives cardholders the additional benefit of having other enhancements on the card.  The introduction of applications, such as ID and loyalty programs, can be added to the new MC? IBQ MasterCard Debit Card which will develop into a multi-purpose card offering IBQ's customers a wider variety of financial options in a secure and stylish manner.   

At the press conference MasterCard International and Network International joined IBQ in celebrating the launch and unveiled the unique features of this unique card.

"We are proud to be collaborating with Qatar Central Bank (QCB), MasterCard International and Network International in introducing Qatar's and the Region's first translucent MC? MasterCard Debit Card under IBQ's name and through this we will help place Qatari banking in a leading position throughout the whole Middle East and North Africa region," said Michael H. Williams, General Manager of IBQ.

Launched to coincide with the start of the travel season, the MC? IBQ MasterCard enables its holders to use their card at more than 26 million locations around the world, which include more than 1 million ATM locations worldwide.  The MC? IBQ MasterCard Debit Card is designed to ensure IBQ's customers receive convenient and secure access to their funds whenever and wherever needed. 

Williams continued, "Our customers are internationally focussed and technologically aware so this is an ideal solution for them as it offers global usage and enhanced security. We are honoured to be the first regional bank to offer this card and this reflects our commitment to offer our innovative services for our discerning and empowered customer base to help in our aim towards a distinctive leadership position throughout Qatar and the region."

Eyad Al-Kourdi, Vice President & Country Manager, UAE & Qatar, MasterCard International said "MasterCard International is delighted to collaborate with IBQ in developing this innovative unembossed debit card. The launch of the MC? IBQ MasterCard Debit Card reinforces the strong affiliation between MasterCard and IBQ.  The advanced functionality of the MC? card together with the MasterCard acceptance network and the security and convenience features, will maximise cardholder satisfaction.  We are confident that this new, stylish, first of its kind card, will be a great success."

Network International (NI) who also joined IBQ in celebrating the launch of the new DebitCard expressed their sincere gratitude for the joint collaboration. Ram Chari, General Manager, of NI said "Network International is known for giving the ME market several pioneering solutions. We are both happy and proud, to be associated with International Bank of Qatar in its endeavor to deliver next-generation cards to the Qatar market. We are hopeful that the new translucent card with a curvy edge will give the bank an 'edge' above its competitors."

During the press conference AbdulAziz Al-Khater Retail Banking Manager at the International Bank of Qatar (IBQ) stressed on the importance of offering customers high flexibility and the security of payment cards. "Bank cards are all about expedient and convenient access to money. With the first ever EMV enabled Debit Card in Qatar, we're now able to expand our customers' options by allowing increased flexibility through authenticating higher, more secure, debit card payment options. The new translucent curved design also allows us to offer our customers this option in a distinctive and very stylish manner."

The new MC2 IBQ MasterCard Debit Cards will be available to all new customers wishing to open accounts with the bank.  All IBQ's existing debit cards will be converted to the new MC2 IBQ MasterCard Debit Card on a phased basis.

-Ends-

Editors' Notes:
About International Bank of Qatar (IBQ)
IBQ, previously known as the Grindlays Qatar Bank is one of the oldest Bank's in Qatar and celebrates 50 years of banking in 2006. Previously, it was a member of the ANZ Grindlays banking group. The Standard Chartered group acquired the bank in 2000 and in 2003 sold its % stake to local shareholders, which made the bank fully locally owned and independently managed.

In 2004, National Bank of Kuwait acquired 20% stake in the Grindlays Qatar Bank, and assumed management responsibility. At the same time the name was changed to the International Bank of Qatar.

About MasterCard Incorporated
MasterCard Incorporated (NYSE:MA), through its principal operating subsidiary, MasterCard International, advances global commerce by providing a critical link among financial institutions and millions of businesses, cardholders and merchants worldwide.  Through the company's roles as a franchisor, processor and advisor, MasterCard develops and markets secure, convenient and rewarding payment solutions, seamlessly processes more than 16 billion payments each year, and provides industry-leading analysis and consulting services that drive business growth for its banking customers and merchants.  With more than one billion cards issued through its family of brands, including MasterCard, Maestro and Cirrus, MasterCard serves consumers and businesses in more than 210 countries and territories, and is a partner to 25,000 of the world's leading financial institutions.  With more than 24 million acceptance locations worldwide, no payment card is more widely accepted than MasterCard. www.mastercardinternational.com

Released on behalf of the International Bank of Qatar by Hill & Knowlton - for further information or to arrange an interview, please contact:
Nardine Gerges
Hill & Knowlton,
Qatar
Tel: +974 413 1260
Mob: +974 5540721
Email: nardine@hillandknowlton.com.bh 
 
Or
 
Samar Atassi
Head of Corporate Communications
International Bank of Qatar
Tel: +974 447 3700
Email: atassis@ibq.com.qa

Press Release 2006