Access to over 3,900 ATMs in the UAE and more than 1.76 million ATMs globally

Dubai, United Arab Emirates, 10th October 2010: Mashreq Al Islami, the Islamic banking division of Mashreq announced the launch of 'Mashreq Al Islami Debit Card.' The card is set to provide secure access to over 3,900 ATMs in the UAE and over 1.76 million ATMs around the world (VISA/PLUS logo), and add an additional layer of convenience to Islamic banking customers.

Available across all Mashreq branches, the debit card comes with an embedded microchip that prevents replica and safeguards against counterfeit, opening up a world of secure banking. The offering is set to be a welcome addition to Mashreq Al Islami's growing line of flexible banking services that enable customers to manage their finances securely.

Commenting on the launch, Douglas Beckett, Head of Retail Banking Group of Mashreq stated, "Customers want to know that their cards are safe, secure and well protected. Consumer spending habits show that shopping is on the uptake, making it vital for cards to come with embedded security. In addition, debit cards are a safer alternative to carrying large amounts of cash when travelling. With the launch of Mashreq Al Islami Debit Card, customers can shop or make payments with the knowledge that they are protected. The strong combination of innovation and progressive Islamic Banking service products, we continuously look forward to offering convenient financial solutions based on customer requirements."

Mashreq Al Islami offers progressive Sharia'h Complaint banking solutions across Mashreq branches in the UAE. It focuses on offering a full suite of Sharia'h Compliant products and services, with a host of new products to be rolled out to both retail and corporate customers. Mashreq Al Islami will also provide Islamic Advisory Services, Structuring Finance Solutions, Sukuk Advisory, Islamic Investment Products and Islamic Treasury Products etc.

Moinuddin Malim, CEO of Mashreq Al Islami included, "At Mashreq Al Islami, we strive to provide both our retail and corporate clientele with a full suite of Sharia'h Compliant products and services that meet the demands of their everyday lives. Mashreq Al Islami Debit Card is highly beneficial for retail customers and is truly representative of the nature of our business, which revolves around our customers."

The Mashreq Al Islami debit card provides convenient access to cash around the world, enabling customers to withdraw money from a multitude of ATMs both locally and globally. Customers can also make direct payments from their bank account at over 27,000 retail outlets in the UAE and over 26 million worldwide without the worry of bills, interest or annual fee.

Mashreq Al Islami is being led by a fully independent and experienced management team. As the Islamic products and services will be marketed throughout all of the existing Mashreq outlets, existing Mashreq personnel are being trained and Sharia'h Certified. All staff operating in Mashreq branches will be qualified to advise on Sharia'h-compliant products and services.

For more information on Mashreq Al Islami, please log on to www.mashreqalislami.com or call 04- 4244411.

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About Mashreq:
Mashreq is one of the largest banks in the UAE. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts, it was the first to launch such products as travelers' cheques, credit cards and ATMs.

Mashreq has received numerous international awards such as the Best Bank in the UAE in 2008 from Euro money and various awards particularly for quality management. It's most recent acknowledgement was Best Consumer Internet Bank in Qatar 2009 & 2010, Best Consumer Internet Bank regionally by Global Finance Awards 2009 and Best Emerging Market Banks Middle East  by Global Finance Awards 2010.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

Nancy D'Souza
Gulf Hill & Knowlton
Tel: 04 334 4930
Email: Nancy.DSouza@hillandknowlton.com

© Press Release 2010