Abu Dhabi - 24th May, 2011: Designed to recognise outstanding achievements which have positively contributed to the development of the smart card and mobile money industry in the Middle East, the Smart Card Awards are a key indicator of industry innovations. The National Bank of Abu Dhabi (NBAD) has steadily pushed ahead with new services that make a real difference to users. The bank has now been announced as the winner of Best Mobile Payment Application for its NBAD ARROW Mobile Application, which is based on mobile financial solutions from Luup.

NBAD, which is the first UAE Bank to offer mobile phone banking, has a long standing partnership with Luup to mobile enable a wide range of services, such as mobile remittances http://tinyurl.com/5u47rop. Luup offers banking-grade mobile payments and financial services solutions to its customers or partners and also manages the service. 

The Smart Card Awards are awarded at Cards and Mobile Money World Middle East, a leading conference that also featured Luup on a roundtable debate with several key partners in the region. Entitled "leveraging the mobile platform for financial inclusion" the expert panelists share insight into how unbanked people can be securely and conveniently connected to financial services through the mobile platform.

Morten Hofstad, Regional Director Middle East, Africa and India for Luup, outlined: "Social inclusion relies on offering unbanked users, such as migrants, options to easily manage money and transfer funds to other geographies. Luup has been building a seamless mobile remittances ecosystem in the Middle East. One of our strategic partners is NBAD and their win for Best Mobile Payment Application is a clear sign of the value such services bring to the region."

Ahmed Al Naqbi, Head of Direct Banking & E-Development at NBAD, said: "NBAD's Arrow mobile phone service has been a great and welcome tool in the market. Arrow has provided a quick and convenient banking tool and it has also expanded banking services to the unbanked population of the UAE. NBAD will continue to expand the growing and important smart phone services and we are determined to be at the forefront of mobile phone banking in the Arab world."

For further details of the awards and conference on the 17-18 May in Abu Dhabi see http://tinyurl.com/6bg3f7x

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About Luup
Luup offers banking-grade mobile payments and financial services solutions that solve customers' business challenges, giving access to new cost-saving and revenue-generating business models. Corporate and merchant banks can take advantage of the Luup Mobile Corporate Banking Solution; Retail banks can benefit from the Branchless Banking Solution; MTOs & exchange houses can innovate with the Remittance Solution. Luup has proven best-practice experience in developing, deploying and running mobile money managed services since 2002. These range from mobile cash or salary disbursements to remittances and corporate payments - all securely via mobile devices. 

Luup is creating an extensive payments gateway, enabling its customers to expand their own business reach with Luup's partners. The company devises strategies for financial institutions such as Deutsche Bank's Global Transaction Banking group and leading UAE bank, the National Bank of Abu Dhabi. Other partners include Oxigen Services in India, Dhasatra in Indonesia and ITC Ltd in Bangladesh. For additional information visit the Luup website.

About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in UAE, was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD). Ranked as one of the top 50 safest banks in the world, NBAD currently operates across 13 countries on four continents. NBAD has a network of 113 branches, cash offices, and more than 450 ATMs to provide banking services to customers all over the UAE. Besides brick & mortar branches, NBAD provides 24 hour internet banking access through NbadOnline and NbadDirect, the SMS-based payment service (Arrow) as well as account access and personalized customer support through its 24-hour Call Centre.

NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE. NBAD provides its customers with a wide variety of financial services targeting all segments of the consumer and corporate markets.

NBAD is rated senior long term/short term A+/A-1 by Standard and Poor's, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution. For additional information visit http://www.nbad.com/news/news_detail.php?ID=2746

Sales:
Morten Hofstad
Regional Director MENA and India
Phone +971 50 6255876
Email saqib.iqbal@luup.com
Dubai, United Arab Emirates

Press:
The Content Factory
Layth Dajani
Phone +971 (4) 4472501
Email: team@tcf-me.com
Dubai, United Arab Emirates

Beatrice Martin-Vignerte
Director of Corporate and Marketing Communications
Phone +44 788 4187763
Email beatrice.m-vignerte@luup.com
London, United Kingdom

Luup and the Luup logo are trade marks of the Luup Group of Companies. All other company or product names mentioned herein may be trade marks of their respective own

© Press Release 2011