FGB and LIC strengthen strategic partnership with co-branded credit card launch

FGB, LIC International have further solidified their strategic partnership, with the launch of a new co-branded credit card.

  
Hana Al Rostamani, Head of the Consumer Banking Group at FGB.

Hana Al Rostamani, Head of the Consumer Banking Group at FGB.

15 September 2015
Abu Dhabi, 15 September, 2015: FGB, one of the leading banks in the UAE, and LIC International have further solidified their strategic partnership, with the launch of a new co-branded credit card. LIC International is a subsidiary of the Life Insurance Corporation of India, the world's largest insurer with over 350 million policies globally.

The new FGB LIC International credit card offers customers a range of privileges, including complimentary LIC International life insurance coverage, interest-free payment plans, reward points and a host of lifestyle benefits.

FGB and LIC International have delivered a wide range of innovative insurance solutions to the UAE market since 2013, which are tailor-made to meet customers' needs. Earlier this year, LIC International recognised FGB's contribution during a ceremony in Bahrain, which was held to mark the bank's landmark achievement of AED 1 billion in first premium income.

Hana Al Rostamani, Head of the Consumer Banking Group at FGB, said: "FGB is proud of our association with LIC International. This product is another first for us in the region. This strategic partnership leverages the synergies of both organisations to offer tailor-made and innovative insurance solutions that are simple and hassle-free. This new credit card offers life protection coverage for AED 1 per month in addition to a 0% Easy Payment Plan on LIC International premium payments at no extra cost."

She added: "The FGB LIC International credit card also offers multiple complimentary lifestyle benefits, not just locally but also in India, Egypt and the Philippines, including free money transfers, pick-up and drop-off at airports, flight discounts and more."

Rajesh Kandwal MD & CEO of LIC International, said: "With the launch of FGB LIC credit card, our bancassurance partnership with FGB has not only been redefined, but a new depth in the relationship has been added. The card, being the first of its kind in the region, brings a unique added value of life insurance. I am sure that with FGB's strong customer connect, large customer base and effective distribution, the card will be a huge success and a win-win for our customers and our partnership."

-Ends-

About FGB
As a major leading Bank in the UAE, FGB had Shareholder Equity of AED 33.0 Billion as of June 30th, 2015 making it one of the largest equity based Banks in the UAE. Established in 1979 and headquartered in Abu Dhabi, UAE, the Bank offers a full range of financial services to business and consumer sectors throughout an extensive network of branches across the UAE. Internationally, FGB has branches in Singapore and Qatar, representative offices in India, Hong Kong, Seoul and London and a subsidiary in Libya.

FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE's dynamic economy. In line with its commitment to excellence the Bank continues to invest significantly in people and technology to provide superior service standards.

Awards

  • The Banker 2015 Islamic Bank of the Year Awards - "Shariah-Compliant Window"

  • 2015 Trade Finance Awards for Excellence: "Best Islamic Trade Finance Bank EMEA"

  • Asian Banker 2015 Middle East and Africa Country Awards: "Best Wealth Management in the Middle East Award" and "Best Mortgage and Home Loan Product in the Middle East Award"

  • 2015 Banker Middle East UAE Product Awards: 'Best Call Centre', 'Best Credit Card', 'Best Personal Loan', 'Best Wealth Management Service/Proposition,' 'Best Offshore Wealth Proposition', 'Best Deposit Account Product' and 'Best Bancassurance Product' 

  • 2015 Banker Middle East Industry Awards: "Best Bank in the UAE" and "Best Bank in the Middle East"

  • 2015 Global Capital Bond Market Awards: "Most Impressive Middle East Borrower Award"

  • 2015 Smart Card and Payments Middle East Awards: "Best Commercial Card Across Middle East"

  • 2015 MENA IR Insurance Awards: "Most Innovative Service Provider."

  • Interactive Media Awards: 'Best in Class' for FGB's My FGB Card website; 'Outstanding Achievement' for the  FGB Wealth website

  • UAE Excellence Awards: Golden Award for www.FGBWealth.com

  • Chartered Institute of Purchasing & Supply: "Best Procurement Start-up Function in the Middle East"

For more information
Visit FGB's corporate website: www.fgb.ae 
Follow FGB on social media:

For media inquiries, please contact:
Ghaleb Zeidan                                                                                 
Weber Shandwick MENA                                                               
Phone: + 971 50 778 2286                                                                            
Fax: + 971 2 449 4833                                                                    
Email: GZeidan@webershandwick.com                                     

Jennifer Cain
Weber Shandwick MENA
Phone: + 971 55 4741105
Fax: + 971 2 449 4833
Email:  JCain@webershandwick.com

Hiba Haddad
Weber Shandwick MENA
Phone: + 971 56 1679577
Fax: + 971 2 449 4833
Email:  hhaddad@webershandwick.com

© Press Release 2015


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