The payroll card "Ratibi", is designed to replace the payment of the wages made through Cheques and cash. It is an efficient way for corporations to manage their payroll processing accounts. In addition, it gives employees the flexibility of making cash withdrawals and other banking transactions via worldwide ATMs and it can also be used as a Debit Card for purchases on Points of Sale (POS) machines.
With no minimum balance or annual fees, corporates can simply issue Ratibi cards for all their laborers. Then, all the corporates have to do is execute one single bank transfer on monthly basis and the cards of the employees are loaded with their salaries.
"We are always keen to provide services and products that benefit our customers. We identified a very intriguing opportunity in this new solution, which comes in pursuant to the Ministry of Labor regulation regarding salary payment to employees through bank accounts" said Mr. Saif Al Shehhi, Senior General Manager, NBAD's Domestic Banking Division.
"It also represents a part of NBAD initiatives to provide our customers with more electronic banking solutions as we strive to make banking with us easier" he added.
"Ratibi will provide corporations lower cost of handling money which means less risk and hassle associated with cash; facilitate paying employees at off-site locations; and eliminate printing and distribution of checks and money as well" said Mr. John Malouf, NBAD's Head of Retail Banking Group.
"On the other hand, the workers and employees will enjoy the privilege of immediate funds from ATMs around the clock without opening an account,"
"NBAD is well equipped with one of the largest ATM Networks in the UAE which covers both the cities and industrial areas where most of the laborer camps are situated. This Network of 193 will expand during 2008 to reach over 300. In addition, we will supplement this network with Mobile ATMs to be used during salary disbursement days," he added.
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NBAD launches 'Ratibi' to facilitate payment of workers' wages
- United Arab Emirates: Sunday, February 10 - 2008 at 09:16
- PRESS RELEASE
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The National Bank of Abu Dhabi (NBAD) has launched 'Ratibi', the innovative payment solution to meet the needs of corporations and their employees while reducing significantly their processing cost.
Mr. Saif Al Shehhi, Senior General Manager, NBAD's Domestic Banking Division.
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Posted by Medilyn Manibo, Assistant News EditorSunday, February 10 - 2008 at 09:16 UAE local time (GMT+4)
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About NBAD
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 76 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations. NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services.
The branch network is widened further with 193 ATMs through which customers perform a variety of transactions.
Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.
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 one of the strongest combined rating of any Middle Eastern financial institution.
NBAD is an award winning leader in the UAE and GCC financial services industry. Awards won by the bank include 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.
For media enquires, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Mob: + 971508126799
The National Bank of Abu Dhabi (NBAD), The Number One Bank in the UAE, was incorporated in 1968. NBAD has a network of 76 branches in the UAE in addition to Cash offices that are spread out at remote locations to provide banking services to customers stationed at offshore oil operations and in desert locations as well as other government organizations. NBAD also has three Shift offices inside the security areas of the Abu Dhabi International Airport providing currency & traveler's cheques exchange services.
The branch network is widened further with 193 ATMs through which customers perform a variety of transactions.
Besides brick & mortar branches, NBAD provides 24 hour internet banking accessibility through NbadOnline and NbadDirect, as well as account access and personalized customer support through the 24-hour Call Centre.
NBAD's overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C., Egypt and Sudan in Africa, London, Paris, and Geneva in Europe to Washington D.C. in the U.S.A.
The bank provides its customer with a wide variety of financial services targeted at all segments of the retail and corporate market in addition to Fund Management, Brokerage, Leasing, Property Management businesses and Private Banking.
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 one of the strongest combined rating of any Middle Eastern financial institution.
NBAD is an award winning leader in the UAE and GCC financial services industry. Awards won by the bank include 'Best Bank in UAE' from Euromoney and Banker publications, 'Human Resources Development Award' from the Emirates Institute for Banking & Financial Studies, the 'Middle East e-Banking Country Award', the 'Outstanding use of IT in Financial Services Award, and excellence award for 'Best use of Technology' from Banker Middle East.
For media enquires, please contact:
Ehab Khairi
Media & PR Manager
National Bank of Abu Dhabi
Tel: +97126111190
Mob: + 971508126799
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