Bank Audi and MEA targets companies with new Bank Audi - Cedar Miles Visa Corporate Card

This step comes 4 years after the successful launch of the Cedar Miles Credit Card Program which targets individuals and has become the leading credit card in the market.

Together, Bank Audi and MEA welcomed more than 250 CEOs and company owners to a business lunch at Eau de Vie - Phoenicia Intercontinental Hotel, April 30, in the presence of Mr. Raymond Audi, Chairman and General Manager, Bank Audi sal - Audi Saradar Group along with the Bank's CEO, Mr. Samir Hanna, and MEA Chairman - Director General, Mr. Mohamad El Hout, and of Mr. Tony Gougassian, Area Manager Visa International.

The launch of this program demonstrates the commitment and support of both Bank Audi and MEA to the private sector in Lebanon which plays a fundamental role in the booming of the Lebanese economy. This program is tailored to meet the specific needs of business owners and large companies, as it allows them to use the Bank Audi-Cedar Miles Visa Corporate card for their business expenses and turn those expenses into Cedar Miles. At the same time, it is a tool to manage and control their staff's business expenses.

Tony Gougassian, Visa Inc Area Manager for Qatar and the Levant, said: "T&E expenses accounts for 8-10% of total operating expense and a lack of control & compliance is the biggest challenge faced by Corporations globally. Bank Audi Cedar Miles Visa Corporate Card is designed to help Companies streamline and effectively manage T&E and other business related expenses which will result in process & purchase savings.

"Bank Audi is truly dedicated to serve as an ally to medium and large business owners," said Randa Bdeir, Head of Electronic Banking and Business Development at Bank Audi sal - Audi Saradar Group.

She also added "The launch of the Cedar Miles Visa Corporate program is the latest confirmation of our support. We believe that business owners' primary motivations for obtaining corporate cards include the separation of business and personal expenses for tax and accounting purposes, and the ability to receive airline rewards program and value-added benefits. That is why we have tailored this program to offer business owners a powerful solution for managing business expenses and simplifying claims and processing, while rewarding both the company and its employees at the same time with free Cedar Miles: 1 mile for every dollar spent on the card. The program is backed by a comprehensive package of insurance, security and travel related benefits."

Mrs. Ayla Damé, Director Customer Services, MEA, specified that "Travel remains the most powerful drive for loyalty. What makes this card unique is that, for the first time in Lebanon, companies will be able to earn Cedar Miles as a result of business expenses. On the other hand, this will not take away any of the miles regularly earned by their employees when they fly MEA."

Benefits of Cedar Miles Visa Corporate Card

With the Cedar Miles Visa Corporate card, medium and large enterprises, multinational corporations, government and other public sector agencies have unsurpassed control over how funds are spent, and by whom. Organizations simply decide which employees receive the payment cards and how much they can spend. Each corporation that signs up for this program can decide on the employees in the name of whom they want to issue this card, and assign a desired credit limit based on their needs. This will eliminate the need for frequent cash advances to senior executives and employees, mainly for travel and entertainment purposes, and will help executives effectively manage their business expenses.

Employees shall receive monthly statements detailing expenses charged to their respective corporate cards, while their company receives a consolidated monthly statement outlining expenses incurred by each of them. The corporation also receives 50% of the accumulated miles, while the remaining 50% will be credited to the employee's Cedar Miles account.

The card also comes with free:
-2,000 Welcome Bonus Miles for the company.
-2,000 Welcome Bonus Miles for the employee.
-Free Access to MEA's Beirut Cedar Lounge at Beirut's Rafic Hariri International Airport for 1 year.
-Travel Accident Insurance - up to $100,000 per cardholder.
-Purchase Protection: insurance on purchases made with the card for up to $1500.
-Online verification of the monthly expenditures, along with the individual cardholder statements.