Uniquely the deal is retroactive in that cardholders can also choose to redeem their existing MashreqPoints for award miles that can be redeemed for tickets, upgrades, hotel reservations, car rentals, and many more awards around the world.
"Lufthansa is one of the world's leading airlines with a modern fleet of more than 330 aircrafts. Together with its 17 Star Alliance partners, such as Singapore Airlines and Thai Airways, it offers the world's most extensive route network of more than 700 destinations in over 120 countries. We are glad to have such an important partner," said Steven Pinto, Senior Vice President and Head of Retail Banking Group, Mashreqbank.
"This new agreement with Lufthansa Miles & More provides our cardholders with the most competitive rewards scheme available, and it costs nothing as points are accumulated simply by using their cards rather than cash or cheques," Pinto added.
"We are delighted to conclude this agreement with Mashreqbank, as the leading issuer of credit cards in the UAE, to offer their credit cardholders the world's most comprehensive Frequent Flyer Program. With its partnerships of luxury hotels around the world such as Hilton and Le Meridien Hotels, car rental partners like Avis and Hertz, as well as partners like Vodafone and Porsche, Miles & More provides participants numberless attractive possibilities of collecting and spending miles," said Dr. Andreas Betzer, Managing Director of Miles & More International.
All Mashreqbank cardholders will automatically become Miles & More members as soon as they choose to convert their MashreqPoints to award miles. The conversion rate of 3.5 MashreqPoints to one award mile makes it the most rewarding such programme in the UAE.
MashreqPoints are earned every time Mashreqbank cardholders conduct transactions on their card, whether for shopping, paying for fuel, cash withdrawals, settling a utility bill or even paying interest on outstandings. One MashreqPoint is earned for every dirham transacted and two points on every dirham of interest charged to the credit card.
In addition to the new Miles & More mile scheme, MashreqPoints can be redeemed for free gifts and services at over 300 Rewards Partner outlets in the UAE and popular nearby destinations.
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Mashreqbank cardholders to earn award flights with Lufthansa Miles & More
- United Arab Emirates: Monday, May 12 - 2003 at 15:34
- PRESS RELEASE
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Mashreqbank has entered into an agreement with Lufthansa Miles & More to enable the bank's cardholders to redeem MashreqPoints, which they earn for every transaction they make using their credit cards, for Lufthansa 'award miles.'
Left: Steven Pinto, Senior Vice President and Head of Retail Banking Group, Mashreqbank and right: Dr. Andreas Betzer, Managing Director of Miles & More International.
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Posted by Anne-Birte Stensgaard, Senior News EditorMonday, May 12 - 2003 at 15:34 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
This article was updated on Mon Aug 18 2003.
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Mashreqbank psc
Mashreqbank psc is one of the leading banks in the United Arab Emirates (UAE), with total assets of AED 23,700 million (US$ 6,452.5 million - as at 31st December 2002) making it the largest private bank in the UAE. It is the second oldest Commercial Bank in the UAE having originally been established as Bank of Oman Ltd. in 1967 in Dubai. Mashreqbank's diverse range of Products and Services include Credit Cards, Consumer Lending, Trade Finance, Project Finance, Electronic Funds Transfer at Point-of-Sales, Automated Teller Machines, Call Center, Treasury, Correspondent Banking, Online Banking and GSM banking, all founded on the most contemporary technology and service excellence.
About Lufthansa
Lufthansa flies to over 300 other destinations in more than 85 countries via Lufthansa's hub in Frankfurt. Lufthansa owns a fleet of over 300 planes and is considered to be one of the best 10 worldwide fleets. Lufthansa reserves the number one position in Europe in terms of passenger numbers and is the founding member of the Star Alliance which offers the world's most extensive route network, with more than 700 destinations in over 120 countries. The Lufthansa fleet is known for its aura of sophistication, environment friendly disposition & efficient customer service, thereby making it safe, secure and comfortable for its customers around the world.
For further information about Mashreqbank, please contact
Maha Yassine
Corporate Communications Manager, Mashreqbank
Tel: +971-4- 7066287
Jack Pearce
Matrix Public Relations
Tel: +971-4- 3430888
For further information about Lufthansa, please contact
Hameed Halwani or Arafaat Ali Khan
Tel: +971-4- 2694550
Mashreqbank psc is one of the leading banks in the United Arab Emirates (UAE), with total assets of AED 23,700 million (US$ 6,452.5 million - as at 31st December 2002) making it the largest private bank in the UAE. It is the second oldest Commercial Bank in the UAE having originally been established as Bank of Oman Ltd. in 1967 in Dubai. Mashreqbank's diverse range of Products and Services include Credit Cards, Consumer Lending, Trade Finance, Project Finance, Electronic Funds Transfer at Point-of-Sales, Automated Teller Machines, Call Center, Treasury, Correspondent Banking, Online Banking and GSM banking, all founded on the most contemporary technology and service excellence.
About Lufthansa
Lufthansa flies to over 300 other destinations in more than 85 countries via Lufthansa's hub in Frankfurt. Lufthansa owns a fleet of over 300 planes and is considered to be one of the best 10 worldwide fleets. Lufthansa reserves the number one position in Europe in terms of passenger numbers and is the founding member of the Star Alliance which offers the world's most extensive route network, with more than 700 destinations in over 120 countries. The Lufthansa fleet is known for its aura of sophistication, environment friendly disposition & efficient customer service, thereby making it safe, secure and comfortable for its customers around the world.
For further information about Mashreqbank, please contact
Maha Yassine
Corporate Communications Manager, Mashreqbank
Tel: +971-4- 7066287
Jack Pearce
Matrix Public Relations
Tel: +971-4- 3430888
For further information about Lufthansa, please contact
Hameed Halwani or Arafaat Ali Khan
Tel: +971-4- 2694550
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