RAKBANK and nmc Group launch co-branded MasterCard

Committed to health, wealth and happiness, the nmc RAKBANK MasterCard combines nmc's strong consumer-based strategy with RAKBANK's innovative customer-focused initiatives and new technology, providing customers with a greater choice of competitive financial services and an extensive range of health benefits.

"The launch of the new nmc RAKBANK MasterCard is part of our continued efforts to strengthen our position as a leading financial institution, providing a high level of financial services to customers," said Graham Honeybill, General Manager, RAKBANK at a joint press conference today.

"We are pleased to announce this partnership with nmc, a corporation known for its expertise and professionalism in a wide range of services to consumers. nmc hospitals are one of the most efficient in the Emirates with state-of-the-art equipment and specializations. They must be very proud to be rewarded the prestigious ISO 9001 certification. It is a relationship in strong synergy with our philosophy of understanding our customer's commitments and their needs to secure not only desirable health, but also wealth and happiness," he said.

RAKBANK's pioneering consumer finance initiatives have led to a range of industry innovations, and the nmc RAKBANK MasterCard carries a number of these benefits, such as being free for life and offering a low interest rate of 1.5% on outstanding retail balances. The Card also offers customers the opportunity to win AED 1,000,000 every three months, and AED 500,000 every other month. Five lucky winners will walk away with AED 50,000 and another 50 winners will get up to AED 5,000 each month.
In addition, customers will have access to a wide range of health benefits and discounts at nmc Hospitals and Pharmacies across the UAE.

nmc is an international conglomerate encompassing companies that are brand leaders in healthcare, hospitality, foreign exchange and remittances, trading and jewellery. nmc Managing Director & CEO B.R. Shetty said at the press conference: "We are delighted to join RAKBANK in launching this new co-branded MasterCard, extending the bank's ground-breaking services to our far-reaching customer base. We feel this will provide our customers a greater choice of financial options that will enhance their potential for health, wealth and happiness."

"We are pleased to have worked closely with RAKBANK, a leading retail bank in the UAE, to launch the new nmc RAKBANK MasterCard. This unique payment card demonstrates how MasterCard is unsurpassed in providing its member financial institutions and their cardholders with a variety of innovative and secure payment options," said TK Raman, Vice President & Country Manager GCC. "MasterCard continues to be a leader in co-branded programs that offer customers expanded benefits including global acceptance and loyalty rewards," he added.

This partnership has resulted in a number of features exclusive to the nmc RAKBANK MasterCard, including a range of medical benefits and discounts on X-ray, Ultra Sound, Mammography, CT Scan and MRI at New Medical Centre hospitals across the UAE. Discounts are also offered on non-pharmaceutical products at nmc Group pharmacies around the country, as well as on optical products, beauty treatments, jewellery and dining.

As a RAKBANK Credit Card, nmc RAKBANK MasterCard also features the Credit Card Cheque facility, a unique service that allows customers the convenience and flexibility of using their available credit limit to make payments not normally possible on a regular credit card. With RAKBANK's CCC, customers can transfer any cheque payment, such as house rent and school fees, onto their credit card thereby earning more chances in the popular RAKBANK draws.

In addition to rewarding chances to win millions of Dirhams, the nmc RAKBANK MasterCard also offers up to 55 days interest-free credit and cash advances of up to 75% of approved credit limits, amongst a host of other benefits.

Graham Honeybill, General Manager, RAKBANK further added, "Consumers today require much more from financial offerings to satisfy their lifestyle demands pertinent to health and happiness. We recognize the pulse of the consumer whose priorities are family centric and firmly believe the nmc RAKBANK MasterCard will deliver on those aspirations, resulting in a happy balance."