National Bank of Abu Dhabi and MasterCard International launch global Money

The new program is designed to serve the large number of residents who live in the UAE enabling them to send money abroad to their families and friends. The new card program operates simply, reliably, instantaneously and includes a primary card and up to 4 supplementary cards. The supplementary cards are kept by the people receiving the money abroad, whereas the other remains with the sender living in the UAE.

The sender will be able to transfer funds to the receiver simply by visiting selected branches of the National Bank of Abu Dhabi in the UAE. As soon as the transaction is complete, the money is instantly available on the receiver's card and can be accessed via an ATM machine, or be used to make purchases at any MasterCard Electronic point-of-sale terminal across the globe. The customer can elect for the card currency to be either Egyptian Pounds or US dollars.

Saif Al Munakhas Al Shehhi, General Manager Domestic Banking Division, National Bank of Abu Dhabi said, "As the UAE attracts residents from many different countries, National Bank of Abu Dhabi is a step ahead to ensure their banking needs meet everyone's lifestyles. The working expatriate population regularly sends their wages back to support family members or students studying overseas. Offering added security and flexibility, this program is the perfect payment solution to meet their needs."

"National Bank of Abu Dhabi is a long-standing partner of MasterCard and we are committed to constantly offering innovative and convenient banking solutions to its customers. We are particularly pleased to have teamed up with them to offer the MasterCard Money Share prepaid MasterCard Electronic Card, the first of its kind by a local UAE bank," said Denzil Lawson, senior vice president and general manager, MasterCard International, Middle East and North Africa.

Denzil Lawson concluded, "The card forms part of the MasterCard Prepaid Services product offering. This program leverages the MasterCard's worldwide acceptance and prepaid platform systems, allowing the banking industry to cost-effectively tap into the developing the business of sharing money between expatriates and their families back home."