MasterCard Worldwide awards RAKBANK with Gold Award

The award ceremony took place in Hong Kong at the Grand Hyatt Hotel, and was a part of the MasterCard Asia Pacific, Middle East & Africa (APMEA) Product Forum held on August 3rd and 4th, 2006.

On the eve of the award ceremony, Mr. Graham Honeybill, General Manager RAKBANK said, "Introducing the RAKBANK Titanium MasterCard credit card to the Middle East region was a challenging but enjoyable task. I would like to congratulate my team for their phenomenal effort and hard work which made this happen. Our thanks also goes to MasterCard for their superb support throughout this initiative."

Targeting the higher net-worth residents of the UAE, the RAKBANK Titanium MasterCard credit card is designed to suit the elite lifestyle of the highly accomplished & young populace of this region. The RAKBANK Titanium MasterCard credit card, the first of its kind that had been launched in the ME&L region, is not only unique in its shape and color, but also extraordinarily distinctive in its benefits. With upto 2% cash back on all purchases, and an opportunity to win one million Dirhams every quarter, the card was designed to be irresistible.

The MasterCard Product Awards, which cover the APMEA region, recognize excellence and best practice in card product innovation and operation in a variety of categories, such as Debit Cards, Contactless Payments, Consumer Credit, and Corporate Payment Solutions, over the past 12 months. The panel of award judges was comprised of senior executives from MasterCard Worldwide.

"We, at RAKBANK, highly value the unique partnership we share with MasterCard Worldwide. The level of support and recognition we receive from them adds to our organization's success,"

said Graham Honeybill, General Manager RAKBANK.

"Innovative products, unmatched quality service, and a brilliant team are but a few elements that position RAKBANK a leader in the field of retail banking in the UAE. This award is a great motivation for our team to always maintain the high standards we set for ourselves," added Honeybill.

Denzil Lawson, General Manager, Middle East and Levant (ME&L), MasterCard Worldwide said: "MasterCard brought together leading payment product experts from around the world in Hong Kong to discuss current and future payment systems and how to enhance them for the benefit of consumers. We believe in constant innovation and staying ahead of cardholder needs. An important part of staying ahead of these needs is sharing best practices that other organizations can learn from. The judging panel had a hard job as standards were high. We were delighted that RAKBANK received deserved recognition for its innovative RAKBANK Titanium MasterCard."