2003
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NBD Platinum MasterCard launch
The National Bank of Dubai has launched its top-of-the range Platinum MasterCard which will be issued by invitation only. Services for cardholders include 24-hour customer service, medical referrals, high insurance premiums and online account access.
ADCB, credit card prizes
Abu Dhabi Commercial Bank has introduced prizes for its credit cardholders over the summer. The next prize is a trip to Beirut for two people in a five-star hotel. All you have to do is fill out a personal details form and drop it into a box at any branch before September 28.
BIB, Islamic mobile banking
The Bahrain Islamic Bank is set to launch its hello Islamic mobile banking service by the end of the year, reported The Bahrain Tribune. This will include a state-of-the-art call centre to handle thousands of calls a day. The new initiative is expected to be very popular with customers, said officials.
Saudi British, KSA equity service
The Saudi British Bank is promoting its local equity services, and its international expertise as an affiliate of the HSBC Group. The bank recently won the Euromoney award for the Best Equity House in Saudi Arabia. For more details visit, www.sabb.com.
NGI enters UAE life assurance
National General Insurance is to enter the UAE's life insurance market which is presently very small and controlled by Alico, Alliance and Zurich Financial Services. NGI has just inked a reinsurance deal with Swiss Re. New UAE mortgage holders all have to take out life insurance, so this is a potential boom market.
Visa, win a dream home promotion
Visa International has launched its largest ever regional promotion offering the chance to win USD272,000 to buy a dream home anywhere in the world. Any cardholder making more than five point-of-sales transactions between September 14 and October 26 will automatically be entered in a grand draw for the prize.
RakBank, credit card cheques
RakBank has introduced an innovative new service that allows customers to issue cheques against their RakBank credit cards. The Dial-a-CCC service also allows customers to use their credit cards in places where they are not normally accepted simply by dialing the 24-hour phone bank service.
Bin Laden video spooks investors
The release of a video purporting to be Osama Bin Laden on the second anniversary of the 9/11 attrocities spooked Japanese investors causing a sharp sell off in shares. Other Western markets are expected to be nervous today with some analysts also worried that the recent stock market rally has gone too far.
Qatar foils credit card fraud
The Qatari authorities, Visa and MasterCard have combined forces resulting in the detention of nine foreign visitors who attempted to commit credit card frauds in Qatar, reported The Peninsula. Over 100 fake and copied cards were seized in four different cases last year. One Bangladeshi student was seized when the Central Bank of Qatar's computerised system detected unusual activity on his cards. Other cases involved gangs from Nigeria and Malaysia.
Gold price signals danger ahead
Gold prices hit USD383 per ounce on Tuesday, a seven year high. Financial advisers warned that this sort of price level was usually a bad sign for financial markets. High volatility this autumn could be in prospect and investors are advised to take appropriate action.
Al Rajhi, KSA online remittances
Al-Rajhi has launched a new service, Cash Online, that enables expatriates in the Kingdom to send remittances back home within two hours. The service charge is SR20. It is available for remittances to Egypt, India, Pakistan, the Philippines, Bangladesh, Jordan and Lebanon.
Mashreqbank, Samsung tie-up
Mashreqbank and Samsung have tie-up to offer a credit card that offers the chance of winning Samsung products, plus double points on all purchases with the card until November 30. The card also offers benefits such as an extended warranty on Samsung products.
StanChart cards, humanitarian aid
For every new Standard Chartered gold credit card, auto or personal loan, or investment plan, the bank will donate Dhs50 towards restoring the sight of the needlessly blind. This is part of the bank's 150th anniversary celebration which aims to raise enough funds to restore the sight of 28,000 people before the end of September.
Osool, Murabaha Vehicle Finance
UAE finance company Osool provides Islamic car finance under its Murabaha Vehicle Finance scheme. This scheme has all the advantages of traditional auto finance, but is also fully Sharia certified by the company's advisor Dr Mohammed Imran Usmani.
Citibank, Market Linked Deposit
Citibank is offering its High Yield Market Linked Deposit with an assured minimum return of three per cent, and the opportunity to add 4.25pc. The deposit matures in three months. Invest more than USD250,000 and you get a free laptop. Subscriptions close September 28. Visit, www.citibank.co.ae.
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