2004
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Mashreqbank, 5.5pc return
Mashreqbank's Libor Festival Extra is offering a 5.5 per cent return guaranteed for the first six months with a 100 per cent principal guarantee. Returns are linked to 6-month USD Libor rates which may rise and fall. Subscriptions close January 24 and maturity is in five years.
ADCB, new call centre
Abu Dhabi Commercial Bank has set up a new call centre to enhance service to customers. The 24x7 call centre is equipped by Avaya and project managed by Cedar Consulting. The design is modular and can be scaled up to handle future workloads.
Win a Mercedes from Rakbank
On the 7th of each month the National Bank of Ras Al Khaimah has a draw for a Mercedes-Benz S350 or Dhs100,000. This month's lucky Rakbank winner was Mr I.A. Mohamed. For more details on this free raffle visit www.rakbank.ae.
New Indian mutual fund
Kotak Mahindra Mutual Fund has launched its new Kotak Global India Scheme with subscriptions open until January 16. The scheme is being marketed through a number of Gulf banks. It offers exposure to the booming Indian economy and companies active in global markets.
MasterCard, Egypt remittances
MasterCard has teamed up with the National Bank of Egypt and Al Fardan Exchange to launch a pre-paid card money transfer scheme. There are two cardholders per account, one in Egypt and one in the Gulf. The sender visits an Al Fardan Exchange to top up the card which can then be used at ATMs or in shops.
Mashreqbank, USD3m DSF prizes
Mashreqbank will be offering USD3m in cash prizes as well as two luxury apartments to winners of its MashreqMillionaire draws during the Dubai Shopping Festival from January 15 to February 15. Savers still have time to buy MashreqMillionaire certificates to qualify for the draws.
Dubai Bank ups loan benefits
Dubai Bank has launched a personal loan scheme with outstanding benefits including USD100,000 of free life insurance, USD100,000 disability insurance, unemployment cover and global hospitalisation cover. Approvals can be credited within 48 hours and repayments are up to 84 months.
UAE upgrades Switch network
The UAE Interbank Switch network is being upgraded to create a national point-of-sale network, announced the Central Bank. This will also help facilitate e-government and e-commerce payments. There will be a small charge for customers using POS in shopping malls as with ATMs.
Visa, Disneyland DSF promotion
Visa International is offering card holders the chance to win a trip to Disneyland in Paris with every purchase made on their cards during the Dubai Shopping Festival. Cardholders can double their chances by sending the code on their Visa receipt to enter@visa-dsf.com.
UNB, 6pc first year notes
Union National Bank has launched investment guaranteed notes that pay six per cent guaranteed interest for the first year only. Returns are payable half-yearly over five years, and the minimum deposit is USD5,000. Subscriptions close on January 17.
DSF, commemorative gold coin
The Gold and Jewellery Group Dubai has launched a commemorative gold coin depicting the world family for the Dubai Shopping Festival 2004. The 10-gram pure gold coin will cost Dhs535. Given the rising gold price these days it may also prove a good investment.
MeBank, VIP event invitations
MeBank is offering two free VIP event invitations to anyone who takes a new personal loan, a car loan, a credit card or deposits Dhs50,000 between January 1 and February 15. The offer also applies to Emirates Bank and Middle East Bank customers but is strictly on a first come basis and you have to call a hotline, 04 316 0202 to qualify.
SCB loans, free air ticket
Every personal loan from Standard Chartered Bank in the UAE comes with a free Emirates Airline ticket to one of 19 selected destinations. SCB loans are repayable in up to 60 months, offer first repayment in 75 days and free credit life insurance. Visit, www.standardchartered.com/ae
Insurers to close on Thursdays
UAE insurance companies will be closed on Thursdays from Fabruary 1. The implementation of a two-day weekend is part of a scheme to encourage the employment of UAE nationals. Working hours will be 7.30am to 3.30pm, although firms will be allowed to pay staff to work longer.
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