2004
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DIB launches mobile online banking
Dubai Islamic Bank has unveiled its Al Islami Mobile Banking service, which allows customers to access online banking services through mobile phones and PDAs. DIB Senior Vice President Mohammad Al Ameery said the bank introduced the mobile service in response to demands from customers.
Internaxx at Dubai Property Show
Internaxx will be giving live demonstrations of its online trading platform at the Worldwide Property Show at the Dubai Grand Hyatt this weekend. The Luxembourg based stock broker is owned by blue-chip banks and offers trading on a dozen global stock markets over the Internet.
AUB launches loan incentive
Ahli United Bank of Bahrain has unveiled its MyLoan Cash Bonus - an incentive scheme to encourage customers to take personal loans. The promotion rewards customers with an immediate cash payment of five per cent of the loan amount. All customers who transfer their existing loan from another bank, or take a new loan, will be eligible.
DIB unveils Etisalat tie-up
Dubai Islamic Bank has unveiled its Instant Bill Payment Service, which will allow customers to settle Etisalat accounts through its ATM machines. The new service allows DIB customers to recharge and renew their Al Wasel card, view their outstanding Etisalat Bills, reactivate phone lines, and receive instant credit for their Etisalat Bills.
Gold price slips back
The price of gold dropped back from USD417 to USD412.75 an ounce on Monday. This reflected a strengthening of the US dollar from 1.24 to 1.2273 to the euro. Gold prices frequently move in tandem with the greenback which gained from greater optimism about the economy.
DIB unveils Electronic Branch
Dubai Islamic Bank has unveiled its Electronic Branch concept. The fully-automated Electronic Branch will enable DIB customers to open savings, current and investment deposit accounts without any human interaction, among other services. DIB plans to open eight Electronic Branches by 2006.
MasterCard regional draw
MasterCard International has launched a regional MasterCard Holiday Season promotion. This promotion will offer MasterCard cardholders of participating banks an opportunity to win up to USD10,000 each, and will run from October 1 to December 31. MasterCard cardholders simply have to use their card to be automatically entered into the draw.
Emirates Bank launches mobile ATM
Emirates Bank Group has launched the UAE's first ATM on wheels. The machine will be used at conferences and exhibitions, as well as remote areas where there are no permanent ATMs. The ATM works on GPRS technology to access bank account details of users.
HSBC bearish on US dollar
HSBC Director of Strategy, Global Markets David Bloom told investors in Dubai that the market is still coming to terms with the low inflation environment. This will favour the euro, gold and general safe haven investments, he said. The US with its massive current account deficit and budget deficits, high indebtedness and an overvalued housing market is likely to see the dollar suffer most.
Mashreqbank in GITEX offer
Mashreqbank and MasterCard have launched a credit card promotion at Dubai's GITEX Computer Shopper event. Five cardholders will win prizes valued at twice the sum they spend at GITEX Computer Shopper, up to a maximum of Dh5,000. GITEX Computer Shopper runs until October 8.
Fastlink, Visa payments agreement
Fastlink and Visa International have signed today an agreement, under which Fastlink customers will be able to pay their monthly bills or recharge their pre-paid cards electronically and through their mobile phones. The new system serves both monthly subscription and pre-paid customers, who can save time and effort by using their mobile phone to pay their phone bills and recharge their pre-paid credit.
UAE stocks, profit taking
Speculators who racked up profits in the past few weeks on the UAE bourse have been taking some profits this week, said analysts. However, the UAE stock market is still viewed as undervalued with a price to earnings ratio of 12 and yield of four per cent.
HSBC, Sheikh Zayed Road CSU
HSBC has opened a new Customer Service Unit in the Al Attar Business Centre on Sheikh Zayed Road in Dubai which is staffed seven days a week from 10am to 8pm, and includes a mortgage department. The unit will allow customers to apply for new accounts, loans, credit cards and chequebooks. An ATM is located at the unit.
CBD, marriage savings plan
The Commercial Bank of Dubai has launched a marriage savings plan called Zawaj, the first of its kind in the UAE with 100 per cent capital protection. There is also a loan facility that allows customers to borrow up to USD27,000 over five years.
NBD launches Auto Loan
National Bank of Dubai announced the official launch of the NBD Auto Loan. The NBD Auto Loan offers competitive rates starting from 3.70 per cent, zero per cent down payment, and a free one year Gold RAC membership.
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