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News Article

01 August 2006

MasterCard Honours ADCB for Payments Excellence

Abu Dhabi, August 1, 2006:Abu Dhabi Commercial Bank (ADCB) announced today that it has been awarded the MasterCard “Product Award” which recognizes excellence in card product innovation and operation in a variety of categories such as Debit Cards, PayPass, consumer credit and corporate payment solutions.

The Product Awards were presented during the MasterCard Asia Pacific Middle East and Africa (APMEA) Product Forum, which was held in Hong Kong earlier this month. During the awards ceremony, MasterCard presented ADCB with the MasterCard Silver Product Award for its Smart Debit Program which was launched in January 2005.
Eirvin Knox, CEO of Abu Dhabi Commercial Bank said ‘We are pleased to receive this award which complements many other awards given to ADCB by various highly respected financial sector specialists in acknowledgement of its pioneering and leadership role in serving banking industry in the UAE’, and added ‘Recently, ADCB achieved the Euromoney award for excellence 2006 as the “Best Middle Easter Borrower” in recognition of its EMTN programme. ADCB was also awarded the ‘Best Local Currency FX Trading Bank in UAE’ prize by the same magazine. On another aspect, Global Finance magazine awarded ADCB the Best Investment Bank 2006 prize’. ‘These awards validate our efforts towards creating best practice standards, strengthening stakeholders’ confidence and maintaining high performance levels’, concluded Knox.

Alaa Eraiqat, Head- UAE Banking Group, ADCB said ‘We have started a process of product innovation to meet all our valued customers’ financial needs’, and added ‘ The wining product, ADCB Smart Debit Card is an ATM and Debit Card in one, packed with a whole host of cardholder benefits that enhance their lifestyle and save them money. The most promnent features of this card comprise a cash rebate of 0.25% on every retail purchase made with the card, credited directly to the customer’s bank account every month and double cash rebate on every purchase made overseas. The benefits also include exclusive value-added offers and discounts for ADCB Smart Debit Cardholders at selected merchant outlets; added security features, utilizing the latest Chip Card technology; 24 hours cash access all over the world with no annual card fee, to state a few’ and concluded ‘The award came as a testament to the overall satisfaction of our clients with our services and products’.

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