Red Crescent signs MOU with ADCB

10 June 2009

Abu Dhabi, 10 June 2009: Red Crescent and "ADCB Meethaq", the Islamic Banking Department of ADCB announced today their tie up towards the launch of "ADCB Meethaq Islamic Credit Card"; the first of its kind in UAE with an objective to promote Social Responsibility. The signing ceremony held recently in the ADCB head office was attended by Mr. Ala'a Eraiqat, CEO of ADCB and H.E. Saleh Mohammad Al Mulla, Secretary General, Red Crescent and other senior delegates from both Institutions.

ADCB Meethaq since its inception in September 2008 has positioned itself around responsible banking through transparent Shari'ah compliance, solid values and a rounded belief in contributing to the greater good of our society.

With its highly anticipated product "the Islamic Credit Card", ADCB Meethaq has strengthened its ideology by positioning its Islamic credit card as a Socially Responsible Card by tying up with Red Crescent. The Proposition articulates that every card taken by a customer will secure a contribution to Red Crescent. Moreover each transaction made on the card will also render a contribution which will be given to Red Crescent. The unique aspect of this proposition is that all donations would be given by ADCB Meethaq from its own profit without any deduction from the cardholder's account.

"ADCB Meethaq's promise to its customers is to ensure their banking experience remains at the highest level of quality, service and convenience while assuring the comfort of full Shari'ah compliance." Mr. Ala'a Eraiqat, CEO of ADCB said.

This offer makes ADCB Meethaq credit card the most powerful and complete credit card in the UAE. ADCB and Red Crescent would explore further avenues to strengthen the proposition through this partnership in future.

On his part, H.E. Saleh Mohammad Al Mulla, Secretary General, Red Crescent expressed his keenness towards this strategic partnership with ADCB to launch this innovative Islamic Credit Card, which represents another milestone in the strong relationship between both entities fulfilling their role in the community.