ADCB and Al Fardan Exchange sign distribution agreement

05 January 2012

Al Fardan Exchange will distribute EMSA and MSDA across the UAE

Abu Dhabi, 5 January, 2012: Abu Dhabi Commercial Bank ("ADCB") has signed an agreement with Al Fardan Exchange at ADCB's head office to distribute both ADCB's accounts, the Emirati Millionaire Savings Account (EMSA) and the Millionaire Destiny Savings Account (MDSA).

The partnership aims to exceed customers' expectations in addition to raising awareness of the unique prize draws based products available in the UAE. The objective of this partnership is to expand ADCB's products accessibility within the UAE and to encourage the savings culture among UAE Nationals and expatriates residing in the country. The bank offers millions of Dirhams cash awards and other valuable prizes as incentives to attain its goal.

On this occasion, Amr Al Menhali, Head of Islamic Banking at ADCB, said: "MDSA has become a very popular account in the UAE. With over 45,000 customers, MDSA has exceeded our sales expectations". Our new prize based product, EMSA was recently launched exclusively for UAE nationals; Within a short span of only two months, more than 1400 customers have already opened EMSA. I believe that the main reason behind the success of these products is the transparency of ADCB. Now, with maintaining and expanding our long term relationship with Al Fardan Exchange, ADCB is expecting to generate more sales." Amr added.

Commenting on Al Fardan alliance with ADCB, Osama Hamza Al Rahma, General Manager of Al Fardan Exchange, said: "Al Fardan is proud to be associated with ADCB, one of the leading banks in the UAE. We have a sustained relationship with ADCB for more than 20 years. With Al Fardan's 40 existing branches in the UAE as well as its advanced technology along with the good sales team, this partnership is an added value to the sale of the products. This is only a start as we look forward to having a mutually beneficial long term relationship with ADCB."