ADCB and Habib Exchange sign Distributorship Agreement for EMSA & MSDA

06 May 2012

Abu Dhabi, 6 May, 2012: Abu Dhabi Commercial Bank ("ADCB") has signed an agreement with Habib Exchange at ADCB's head office to distribute ADCB's accounts, the Emirati Millionaire Savings Account (EMSA) and the Millionaire Destiny Savings Account (MDSA).

The objective of this partnership is to expand ADCB's products accessibility within the UAE and to encourage a 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 is ADCB's flagship prize draw based product and it is growing at a fast pace. Over 50,000 customers have already signed up for MDSA and we are glad that the customer base is growing every day. Our new prize based product, EMSA exclusively for UAE nationals is gaining momentum and more than 4,000 customers have signed up for EMSA in a short time. One of the main reasons behind the success of these products in particular and all other products in general is the trust of our customers in ADCB. We expect that sale of MDSA & EMSA will further increase as we have signed up a Distributorship Agreement with Habib Exchange Company, which is one of the oldest exchange houses in the UAE."

Commenting on Habib Exchange alliance with ADCB, Muhammad Amin Bawa, Managing Director of Habib Exchange, said: "Habib Exchange is proud to be associated with ADCB, the third largest bank in the UAE by assets. Habib Exchange has 11 branches in the UAE situated in key locations and serving thousands of clients every day. We have plans to open more branches during 2012 to serve the growing demand by our customers. We have a long term corporate relationship with ADCB and this partnership of distributing MDSA & EMSA will further strengthen this relationship."