Banking

Standard Chartered’s Titanium MasterCard Credit Card wins ‘Best New Credit Card in the Middle East’ Award

Card provides unprecedented cashback and extensive privileges


Dubai, UAE – 22 May, 2013 – Standard Chartered Bank’s MasterCard Titanium Credit Card won the “Best New Credit Card in the Middle East” award during the Cards Middle East Forum 2013. The Standard Chartered Titanium Credit Card has been recognized for offering first-in-the-market cashback incentives and privileges on the everyday spend of cardholders in the UAE.

The Standard Chartered Titanium MasterCard Credit Card which features Chip and PIN technology provides cardholders with up to 10% cash back on purchases from all supermarkets in the UAE, all utility bill payments and even school fees payments. Cardholders also get up to 50% discount on all movie ticket purchases at VOX Cinemas and various dining outlets in the UAE.

Khalid El Gibaly, Regional Head of Consumer Banking, UAE and Middle East, Standard Chartered, said:

PR Newswire

DUBAI, UAE, May 22, 2013

DUBAI, UAE, May 22, 2013 /PRNewswire/ --

HSBC Middle East has signed an exclusive 10-year agreement with Zurich Insurance Middle East to distribute its personal and commercial General Insurance products in the United Arab Emirates, with other Middle East and North Africa (MENA) markets to be considered in the future.

The agreement marks the coming together of two global leaders in their respective fields, and extends HSBC's relationship with Zurich in the region following the 10-year contract signed in April 2012 to exclusively distribute Zurich's Life Insurance products in UAE, Qatar and Bahrain.

Fresh from reports of growing need among UAE residents regarding the protection of their homes, family belongings and valuables, the agreement covers all of Zurich's General Insurance personal product lines, and allows HSBC customers to access Motor, Home Contents and Travel insurance, as well as Zurich's full suite of commercial insurance solutions.

The agreement will help to improve access and distribution of insurance products across the MENA region, which has some of the lowest insurance penetration rates in the world. Even the UAE, which has one of the highest rates in the region, stands at just 1.8% - more than three times lower than Singapore and six times lower than the UK.*

It will also enable HSBC's Retail Banking and Wealth Management (RBWM) business in MENA to build specialist expertise in General Insurance and, together with its Life Insurance expertise, provide a consistent experience to HSBC customers - many of whom already use current account and credit card services.

MUSCAT, 21 May 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, has won the ‘Best Mobile Payment Application in the Middle East’ award for its state-of-the-art mBanking mobile services. The prestigious award was received by Tariq Atiq, AGM - Cards & eBanking, at a ceremony held in Dubai as part of the Cards & Payments 2013 Middle East seminar, which is reckoned the largest cards payment and identification event in the Middle East.

Tariq Atiq said:  “Bank Muscat is proud to win the Best Mobile Payment Application in the Middle East award. The bank’s initiative to provide banking services via mobile phones complements the government's efforts in creating a digital society and providing electronic services which spell convenience to customers. Developments linked to eGovernance in Oman is the motivation behind our innovative initiatives. Bank Muscat enjoys an edge in hi-tech products and services, including electronic payment and web-based services, in tune with the banking requirements of a young, tech-savvy generation.”

Tariq Atiq added: “At Bank Muscat, we strive to innovate to provide our customers with unmatched benefits while keeping the focus on their convenience and security. This award is a recognition for the bank as a key innovator in the Middle East region and we are proud of this achievement. mBanking has recorded massive success both in terms of usage and customer adoption since it was launched and we will continue to add exciting elements to this service.”
Soon after its launch in 2012, mBanking won the coveted Sultan Qaboos Award for Excellence in e-Government in the category of the Best Public Mobile Service. For the first time, the 2012 Sultan Qaboos Award for Excellence in e-Government was opened for the private sector organisations. A total of 57 projects were presented by 30 governmental and private institutions for the awards. Of the two awards earmarked for the private sector, Bank Muscat won the Best Public Mobile Service Award.

MUSCAT, 20 May 2013 – The 2013 al Mazyona savings scheme offering a prize basket of RO 7 million from Bank Muscat celebrated the first quarterly prize draw in which 10 customers covering all the governorates, including one Priority Banking customer, received RO 50,000 each. The lucky winners who shared the RO 500,000 bonanza
were picked by customers who attended the family event at Muscat Grand Mall. A large turn-out of customers and bank officials were present at the ceremony in which entertainment and fun activities were aimed at educating people on prudent savings habits. Attractive gifts and prizes were distributed to children and winners of spot competitions on the occasion.

Customers maintaining a minimum balance of RO 1000 for 3 months get a chance to win the big prize of RO 50,000 during the quarters ending March, June and September. The longer the saving, higher the chances to win.

Said Al Badai, DGM – Branches, said: “The series of big prizes from Bank Muscat is the major attraction of al Mazyona which offers fair and transparent winning chances for all segments of customers. al Mazyona reaffirms the bank's vision and constant efforts to fulfill the aspirations and ambitions of the largest banking family in Oman. The flagship savings scheme has won the hearts of people and succeeded in linking to various issues benefitting society. The bank attaches great importance to inculcating prudent savings and spending habits and has tailored al Mazyona scheme with this objective in mind.”

Associated with Directorate General of Health Services, North Batinah Region to increase awareness of Immunization

Muscat | May 20, 2013:  Reinforcing their commitment to health related initiatives, Bank Sohar partnered with the Directorate General of Health Services in organising an immunization drive in the North Batinah Region.
Health plays a very important role in the every person's life and the Ministry of Health have been constantly involved in conducting a varied number of events and activities to spread awareness and encourage good health among the people. Bank Sohar partnered with the Directorate General of Health Services in the North Batinah region to raise awareness about the benefits of immunization and how important it is, for the development of children.
“Since the inception of Bank Sohar, we have been active in supporting the initiatives of the Ministry of Health, organised and participated in the events that highlighted the need for healthcare and encouraged a healthy lifestyle,” said Mr. R. Narasimhan, DGM & Head of Retail Banking at Bank Sohar.
He also added, “Immunization protects against several dangerous diseases. A child who is not immunized is more likely to become undernourished or be affected by ailments. The drive saw participation from members of the public as well as Health Sector representatives and was an excellent platform for Bank Sohar to demonstrate our dedication towards the cause.”

Muscat, May 20th 2013 – Experts and senior analysts from HSBC discussed how China’s businesses and Renminbi currency (RMB) are playing an increasingly important role in world trade during a seminar organized for HSBC Bank Oman’s corporate clients. The event explored the developing trend and what it means for companies in Oman.
Globally, the use of RMB has been increasing since 2009, when China launched a pilot programme to internationalise its currency by allowing the RMB to be used to settle cross-border trade. Since then, China's trading partners have increasingly been able to use the RMB when paying for imports or receiving payments for exports.
There are more than 30 markets worldwide conducting over 10% of their business with China in RMB, and the RMB cross-border capital flows have also taken off. RMB FDI almost tripled in 2012, and RMB ODI surged by 50%. In parallel, RMB investment opportunities are opening up all around the world – supported by thriving offshore markets that are expanding offshore hedging, fundraising and other financing needs denominated in RMB.
Iain Morrison, Head of Commercial Banking for HSBC Bank Oman S.A.O.G, explained that HSBC is capable of providing its corporate clients in Oman with unmatched industry analysis and insights as a result of the Group’s long standing experience and international footprint.
He added: “The Renminbi has become part of everyday business for anyone trading with or investing in China. It is already an important global trading currency and is set to become a top three global trading currency by 2015. HSBC Bank Oman is in a position to help businesses and investors in the Sultanate seize this opportunity through a comprehensive suite of Renminbi-denominated products that are available onshore on the Chinese mainland and in offshore markets worldwide. These trades can be made with no restrictions from Chinese regulators.”

Dubai, May 20, 2013: Visa Inc., one of the world’s leading payment solutions providers, today announced the launch of an in-depth study of the rapidly-growing e-commerce market across the Middle East and North Africa [MENA] region. The data has been provided by the UK body for e-Retail, the Interactive Media in Retail Group (IMRG), supported by commentary from the International Omni Retailing Members Association (IORMA) and Dubai-based online shopping mall Tejuri.com.

The comprehensive study, part of Visa’s ongoing e-commerce drive, is the first-of-its-kind report in the region that provides a worldwide comparison of key markets and is set to play a major part in benchmarking the e-commerce performance and the future growth potential across MENA. Based on 2012 data, this 2013 IMRG report reveals that the MENA region represents the fastest growing e-commerce region worldwide with an estimated 45% year-on-year increase [USD10bn in 2011 to USD15bn in 2012].

A lack of available information and market data has prevented businesses and government from effectively evaluating the potential for e-commerce growth and development in the region.  The decision to commission this report enforces Visa’s mandate to build e-commerce in the region and will identify current levels of e-commerce performance and potential by assessing the breadth of existing research undertaken in the region.

The report is available to businesses and the government to help them understand the significant trends in the region and plan their e-commerce strategies – an important area of focus as internet usage in the region has grown by a staggering 1,500 per cent since 2000, up from 1.2 million users in 2000 to 18.7 million in 2010.

Muscat, May 19, 2013: as part of their ongoing commitment to promote a balanced and healthy lifestyle, Bank Sohar recently sponsored the Health Week organized by the State Department of Health Service in Wilayat Al Mudhaibi. Bank Sohar, in partnership with the Ministry of Health, conducted the health awareness week from Monday to Friday in commemoration of the Global Health Day.

Convened under the title of ‘Health Week’, the programme was inaugurated under the auspices of Shiekh Saif Bin Saud AL Mawali, the Assistant Wali AL Mudhaibi, and included the recitation of poems, presentation about blood pressure and general health issues. Following the presentation, there were a series of activities aimed at ensuring the well being of the local residents and visitors by encouraging a healthy lifestyle with topics such as fitness, correct eating habits and how to minimize stress.

Commenting on the event Mr. R. Narasimhan, DGM & Head Retail Banking - Bank Sohar said, “It is of the utmost importance to adopt a healthy life style and strive for a proper work life balance. Events such as these help visitors learn to cope with stress, engage in healthy eating habits and also learn how to be physically active both at home and at the workplace.”

The week-long event was aimed at providing access to important health screenings and information to steer the community towards a healthy lifestyle. Over the course of the event everyone was invited to benefit from free health checkups, interactive group activities, demonstrations and informative sessions and wellness and fitness exhibition which were provided by certified medical professionals and experts in the fields.