Dubai Islamic Bank launches loyalty program for Al Islami Credit Cards

dib_logoAl Islami Credit Card members automatically enrolled for “Wala’a Dirhams”.


In a move to enhance cardmember experience, Dubai Islamic Bank (DIB) announced today the launch of Wala’a Dirhams, the loyalty program for Al Islami Credit Cards. The easy to earn and easy to spend loyalty program allows card members to earn unlimited Wala’a Dirhams on their card transactions.

Each Wala’a Dirham is equal to AED 1 in value and card members can redeem them against utility payments such as DEWA, SEWA, Etisalat payments, E-vision and RTA Salik recharge. Card members can also redeem their Wala’a Dirhams against gift vouchers for Carrefour, Union Co-operative Society, Sharjah Cooperative Society, Abu Dhabi Cooperative Society, Home Centre, Sharaf DG, Paris Gallery as well as travel vouchers.

Platinum and Platinum Plus Card members will earn 3%, Gold and Gold Premium Card members 2% and Classic Card members will earn 1% of their spends as Wala’a Dirhams.

Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB, said: “As part of our strategy to offer unique and convenient banking solutions to our customers, we have introduced a key benefit – Wala’a Dirhams – to our Credit Card offering. This program offers customers huge savings and rewards for using their Al Islami Credit Cards. As there is no limit to the Wala’a Dirhams that can be earned, cardmembers will find this program extremely rewarding. We have also taken this opportunity to re-launch our Al Islami Credit Card, with an objective of loading it with more value and benefits to customers.”

All existing Al Islami Credit Card members are automatically enrolled into the Wala’a Dirhams programme.

Ali Rahim, Head of Retail Products, DIB, said: “The facility of paying utility bills through Wala’a Dirhams earned on their Al Islami Credit Card will result in substantial savings for our cardmembers. Additionally, we have a range of benefit options for our customers to redeem their Wala’a Dirhams. We will continue to create special benefits and rewards to serve the financial needs of our customers.”

As a special offer to co-incide with the launch of Wala’a Dirhams, DIB also announced that any customer who gets an Al Islami Credit Card will receive a free mobile phone. This offer is valid till February 28, 2009 only.

About Dubai Islamic Bank

Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIB is a public joint stock company and its share is quoted on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.

The bank reported AED 2.5 billion in net profit for the year ending December 31, 2007, rising by 60 per cent compared to AED 1.56 billion for 2006. The bank recorded total revenues of AED 7 billion for 2007, rising by 46 per cent compared to AED 4.8 billion for 2006. Total assets in 2007 reached to AED 84.3 billion, an increase of 31 per cent compared to AED 64.4 billion in 2006.

DIB set a world record by raising a US$3.52 billion sukuk for the Nakheel Group. This sukuk adopted an innovative structure never used before in Islamic or conventional banking history.

The bank has been proactive in creating partnerships and alliances at both the local and international level. DIB has adopted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIB’s ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE’s Best Islamic Bank. DIB has also received many awards from international organizations, such as the prestigious “Bank of the Year – UAE” award from The Banker magazine and additional accolades from Euromoney.

source : dubaichronicle

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