NBAD launches first education credit card
Abu Dhabi, December 11, 2011
National Bank of Abu Dhabi (NBAD) said it has joined hands with global payments and technology company MasterCard and Dubai-based GEMS Education network to launch its first education credit card.
The card is co-branded with GEMS Education, the largest private education provider with 29 schools across the UAE, and offers cardholder parents with additional value and convenience when making their child’s school or day-to-day payments.
The key benefits include free credit of up to 51 days, competitive interest rates, convenient minimum payment of 5 per cent, access to cash, zero per cent easy payment plan (EPP) option, balance transfer facility and travel benefits.
Speaking at the launch, Richard Forbes, director of Marketing and Communications, said, “This collaboration builds on our commitment to pass on to our parents and students the benefits of GEMS’ long and fruitful association with reputable financial institutions like NBAD and with MasterCard.”
Eyad Al-Kourdi, vice president and country manager of UAE, MasterCard said, “We are committed to financial education around the world, which is why together with our customers; we create a range of financial programs tailored to further educate consumers on the wealth of benefits payment tools provide.”
Suvo Sarkar, the general manager of Consumer & Elite Banking at NBAD, said the novel card reflects NBAD’s practice of teaming up with the right partners and working methodically to develop a product that delivers true value for consumers.
"In addition to the financial values it offers, this card contributes to sustainability principles, instills financial responsibility in cardholders and encourages them to be proactive within their community," he added.
The benefits offered to cardholders include;
•Up to 11 per cent discount on advance payment of school tuition with zero per cent Easy Payment Plan when paid with the card,
•Education protection coverage of up to Dh500,000 per child,
•The ability to earn NBAD Stars on purchases made with the card
•Special offers at numerous leading F&B and family entertainment venues across the UAE, such as Magic Planet, Ski Dubai, Atlantis, Al Sayegh Brothers Group, Café Ceramique, Sega Republic, iFLY Dubai, and many other leading merchants.
•No annual fees
•The card also entitles them to roadside assistance and access to airport lounges in Dubai, Cairo, Kuwait City, Jeddah & Riyadh.
In line with launching the card programme, a competition was held for GEMS students to submit their own artwork, which would become the design of the card.
The panel judging the submissions selected a 9th grader’s design, which showcased artistic talent, as the face of the co-brand credit card.
The card, made from 100 per cent biodegradable material, is the first of its kind in the UAE, said a NBAD statement.-TradeArabia News Service
More Education, HR & Training Stories
- University of Ain Shams opens MS treatment unit
- Masdar Institute launches BP scholarship programme
- New 'Indian' school to open in Bahrain
- Qapco to fund 6 Qatar University projects
- CIMA unveils innovative syllabus for 2015
- 100 experts for Dubai HR summit
- J4B marks first year with Tamkeen backing
- Saudi CEOs ‘highest paid in GCC’
- UAE ministry seals Microsoft deal
- Pact signed for UAE girls students' development
- Bahrain private school to resume classes
- BIBF signs deal with Palestinian institute
- Number of Omani working women soars
- Bayt.com launches Employer of Choice Awards
- Rota interview to screen youth conference applicants
- Experts discuss ways to build talented aviation workforce
- Top e-learning experts at Dubai summit
- Top education experts win GESS awards
- Bahrainis top GCC nationals seeking Saudi jobs
- Transguard launches graduate trainee programme
- Applications invited for Bahrain scholarship
- New technology training for educators
- Mubadala tie-up promotes healthy lifestyle
- GCC education sector short of 200,000 professionals
- Rosetta Stone buys language-learning firm
- Focus on special needs education
- NIIT signs deal with Com Group
- iPads replace textbooks in 75 Saudi schools
- 250 students tour aviation training facility in Abu Dhabi
- 40 Jordanian students showcase apps, games