Ahli United Bank launches first EMV-Compliant, Secure Chip- enabled Credit Card in Bahrain

Manama-Bahrain-January 15, 2007

Ahli United Bank, the region’s award winning bank, has again scored a first for the Bahrain market by launching the EMV-Compliant Chip-enabled credit cards. The announcement was made at a press briefing held today by Mr. Abdulla Al Raeesi, Deputy Group Chief Executive Officer, Ahli United Bank (AUB). Also present at the briefing, on behalf of Mr. Rasool Hujair – Chief Executive Officer, was Mr. Martin Williamson, Head of Business Development, Arab Financial Services (AFS).

The EMV- Compliant chip enabled credit cards, also called smart chip credit cards, are the next generation of credit cards and offer the card holder added security. The smart chip embedded in the card carries data that ensures that the card can only be used by the cardholder.

“The launch of the smart chip credit cards is a reflection of the Bank’s strategy to provide its customers with value-added products and services. Our credit card holders will now be better protected against credit card fraud.” Mr. Al Raeesi said.

“AUB credit cards now offer a range of unique benefits. We have just signed an agreement with Emirates Airlines to offer our credit card holders a 12% discount on tickets purchased for the card holder and his family. Besides this, AUB credit cards are the only credit cards that offer comprehensive travel insurance including emergency medical insurance,” he added.

“The EMV compliant chip enabled credit card is the latest in card technology. Once all retail outlets have point-of-sale machines that can read the smart chip, all credit card transactions will need the cardholder to enter a PIN number, thereby greatly reducing the risk of fraud.”, said Mr. Williamson. “We are proud to have partnered with AUB in launching this technology in Bahrain.” he added.

Smart chip technology is gaining worldwide acceptance and soon all credit card transactions across the world would need the cards to be EMV compliant. Ahli United Bank will issue smart chip cards for VISA and MasterCard gold and classic credit cards. AUB will start replacing all existing credit cards with the new smart chip cards automatically going forward. Till such time the existing credit cards can be used as before.