Three UAE firms scoop awards at Prepaid

April 7, 2014 12:51 pm

Emirates NBD, Majid Al Futtaim Finance and Commercial Bank of Dubai went home with top awards at the fifth edition of the Prepaid Summit: Middle East in Dubai last month, according to Douglas Blakey, Group Editor, Consumer Finance, Timetric.

Meanwhile, regional players bagged the remaining categories, with the top award for Prepaid Innovation of the Year picked up by Kuwait Finance House, the Kuwait City headquartered bank, for its first of its kind in MENA, clever use of a Visa prepaid card with “Tap ‘N’ Go” technology that allows person-to-person payment.

Dr Ashraf Gamal of Egypt’s Post Office was awarded the prize for best individual contribution to the industry for development across a comprehensive range of postal products, as well as launching a range of new Visa prepaid cards.

The Editor’s Special Award was given to Commercial Bank of Dubai, while Al Barid Bank collected the Cards International Award for Financial Inclusion.

Looking at the progress of the sector, Francesco Burelli, partner at Value Partners and Prepaid Award judge, said that in five years Prepaid Card Awards Middle East has become a point of reference for the industry and the most authoritative recognition of industry excellence.

“The awards ceremony is a celebration for the industry in the Middle East and North Africa at the conclusion of an insightful conference,” he said.

Echoing his sentiments fellow judge David Parker, director of Polymath Consulting, a prepaid card and emerging payments specialist, noted that the awards went to some very worthy winners.

“Studying easy access, transparent money management platforms, timing investment decisions and understanding your consumer all contribute towards the success of this sector, and the awards aim to highlight such contributions,” Blakey concluded.

The one day conference, sponsored by Visa, one of the world’s leading electronic payments networks, attracted over 150 delegates and also featured an award ceremony that recognised prepaid sector developments made and performance achieved over the past 12 months with specific selection criteria for each individual award.

Full list of awards, nominations and winners:

Prepaid Innovation of the Year
Kuwait Finance House

Prepaid Marketing Campaign of the Year
Emirates NBD

Open Loop Prepaid Card Programme of the Year
C3 Card

Gift/Incentive Card Open and Closed Loop Programme of the Year
National Bank of Abu Dhabi

Industry Partner/Vendor of the Year
Majid Al Futtaim Finance

Alternative/Emerging Prepaid Payment Solution
Bank Med

Industry Contributor – Individual
Dr Ashraf Gamal, Egyptian Post Office

Industry Contributor – Organisation
Jordan Kuwait Bank

Editor’s Special Award
Commercial Bank of Dubai

Cards International Award for Financial Inclusion
Al Barid Bank

Media contact:

Samer Abu Ghazale
Strategic Solutions
+971 55 777 6688