Masdar News

First Gulf Bank and Masdar Launch First Eco-Friendly Credit Card in the UAE

07 Jan 2013

​Major leading UAE financial institution, First Gulf Bank (FGB), will launch the UAE’s first green Visa Credit Card next week in association with Masdar, Abu Dhabi’s renewable energy company, at the sixth World Future Energy Summit during the Abu Dhabi Sustainability Week. The First Gulf Bank Masdar Card allows members of the community to become more involved in different environmentally sustainable initiatives. The product falls in line within a series of socially geared products that FGB has developed recently.

Offered in Infinite and Platinum premium categories, the new product is completely environmentally friendly and biodegradable. For every purchase made by the customer using the card, FGB will automatically contribute on behalf of the customer up to 0.6% of the transaction value towards a fund that will support environmental and sustainable projects all year round.

Furthermore, the card offers an exclusive First Green Rewards loyalty programme. The programme allows cardholders to earn up to 1.5 First Green points for every dirham spent and can be redeemed against a variety of eco-friendly products or green merchants. In addition to all these features, the card also offers infinite and platinum benefits which include complimentary premium upgrades at Ferrari World Abu Dhabi, Hilton Honors Gold Memberships, Global Airport lounge access, and global discounts at Harrods and many other features.

Commenting on the new product, Andre Sayegh, CEO of FGB said: “First Gulf Bank is proud of our partnership with Masdar. At FGB we are inspired by the great vision of our leaders to offer socially-conscious products and initiatives that meet genuine needs of the environment. At FGB we believe that every product should benefit the community and address the basic issues of health, education and financial literacy and are proud to add First Gulf Bank Masdar Credit Card to our range of innovative and environmentally- conscious products.” 

Dr. Sultan Ahmed Al Jaber, CEO of Masdar, said: “The card will enable the local community to be more engaged in contributing to the UAE’s environmental protection and sustainable development, which lies at the heart of leadership’s objectives. It is also fitting that the card will be launched at the World Future Energy Summit during the Abu Dhabi Sustainability Week, where global leaders will convene to address the challenges and opportunities facing sustainable growth.”

Marcello Baricordi, General Manager for Visa UAE: “We are delighted be part of this first of its kind initiative with First Gulf Bank and Masdar which is in line with Visa’s strategy to support eco-friendly and green initiatives across the region. This programme further reinforces the message, that spending wisely and responsibly is a great way for our customers to reap the benefits of using their Visa card and to support environmental initiatives in the UAE”.

FGB offers a wide range of unique credit cards designed to reward customers. These include the Abu Dhabi Credit Card, which awards customers through regular draws with prizes given worth over AED 6 million in 2012, the World Elite MasterCard-Credit Card offering a range of unique privileges for High Net Worth Individuals.