Bahrain based BankMuscat International (BMI) today announced the acquisition of Diners Club Bahrain from Orient 1. Diners Club, a premium brand card issuing and acquiring business currently services local merchants as well as affluent customers residing in Bahrain.
Announcing this strategic development, Andrew Bainbridge, Chief Executive Officer of BMI said:
“I am delighted that we are acquiring the Diners franchise for Bahrain. Diners is a prestigious brand and an offering that gives important additional benefits to our customers. In addition, this acquisition adds an acquiring capability to our business, enabling us to further deepen relationships with many of our commercial customers. We intend to invest further in the brand and the services as part of our ambition to provide great products and service to all of the residents of Bahrain.”
Diners Club was the first independent credit card company in the world, launched in 1950. In addition to worldwide acceptance and cash advances at over 12 million locations in over 200 countries, Diners Club affords the affluent cardholder with extra amenities including access to 85 Club airport lounges around the globe, 24 hour emergency card replacement, customer service as well as hotel reservations and a comprehensive range of insurance options amongst others.
“BMI’s card portfolio in Bahrain has been growing at a fast pace, as evidenced by our solid performance in the first quarter where we acquired more new customers than in the full-year 2007. The addition of Diners Club to our suite of card offerings will allow us to better serve our most affluent clients. Positioned alongside our other market-leading cards, Diners Club will give customers more benefits and value to suit their lifestyle. This will include access to Airport Lounges and travel services, as well as a host of global offers. Through our enhanced distribution capability and customer-focused team of people we will invest in and grow this exciting business.” added Rob Giles, Head of Cards at BMI.
BMI currently offers its customers a range of retail products and services including SME Banking, Mortgage, Consumer and Vehicle Loans, Credit cards, savings and current accounts with plans to shortly launch Visa Electron Cards.
About BankMuscat International (BMI)
BMI, set up in January 2005, is a Retail Bank, registered in Bahrain and regulated by the Central Bank of Bahrain and offers all retail and commercial banking activities. BMI has been set up in association with some of the strongest and most respected financial institutions from across the GCC region including BankMuscat SAOG (Oman), Royal Court Affairs (Oman), Overseas Investment (Bahrain), Istithmar World Capital (UAE) and Global Investment House (Kuwait). BMI was set up with a vision to become a dynamic regional bank providing innovative and unique financial solutions. BMI recently received its license to open its first overseas branch in Qatar and to operate an offshore bank in Seychelles.
