DUBAI — With vast numbers of people in the UAE choosing to invest in gold, Rakbank has partnered with Kalyan Jewellers to launch a co-branded credit card. The Rakbank Kalyan Jewellers MasterCard credit card, which is accepted globally for purchases and cash withdrawals, is the first to offer ‘Goldback'. These are loyalty points that are earned at a rate of up to 7% and can be redeemed at any Kalyan Jewellers outlets in the UAE in the form of jewelry. To ensure customer convenience, the card also offers a 0% easy payment plan on diamond and gold jewelry purchases. “Over the years, the bank managed to transform the concept of card reward programs in the UAE through a host of unique features including the successful ‘Cashback' feature,” said Peter England, Rakbank CEO. “Staying true to the bank's prominent position as an innovative and dynamic player, today we are expanding our loyalty program with the Rakbank Kalyan Jewellers credit card to offer Goldback and we are pleased to be collaborating with Kalyan Jewellers.” Speaking at the launch event, TS Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers, said “we have always been at the forefront when it comes to introducing innovations in the jewellery industry. The RAKBANK Kalyan Jewellers Credit Card is another example of customer-centric innovation wherein customers can harness their retail spends to acquire jewelry with Goldback points. We are delighted to partner with RAKBANK in creating this unique product and enrich customer experience.” Kalyan Jewellers, one of the largest jewelry manufacturer distributors in India, launched into the GCC region in December 2013. It currently has 9 showrooms in the UAE and 3 in Kuwait. Today, Kalyan Jewellers has a total of 77 showrooms across India. Kalyan Jewellers is one of the largest jewelry manufacturer distributors in India leveraging its strong roots, of over a century, in the business of textile trading, distribution and wholesaling. Starting with the first jewelry showroom in 1993, today, it has a total of 77 showrooms across India and West Asia, nine out of which are located in the UAE. — SG
