Dubai First Dubai UAE

Enter Dubai First - the first consumer finance company from Dubai Group. Established in April 2007 and part of diversified conglomerate, Dubai Holding, the company has already put its own unique slant on the credit cards developed to date. It has recently entered the personal loan market, and is planning to diversify into additional business lines soon.

Ravi Bhardwaj, country head, Dubai First UAE, highlights the fundamental differences between a consumer finance company and a bank. "Unlike a bank, we do not accept retail customer deposits," he explains. "Hence our main focus is on our core business - retail finance. In this way we can offer innovative products and services to the market, each unique within itself."

A list of firsts

For those with the means, such a product is the 'Royale' MasterCard - the first of its kind worldwide, issued by invitation only. With a certified diamond embedded in the centre and no preset spending limits, only nine of these hand crafted cards are made per day. Perks afforded to cardholders include preferential access to Burj Al Arab and yacht charter deals both in Dubai and around the world, as well as a slew of value added services designed to delight the high net worth consumer. "The response to 'Royale' has been very positive," observes Bhardwaj. "Since its launch in November 2007, we have had numerous requests from customers both within the UAE and overseas."

Another product, the Dubai First MasterCard, credits cardholders up to four per cent of the cash value of purchased goods - the highest cash-back in the region, claims the firm. This is supported by 'tap and go' PayPass technology where payment for goods are made by a simple tap of a card at checkout - ideal for speedy transactions at quick-service restaurants, pharmacies or cinemas. Indeed, consumer convenience appears to have become something of a trademark for the company. "Our tagline: 'You're always first', reflects our endeavour to understand our customers' unexpressed needs and tailor our offerings likewise," states Bhardwaj. "We have recently partnerewith several leading regional and international organisations to provide convenience and value to customers, who now have access to more than 300 payment points to pay their card bills." These include money exchange firms Al Ansari, UAE Exchange, Al Fardan, Al Rostamani, Redha Al Ansari, Al Ghurair and Wall Street Exchange, EPPCO/ENOC petrol stations, as well as Emirates NBD Cash Deposit Machines.

Recently, Dubai First has launched the first-of-its-kind Business Credit Card aimed at the region's burgeoning small and medium enterprises (SME). The Business Credit Card offers complete financial flexibility on three critical fronts: a flexible interest rate mechanism that offers the potential of the lowest interest rates in the industry -as low as 1.33% per month; a flexible rewards program that lets customers redeem their points for cash, business services or leisure; as well as flexible spending power with the possibility of using the card at merchants where cards are not accepted - through its dial a draft facility.

In addition to card products, Dubai First has also ventured into the personal loan segment, offering hasslefree financing solutions. Described by the company as the quickest personal loan service in the market, 'Quick Cash' also offers customers insurance protection in case of death, permanent total disablement, and loss of employment.

Surging Ahead

Certainly to date, Dubai First's achievements are much to be proud of. "In less than one year we have managed to establish brand recognition, a solid card member base, and diversified from our initial card products," enthuses Bhardwaj. "Our aim is to always keep the name of Dubai and the UAE first in the mind of our customers, and to remain at the vanguard of innovation in the field of consumer finance."

As for further growth, "Dubai First aims to become a market leader in consumer finance in the region," concludes Bhardwaj. "As part of our long-term future plans, we are looking to expand into the other business lines such as wealth management. Consumers in the UAE can look forward to many more firsts in the months and years to come."

Dubai First has spearheaded a CSR project to raise awareness on traffic safety for children, coming as part of an initiative to make a tangible commitment to corporate social responsibility (CSR) in an encouraging example of private-public partnership for a social cause calling for immediate action that also marks the successful completion of its first year in operation. Implemented in cooperation with the Roads and Transport Authority (RTA), Knowledge and Human Development Authority (KHDA), and the Emirates Driving Institute (EDI), the 'Little Steps for Safety' campaign aims to promote road safety for children in the UAE.

The first full-fledged road safety campaign to be launched by a financial services company in the UAE, the campaign is aimed at children between 6-12 years and will be implemented in two phases: in the first phase, a public awareness campaign was rolled out from mid April - May through the print media. Apart from underscoring the growing number of fatalities and debilitating injuries to children caused by traffic accidents in the UAE, the pilot phase has called for concerted action from government agencies, law enforcement personnel, schools, parents and motorists.

Ibrahim Al Ansari, CEO, Dubai First, said: "As we celebrated our company's first anniversary, it only seemed appropriate to reaffirm the commitment that we made at our launch - to always keep our customers first. This CSR programme goes a step further and includes our customers' most valuable assets - our children."

"Dubai First is conscious that children and the youth are our first and foremost stakeholders for a sustainable future. Since road safety is one of the key issues that impact our children, we aim to tackle the root cause of the problem, and reach out to the support of the RTA and KHDA to initiate strict enforcement of rules and raise awareness. I believe this is a perfect example of private-public partnership for a social cause that calls for immediate action," he concludes.

According to recent reports by UAE government authorities, 119 pedestrians were killed on the roads in 2007, 47 percent of whom were children. The World Health Organization's Global Status Report 2007 states that more than 1,000 children and young adults under the age of 25 years are killed in road traffic crashes every day.

The first phase of the campaign involved the mass distribution of Dubai First 'Little Steps for Safety' edutainment material in schools, containing information on the use of seat belts, 'Stop, Look, Listen and Think' rule, and other safety tips, as well as safety workshops during school summer camps organized by the KHDA.

The second phase will be launched at the onset of the academic year in September. In association with RTA, KHDA and other associated bodies, Dubai First will organise a series of programs including workshops and lectures to educate teachers, parents, bus drivers and children on safety measures in and around schools, as well as on the road.