Abu Dhabi Islamic Bank (ADIB), the country's second-largest Sharia-compliant lender, has a new game plan to capture business from the football-mad UAE. The bank has signed a sponsorship deal to become an official partner of the UAE Football League (UFL). "ADIB's UFL sponsorship demonstrates our intent to reach our customers throughout the UAE and to deliver a unique value proposition that is relevant to them as passionate and loyal football fans," said Petr Klimes, the senior vice president and group marketing director at ADIB.
Football was an important part of the bank's strategy of connecting with its core customer base and delivering new products and promotions, the bank said. Developing young UAE footballers and helping to build communities around football were other important aims the bank hoped to achieve through the deal, it said. Football fans banking with ADIB will receive a bank card bearing their club's name and will be able to support football through its use.
As a Sharia-compliant alternative to the credit card, it will offer customers different football-related privileges. "We have some exciting plans for the season ahead and look forward to working closely with ADIB to ensure the sponsorship benefits everybody, and in particular the fans across the UAE, through new consumer-focused initiatives," said Carlo Nohra, the chief executive of the UFL. ADIB last month posted a rise of more than 50 per cent in second-quarter profits as it required less provisioning for bad loans.
It reported a net profit of Dh301.6 million (US$82.1m) in the June quarter, up from Dh193.1m in the same period last year. ADIB announced this month it was suspending all customer payment instalments for Ramadan. @Email:firstname.lastname@example.org