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Innovation around the World

Middle East

Citi enhances its presence in the Middle East

The challenge:
To grow our business in the Middle East by providing a wider product base.

The innovation:
Citi has been growing rapidly in the Middle East region and one of the ways it has done this is through its prepaid card offering. Citi was the first foreign bank to roll out Corporate Prepaid Cards in the UAE. There has also been a heavy focus on the Islamic finance segment which is growing rapidly in the Middle East. Citi has developed a wide range of Islamic capabilities such as the launch of Islamic deposits taking place in the UAE and Jordan.

E-Statements have also been rolled out in 5 countries in the region, and in terms of cheques Citi can electronically issue Paylink cheques in Arabic (Jordan) and Corporate cheques (UAE). To cater for the regions high trade volumes in Oil, Citi offers a range of structured trade services and financing solutions around various Oil flows.

The result:
A broader product offering in a core region with particular focus on widening the Islamic Finance offerings given the region predominantly consists of Muslim Nations.