Ratio Magazine :: The Inside Track to East Africa’s Economies - EAC Regional: Press Releases: Zain Subsidises Rates for Gulf Africa Bank Customers

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EAC Regional: Press Releases: Zain Subsidises Rates for Gulf Africa Bank Customers

Wednesday, 26 November 2008

26 November 2008 --- In a deal that was signed today, Gulf African Bank customers will receive free sim cards and also enjoy free ultra-modern handsets subject to the tariff plan they select. The offer will apply to new Gulf African Bank customers both for prepaid and post paid plans.

Speaking during the launch, Zain Kenya Managing Director Mr. Rene Meza said the partnership would enable Gulf African Bank customers stay in touch with friends and relatives in the Middle East and East Africa region especially during the forthcoming Hajj festivities on Zain’s unique “One Network” at local rates.

Following the agreement Gulf African Bank customers on the prepaid plan will be entitled to a free sim card and a bonus KES50 airtime upon spending the first KES100 airtime. The bank’s customers signing up on the post paid plan will receive free high-end Nokia handsets together with a free sim card.

Mr. Meza further disclosed that the agreement will facilitate easy and faster payment of bills for Gulf Bank’s post paid customers. “Post paid customers will sign a direct debit form authorising the bank to automatically debit their accounts and forward the money to Zain directly,” he said.

The post paid services will be open to Gulf African Bank customers who open an account with a minimum deposit ranging from KES30,000 to KES50,000. The bank’s customers will also access the internet through Zain’s unlimited package. Zain has also subsidised the cost of the modems.

Gulf Bank CEO Najmul Hassan said his organisation had chosen Zain as a strategic partner due to the mobile phone company’s presence in 22 countries in Africa and the Middle East. “Gulf African bank has a strong presence internationally and we are confident that the “One Network” platform provided by Zain will be instrumental in our business model,” Mr. Hassan said.

The Gulf Africa bank entered the Kenyan market early this year and has branches in Nairobi, Mombasa and Garissa. The bank, whose services are based on Islamic principles, is the first fully Shariah compliant bank in Kenya.

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