Abu Dhabi, United Arab Emirates, 3rd  September 2007- Al Masraf, the new brand name for Arab Bank for Investment & Foreign Trade was formally unveiled today to replace the 33-year-old ARBIFT, one of the oldest banking brands in the UAE. The move represents a significant milestone in the bank’s history and further signifies its premiere position in the UAE and the region.  

“Leveraging on our position as the only commercial bank in UAE which is owned by the Federal Government, we are operating in one of the most competitive markets in the world. It is important that every part of our output evolves and innovates to keep pace with our audience. Al Masraf re-brand is a result of an extensive study conducted by the bank that showed the necessity to create a current, modern business image that keeps up with the demands of a dynamic market environment,” said Ibrahim Nasser Rashid Majed Lootah, Director and General Manager of the newly re-branded Al Masraf. “The new brand will increase competitiveness and improves links between the brand and the bank’s products and services, achieving greater communications and transparency as well as emphasizing the bank’s leading position in the regional market.” 

Ahmad Majed Lootah, Head of Personal Banking Division & Brand Director, Al Masraf said: “The re-brand program aims at strengthening and standardizing the corporate image of the bank as a leading pan Arab bank specialized in investment and foreign trade as well as corporate and personal banking. We have been driving a fundamental shift that begins with the launch of this new brand which will simplify and unify the look and feel across our services and products in an effort to better communicate important characteristics and values to our stakeholders including individual customers. With our dedication to our customers and our understanding of the challenging financial world, we set forth in our stride to serve the bank’s audience under the new slogan “One Nation, One Bank”.”

With the introduction of the new brand name, Al Masraf believes that the new brand will differentiate it from its peers and help further communicate the broadest level of professionalism in its operations. In changing the brand, Al Masraf leverage on the historical legacy of ARBIFT to cope with the competitive and modern business direction. The corporate brand change has shown other various advantages as it won’t only strengthen the reputation of the bank, but also lift its value to compete more successfully in different markets. In the long-term, the brand provides an added value for new innovative banking products, fosters the development of partnerships, thus enhancing people’s loyalty and serving as a symbol of quality, trustworthiness, and credibility for customers.

“Capitalizing on more than 33 years of offering world class banking services, the Al Masraf brand better positions our wide array of services. We aim to be one of the most valuable brands in the Arab world, and we intend to grow its value as we evolve our operations,” added Ibrahim Nasser Lootah. “While attaining a unique position within the regional banking sector, we have established steadfast banking relations and a strong network with highly internationally reputable organizations. The new brand will allow us to be better recognized for our contributions and strengthen our overall position in the marketplace.”

The re-branding also reflects changes in the global and regional banking industry and the way banking services are offered to businesses and individuals alike. It is intended to help Al Masraf leverage the potential of the re-branding and meeting rapidly changing market requirements.

The new corporate identity is represented through the Trade mark “Al MASRAF” in Arabic and English presented in a specially blended blue color arranged vertically and separated by a golden yellow line and the circular shape with Arabesque links circling the Cinquefoil in golden yellow color with a blue background logo. 

The golden yellow links circling the Cinquefoil conveys unity, collaboration for knowledge and prosperity. Also, it represents a coordinated system of people, activities, information and resources working together towards the goal of delivering a product or service to the client while the series of links symbolize the unified leadership of the bank.

Ahmad Majed Lootah added: “There is a marketing misunderstanding in the region that brand is about logo, stationary and corporate colors. Our re-brand campaign encompasses everything from customer perception and experience to quality, look and feel, customer care, retail and web environments. The multicolored combination of the logo will play a significant role in enhancing the bank’s corporate identity and image through creating further communicating to our internal and external audience. Introducing Al Masraf brand today crowns a series of significant initiatives including redesigning and deploying a bank-wide corporate network, migrating towards a better advanced core banking system and widening the scope of re-structuring to cover all our operations as well as starting to diversify our delivery channels for internet, phone and mobile banking.”

The multi-million dirham re-branding program reflecting Al Masraf innovative way of thinking about what they can offer businesses and how they work with their customers includes an extensive advertising campaign using print and outdoors media as well as a completely revamped trade mark, slogan, website and collateral program.

Ibrahim Nasser Lootah concluded: “The new re-branding program coincides with our attempt to adopt latest corporate governance practices as well as creating a stimulating environment, through reforming our institutional framework, and strengthening the bank’s infrastructure, notably the information systems, customer relationship initiatives, and accounting and audit operations. This will result in enhancing interaction with all sorts of businesses and individuals alike. Also, with the official introduction of Al Masraf personal banking products and services, the bank is making rapid strides towards enhancing its position in the regional map.”