Arab Bank of Investment & Foreign Trade PSC (hereinafter referred to as “AL MASRAF”,“the Bank”, “we” or “us” ) and the Cardholder (hereinafter referred to as “you”, “your” or “customer” ).

• A1.1 The AL MASRAF Rewards Program is offered exclusively to all AL MASRAF MasterCard Cardholders (“Cardholder”), The AL MASRAF Rewards Program rewards the Cardholder for using their AL MASRAF Cards in accordance with the terms and conditions hereafter. No special enrolment or fees are required although the Bank solely reserves the right to introduce an enrolment fee at any time.


• 1.2. Cardholders wherever used herein shall mean AL MASRAF MasterCard Cardholders who are enrolled in the AL MASRAF Rewards Program.


• 1.3. The Cardholder shall be eligible for AL MASRAF Rewards ‘Al Masraf Points’ subject to these Terms and Conditions hereinafter.

• 1.4.1. AL MASRAF Rewards is defined as ‘Al Masraf Points’ accrued via retail transactions performed on the Card that are categorized as eligible in the Bank’s sole discretion from time to time.


• 1.4.2. The Bank may vary the fees and charges applicable to the AL MASRAF Rewards Program at its sole discretion from time to time.


• 1.4.3. The AL MASRAF ‘Al Masraf Points’ shall be accrued by crediting the Cardholder’s AL MASRAF Rewards Program account with AL MASRAF ‘Al Masraf Points’ earned by the Cardholder. No cheques or cash will be issued by the Bank as part of this AL MASRAF Rewards Program.

• 1.5.1. In order to qualify for AL MASRAF Rewards, the Cardholder should have paid the Card annual membership fee (if applicable) and comply with the rest of the Credit Card Terms and Conditions as set out by the Bank.


• 1.5.2. The AL MASRAF Rewards Program allows the Cardholder to be eligible for AL MASRAF Rewards Points on all retail purchase transactions.


• 1.5.3. However, a particular transaction shall not be deemed to be termed as an eligible retail purchase transaction if the same is accrued as a result of the following:

a) All Card fees and charges

b) Card annual fees, membership fees or renewal fees

c) Balance transfer

d) Balance transfer processing fee (if charged)

e) Card to Account Transfer

f) Card to Account Transfer processing fee (if charged)

g) Card Finance charges

h) Quasi Cash transactions.

i) All/Any other fees and charges that are levied by the Bank and, or specified as, ineligible transactions by the Bank from time to time, at its sole discretion

• 1.5.4. The Bank may, at its sole discretion and without prior notice to the Cardholder, add to, or remove from, the above list of ineligible transactions and charges. The Bank’s decision as to what constitutes an eligible transaction shall be final and conclusive.

• 1.6.1. A Cardholder becomes eligible for AL MASRAF Rewards ‘Al Masraf Points’ as per the promotional schemes and eligibility criteria set forth by the Bank from time to time.


• 1.6.2. The Bank reserves the right to alter, amend and change the AL MASRAF Rewards Program eligibility criteria at any time without prior notification to the Cardholder.


• 1.6.3. The Bank reserves the right, at any time and without prior notice to the Cardholder, to change the ratio between a) the AL MASRAF Rewards ‘Al Masraf Points’ to be awarded and b) the specified amount charged to the Cardholder’s credit card.

• 1.7.1. AL MASRAF Rewards Bonus ‘Al Masraf Points’ can be awarded to a Cardholder for particular promotions and offers as specified by the Bank from time to time.


• 1.7.2. AL MASRAF Rewards Bonus ‘Al Masraf Points’ can be awarded to the Cardholder upon successful activation and usage of the card at the Bank’s sole discretion.


• 1.7.3. AL MASRAF Rewards Bonus ‘Al Masraf Points’ will be calculated on the basis of transactions billed to the Card Statement of Account for a particular billing month.


• 1.7.4. The Bank can, from time to time, also award additional bonus ‘Al Masraf Points’ to Cardholders at its discretion, intimated by prior notification to the Cardholder by accepted modes of communication that shall be decided by the Bank from time to time.

• 1.8.1. AL MASRAF Rewards ‘Al Masraf Points’ shall be redeemed online at https://rewards.almasraf.ae.The value of AL MASRAF Rewards ‘Al Masraf Points’ earned can only be redeemed for the valid redemption options offered on the AL MASRAF Rewards Website as defined by the Bank at the point of redemption. This may include, but may not be limited to, the purchase of air tickets, hotel bookings, car hire, or other services offered on the AL MASRAF Rewards Website as well as availing the option to redeem for a Cash Back amount to the credit card as defined by the Bank. The redemption amount requested by the Cardholder is to be within the amount of AL MASRAF Rewards Points that the Cardholder has already accumulated as part of the program. No cheques or cash will be issued by the Bank as part of the AL MASRAF Rewards Program. The Bank may link with reward partners with whom you may use you reward points. The Bank’s selected reward partners may change at any time without notice.


• 1.8.2. Once the redemption request is accepted by the Bank, redemption requests under the AL MASRAF Rewards Program cannot be amended, cancelled or revoked. Redeemed ‘Al Masraf Points’ cannot be reinstated.


• 1.8.3. The Cardholder may only redeem those AL MASRAF Rewards ‘Al Masraf Points’ registered and credited to the Cardholder’s credit card account at the time of making the redemption. The records of the Bank shall be conclusive evidence in respect of the number of ‘Al Masraf Points’ registered and credited to the Cardholder’s credit card account.


• 1.8.4. All redeemed AL MASRAF Rewards ‘Al Masraf Points’ - shall be deemed as a benefit made by the Bank to the Cardholder. However, such benefit made exclusively as part of the AL MASRAF Rewards Program offered by the Bank in accordance with these Terms and Conditions, and the same does not in any way create a liability or obligation on the Bank in that regard.


• 1.8.5. AL MASRAF Rewards ‘Al Masraf Points’ are valid for a period of 36 months from the date of accrual. The ‘Al Masraf Points’ so accrued will have to be redeemed within the first 36 months of such accrual. In case the Cardholder does not redeem the accrued ‘Al Masraf Points’ then the points shall expire and the Bank reserves its right to remove the ‘Al Masraf Points’ from the Cardholder’s AL MASRAF Rewards Program account without prior notification to the Cardholder.


• 1.8.6. The AL MASRAF Rewards ‘Al Masraf Points’ accrued/redeemed by the Cardholder shall be narrated in the Statement of Rewards Account for a particular billing month (during which time the Cardholder may have availed of the AL MASRAF Rewards Program).


• 1.8.7. AL MASRAF Rewards ‘Al Masraf Points’ cannot be transferred, assigned or carried on to any other Card offered by the Bank or to any other person or a corporate entity either by operation of law or otherwise.

• 1.9.1. The Cardholder shall participate in the AL MASRAF Rewards Program in good faith with genuine intentions. Any fraud, misuse, illegal use or abuse of the AL MASRAF Rewards program may result in the forfeiture of the program. The Bank reserves the right without notice to cancel the Card as well as cancel/nullify all the AL MASRAF Rewards ‘Al Masraf Points’ accumulated in case of an eventuality of fraud, illegal use or abuse of the AL MASRAF Rewards Program.


• 1.9.2. The Bank may from time to time without notice alter, vary, change or modify the Terms and Conditions related to the AL MASRAF Rewards Program as well as the accrual and redemption matrices of the AL MASRAF Rewards Program without prior intimation to the Cardholder.


• 1.9.3. The Cardholder should maintain their Credit Card account in good order with the Bank in order to remain eligible for inclusion within the program (including both the accrual and redemption of AL MASRAF Rewards ’Al Masraf Points’). The Cardholder’s account must be in good standing, valid (meaning not cancelled or terminated) and current (meaning there are no past due balances on the account) to be eligible for redemption of AL MASRAF Rewards ‘Al Masraf Points’. In the event of any of the Cardholder’s accounts being blocked/suspended/overdue for any reasons whatsoever or if the Cardholder breaches these Terms and Conditions then the Bank reserves the right to suspend the operation of the AL MASRAF Rewards Program or cancel/nullify all accumulated AL MASRAF Rewards ‘Al Masraf Points’ at its sole discretion. The Bank shall not be liable to compensate the Cardholder in any way once the AL MASRAF Rewards programs has been cancelled or changed.


• 1.9.4. The AL MASRAF Rewards Program is not available for transactions intended for business or commercial use or on Transactions conducted at establishments owned by the Cardholder either wholly or in part. Any such Transactions shall automatically disqualify the Cardholder from the AL MASRAF Rewards Program and the amount of AL MASRAF Rewards ‘Al Masraf Points’ the Cardholder has already accumulated as part of the program will be forfeited and the Bank reserves the right to recover such benefits obtained by the Cardholder as a result of the Cardholder engaging in such transactions.


• 1.9.5. AL MASRAF Rewards ‘Al Masraf Points’ cannot be exchanged / swapped / bartered with any other rewards / loyalty program that the Bank may or might have offered from time to time.


• 1.9.6. AL MASRAF has no responsibility for the delivery, standard, or quality of any rewards received or supplied by its rewards partners. All rewards are subject to the applicable rules and terms and conditions of the rewards partners. Any disputes or claims regarding rewards are directly between the Cardholder and the rewards partner. Any disputes regarding delivery, service, suitability, merchantability, availability or quality of the products/services must be addressed in writing by the Cardholder directly to the rewards partner and the Bank shall not entertain any communication in this regard.


• 1.9.7 The Bank is entitled, at any time and without any prior notice or liability to the Cardholder in any manner whatsoever, to terminate AL MASRAF Rewards Program and/or cancel and/or vary its benefits or features, and/or vary, add to or delete any of the terms and conditions outlined herein, and/or withdraw or change the participants of AL MASRAF Rewards Program and/or the manner of their redemption even though any of such acts may diminish the value of the AL MASRAF Rewards ‘Al Masraf Points’ already accumulated.

  o Credit Card & Al Masraf Rewards account being active

  o Annual Fee being paid



• 1.9.8 ‘Al Masraf Points’ as above are awarded based on the credit card usage within or outside UAE for all retail purchase except card usage on Govt. & Utilities merchants where 0.5 ‘Al Masraf Points’ per US$1 (or equivalent) will be awarded for any card transaction done on government & utilities Merchant Categories as defined by MasterCard & VISA.


• 1.9.9 Cash withdrawals & Exchange house transactions are not applicable for issuance of ‘Al Masraf Points’.


• 1.9.9.1 ‘Al Masraf Points’ will only be credited subject to Al Masraf Rewards account being active. It is customer’s responsibility to ensure that both credit card & al Masraf Rewards Account is activated to earn the ‘Al Masraf Points’. No ‘Al Masraf Points’ will be accumulated if the credit card & Al Masraf Rewards Account is not active.


• 1.9.9.2 Bonus Annual Spend based ‘Al Masraf Points’ as above are awarded based on the total retail purchase done using Al Masraf Credit Card in 12 months from the date of Al Masraf Rewards Account activation


• 1.9.9.3 All retail purchases including domestic, international, Govt. & Utilities will be considered for calculating Bonus Annual spend based ‘Al Masraf Points’ at the end of each card cycle year. Bonus Annual Spend based ‘Al Masraf Points’ will be credited subject to Al Masraf Rewards account being active.


• 1.9.10 The bank reserves the right, at any time and without prior notice to the cardholder, to change the applied policies and that Al Masraf Terms and condition apply.