Dubai

Barclaycard, one of Europe's leading credit card businesses, is launching an innovative range of credit cards in partnership with Visa.

Amin Habib, Barclays managing director, UAE and GCC said the cards are being tailormade specifically for the UAE.

"We have looked hard at what UAE residents need, and designed a range of cards that suit them. Working with Visa we have re-invented the way credit cards are offered in this region," Habib was quoted as saying in The Khaleej Times.

"For the first time in the region, the customers will be able to choose the type of card they need, how much they pay, and the rewards they earn from using their cards," he said.

According to Habib, Barclaycard's entry into the UAE is based on an upbeat assessment of the region's potential.

"The UAE's economic development is continuing at an astonishing rate, and it is a financial powerhouse in the Middle East region. Increasing our presence in this market is a key strategy for our growth," he noted.

Barclaycard is part of the Barclays Group, which is rapidly expanding its global cards business.

"Increasing our exposure in emerging markets such as the Emirates is a crucial platform for realising our growth ambition," Habib added.