Citi signs 10-year agreement to use MasterCard network in Middle East

Citi and MasterCard have come together to sign a 10-year agreement, extending the two companies’ relationship in the Middle East region.

The deal is part of a larger international agreement between Citigroup and MasterCard, which was announced earlier this year.

The agreement will see Citi continue to use the MasterCard network for consumer credit and debit issuing in the UAE and Bahraini markets, meaning Citi customers will continue to have the familiar MasterCard logo on their debit and credit cards.

Dinesh Sharma, Citi’s head of consumer banking for Middle East, said the extension of the partnership will benefit both companies -- and their customers.

“The partnership between Citi and MasterCard is designed to deliver greater value and service to our card holders in the Middle East who are increasingly looking for enhanced digital payment capabilities,” Sharma said. “We are excited by the opportunities ahead that this partnership offers and continue to work towards creating value and remarkable experiences for our clients.”

Raghu Malhotra, MasterCard’s Middle East and North Africa division president, also praised the reinforcement of MasterCard’s continued partnership with Citi.

“This agreement reinforces our global relationship with Citi, allowing us to continue working towards our shared commitment to drive innovation and create safe, simple and secure payment experiences for consumers,” Malhotra said.