E-Business Strategy in an Online Banking Services

Date of research 14-03/2011

INTRODUCTION

Info about online banking - http://www.wisegeek.com/what-is-online-banking.htm

Online banking is the practice of making bank transactions or paying bills via the Internet. Thanks to technology, and the Internet in particular, we no longer have to leave the house. We can shop online, communicate online, and now, we can even do our banking online. Online banking allows us to make deposits, withdrawals and pay bills all with the click of a mouse. It doesn't get much more convenient than that.

The benefits are many.

For the online banking customer, the convenience factor rates high. No longer does a person have to wait for the bank statement to arrive in the mail to check account balances. One can check the balance every day just by logging onto one's account. In addition to checking balances and transactions, one can catch discrepancies in the account right away and deal with them swiftly. The best part is that this can be done anywhere! As long as one has Internet access, one can practice online banking.

Since bills are paid online, the necessity of writing checks, affixing postage and posting the payment in the mail is eliminated. Once the amount is entered and the payee is checked off, the funds are automatically deducted from the payer's choice of account.

Since the cost to the bank is minimal, the cost to the consumer, in many cases, is also minimal. While there is usually a fee for online banking, it can be extremely low. Those who partake in online banking all agree it's worth every penny. Not having to spend all Saturday morning standing in a crowded bank line is justification for most. It can even pay for itself since costs like postage and ATM fees are reduced.

Online banking also eliminates paper waste, which is a plus not only for those who have to handle all the paper work, but also for the environment.

Of course, there are also cons.

Security is always an issue with Internet transactions. Although information is encrypted, and the chances of your account being hacked are slim, it happens. Banks pay big bucks to install high tech firewalls. Chances are your money is in good hands.

You're also missing the personal service. No smiling teller or representative hands you a receipt. Instead, except for what's printed into your account, all the paperwork is up to you. Always print copies of important transactions.

If you have to deposit cash or checks, you'll still have to spend time at the ATM. Unless a payment to you is directly deposited, this is one thing you'll always have to handle manually.

Still, the benefits far outweigh the risks. The convenience of online banking is a perk well worth the cost. What would you rather do, stand in a long line on a weekend morning or handle your transactions in the comfort of your own home?

Background of Citibank online

http://www.citibank.com/uae/gcb/info/index.htm

Branch / Financial CentersCitibank U.A.E. branches and Financial Centers are open from 8 a.m. to 6 p.m. and teller

counters are available from 8 a.m. to 4 p.m. from Saturday to Thursday to serve your needs so

you can have the flexibility of meeting your Personal Banker at the time that is most suitable and

convenient to you. You can withdraw cash, transfer funds and make deposits at your

convenience.

ATMsWe offer self-service banking through ATM's. Citibank ATM's can be accessed 24 hours a day,

seven days a week.

ATM's at our branch can be used to :- 

1. Credit Card Payment - Deposit Check/Cash2. Withdraw Cash - On your ATM Card, Credit Card and Debit Card3. Deposit Check/Cash into Bank Accounts4. Check your Bank Balance5. Get US Dollars6. Check your Time Deposits7. Check your Loan details8. Get a mini statement of your Account 9. You can also

i. Change your PINii. Order a new checkbook

iii. Order a for a statement

iv. Transfer Money

Offsite payment location- U.A.E. Exchange: 

 You can conveniently pay your Credit Card and Personal Installment Loan bills at

over 86 U.A.E. Exchange locations.

- Pay over the counter or using in-branch kiosks

- Cash payments only

- No additional transaction charges

  

  Find a Citi location nearest to you by using the options below and the online maps provided. 

 

Search location by City:

Dubai

Abu Dhabi

Sharjah

Al Ain

Ras Al Khaimah

Ajman

Fujairah

Some of its online services –

http://www.citigroup.com/uae/gcb/citimobile/index.htm - Citi Mobile - The award-winning internet bank now introduces mobile banking with ‘Citi Mobile’. Citi Mobile is a simple and secure way to view your account information, transfer funds, pay bills and find your nearest Citibank location, all these on your smart-phone while on-

the-go. Sign on and transact on Citi Mobile today and get a chance to win a free 32GB Samsung Galaxy Tab everyday*.

http://www.citigroup.com/uae/gcb/cbol/index.htm - citibank online banking - Enhanced online banking. Citibank Online banking is now up close and personal and has been designed keeping you in mind. It’s user-friendly, secure and even greets you by your name when you sign on. What’s more, you can view your summary of accounts instantly and customize your home screen as you wish. Benefit from relevant marketing offers posted online or take advantage of our ‘quick links’ and ‘new mail’ alerts. Remember, your personalized banking experience is just a click away.

http://www.citigroup.com/uae/gcb/citialert/index.htm - citibank Alerting Services –

Citibank Alerting Service provides SMS and email notifications which enables you to keep track of your account activity.

Keep track of your money ..Citibank Alerting Service provides you with information on your Citibank Credit Card or Banking Account or any other financial relationship that you may have with Citibank - through reminders, alerts and confirmations. For example, it could alert you when your salary gets credited to your account or confirm that the fund transfer you had requested has been done.

The choice is yours - You choose what kind of information you would like to receive.

At your request ..You can choose to receive messages once a day or once a week or once a month - all this with a one time single sign-up on Citibank Online.

Wherever you are ..Even if you are traveling you can receive your alerts by accessing your email.

http://www.citigroup.com/uae/gcb/emailst/index.htm - E-Statements - At Citibank, your banking experience is designed to provide ease at every step, in every aspect. Here’s another service to enhance your experience.

Register for E-Statements and enjoy the following benefits:

•Get your E-Statements within 24 hours from your statement date.

•Access your E-Statements anywhere, any time.

•You can organize your statements more efficiently while improving our combined carbon footprint.

•Banking customers can also view their E-Statements on Citibank Online and have a record of their statements for the last 3 years.

Banking customers:

Register for E-Statements by signing on to Citibank Online (Go to Account Info – E-Statements).

•Easy guide

•Frequently Asked Questions

Credit Card customers:

Call our 24-hour CitiPhone Banking Service on +971 4 311 4000 and provide a preferred and secondary email address on which you wish to receive your E-Statements.

http://www.citigroup.com/uae/gcb/cbol/cgt/index.htm - citibank online money transfer - Citibank Global Transfers (CGT) is the fastest, easiest and most cost-effective way to send and receive money to and from Citibank accounts globally.

It's immediate!

Every fund transfer to Citibank accounts around the world is effected immediately, as compared to the 3-5 days it normally takes for a telex transfer. Citibank account holders can transfer a maximum of US$ 3,000 and Citigold customers can transfer maximum of US$ 6,000 per day. The number of transfers you can make is a maximum of 3 in a day.

It saves you money!For a mere US$5.00 per transfer compared with normal telegraphic transfers, CGT saves you money too.

So now whenever you need to send tuition fees to your children overseas or remit money to friends or family anywhere around the world, use Citibank Global Transfers.

*With Citibank's global network of branches, you can now instantly transfer money to any of these countries below.

http://www.citigroup.com/uae/gcb/cbol/cgt/faq.htm#03

Australia, Citibank Limited Bahrain, Citibank, N.A.

Belgium, Citibank Belgium N.V./S.A. California, Citibank (West), F.S.B.

China, Citibank, N.A. Colombia, Citibank Colombia, S.A.

Florida, Citibank, F.S.B. Egypt, Citibank, N.A.

Germany, Citibank Privatkunden Greece, Citibank, N.A.

Guam, Citibank, N.A. Illinois, Citibank, F.S.B.

Indonesia, Citibank, N.A. India - Ahmedabad, Citibank, N.A.

India - Bangalore, Citibank, N.A. India - Baroda, Citibank, N.A.

India - Bhubaneshwar, Citibank, N.A. India - Calcutta, Citibank, N.A.

India - Chennai, Citibank, N.A. India - Chandigarh, Citibank, N.A.

India - Cochin, Citibank, N.A. India - Coimbatore, Citibank, N.A.

India - Gurgaon, Citibank, N.A. India - Hyderabad, Citibank, N.A.

India - Indore, Citibank, N.A. India - Jaipur, Citibank, N.A.

India - Ludhiana, Citibank, N.A. India - Lucknow, Citibank, N.A.

http://www.arraydev.com/commerce/jibc/2007-04/abdullahfinal_pdfversion.pdf This background information is the exact information given in you case study.

BACKGROUND INFORMATION –

http://www.utility-exchange.co.uk/virgin-entertains-citibank-customers-394/

Citibank is a major international bank, founded in 1812 as the City Bank of New York, later First National City Bank of New York and is now the consumer banking arm of financial services giant Citigroup, one of the largest companies in the world.

Nisreen Shocair, president of Virgin Middle East, and William Keliehor, the cards division head for Middle East, Africa and Pakistan at Citibank, confirmed that Citibank’s Dubai customers can get ready to enjoy concerts, exclusive offers and other special events following this new partnership.

During the announcement at the Virgin Megastore in the Mall of the Emirates, Mr. Shocair stated:

“People in the UAE are sophisticated enough to want our entertainment offers and Citibank customers will have 10 per cent off any of our core products”

http://www.pkaffairs.com/Play_Show_Hasb-e-Haal_31st_October_2010_11443

Citibank is one of the largest banks, and operates one of the largest private banks in the US and globally. Of the 40 private banks reviewed by the Federal Reserve during its industry wide examination of private banking in the 1990s, only one — Citibank — was reviewed in detail by Federal Reserve examiners three years in a row. It is a private bank that has struggled with a wide range of anti-money laundering issues. Although Citibank, under Shaukat Aziz’s leadership (from May 1997 to October 1999) and his successors’ has done much to tighten controls, it was beset by numerous scandals during the 1990s.

A 1999 US Congress investigation (exact reference given at end) into Citibank, provides a fascinating inside look at how Citibank helped launder the ill-gotten gains of four high profile corrupt figures: Raul Salinas, brother of the former president of Mexico, Carlos Salinas, Asif Ali Zardari, the husband of Benazir Bhutto, former Prime Minister of Pakistan (reproduced below), El Hadj Omar Bongo, the elected president of Gabon since 1967, and Mohammed, Ibrahim, and Abba Sani Abacha, three sons of General Sani Abacha, who was the military leader of Nigeria from 1993 until his death in 1998.

Of the four case histories provided in the Report, the following is a complete excerpt of the Case History for Asif Zardari. The report also provides photocopies of signed documents, banks records, etc. (listed below, at the end).

[Beginning of Excerpt]

Asif Ali Zardari – Case History

The Facts

The second case history involves Asif Ali Zardari, the husband of Benazir Bhutto, former Prime Minister of Pakistan. Ms. Bhutto was elected Prime Minister in 1988, dismissed by the President of Pakistan in August 1990 for alleged corruption and inability to maintain law and order, elected Prime Minister again in October 1993, and dismissed by the President again in November 1996. At various times, Mr. Zardari served as Senator, Environment Minister and Minister for Investment in the Bhutto government. In between the two Bhutto administrations, he was incarcerated in 1990 and

1991 on charges of corruption; the charges were eventually dropped. During Ms. Bhutto’s second term there were increasing allegations of corruption in her government, and a major target of those allegations was Mr. Zardari. It has been reported that the government of Pakistan claims that Ms. Bhutto and Mr. Zardari stole over $1 billion from the country.

During the period 1994 to 1997, Citibank opened and maintained three private bank accounts in Switzerland and a consumer account in Dubai for three corporations under Mr. Zardari’s control. There are allegations that some of these accounts were used to disguise $10 million in kickbacks for a gold importing contract to Pakistan.

Structure of Private Bank Relationship.

Mr. Zardari’s relationship with Citibank began in October 1994, through the services of Kamran Amouzegar, a private banker at Citibank private bank in Switzerland, and Jens Schlegelmilch, a Swiss lawyer who was the Bhutto family’s attorney in Europe and close personal friend for more than 20 years. According to Citibank, Mr. Schlegelmilch represented to Mr. Amouzegar that he was working for the Dubai royal family and he wanted to open some accounts at the Citibank branch office in Dubai. Mr. Schlegelmilch had a Dubai residency permit and a visa signed by a member of the Dubai royal family. Mr. Amouzegar agreed to introduce Mr. Schlegelmilch to a banker in the Citibank branch office in Dubai.

According to Citicorp, Mr. Schlegelmilch told the Citibank Dubai banker that he wanted to open an account in the name of M.S. Capricorn Trading, a British Virgin Island PIC. The stated purpose of the account was to receive money and transfer it to Switzerland. The account was opened in early October 1994.

According to Citibank, Mr. Schlegelmilch informed the Dubai banker that he would serve as the representative of the account and the signatory on the account. Under Dubai law, a bank is not required to know an account’s beneficial owner, only the signatory. Citibank told the Subcommittee staff that Mr. Schlegelmilch did not reveal to the Dubai banker that Mr. Zardari was the beneficial owner of the PIC [Private Investment Company: an offshore company often used to launder money], and the account manager never asked him the identity of the beneficial owner of the account. Instead, according to Citibank, she assumed the beneficial owner of the account was the member of the royal family who had signed Mr. Schlegelmilch’s visa. According to Citibank, the account manager actually performed some due diligence on the royal family member whom she believed to be the beneficial owner of the account.

Shortly after opening the account in Dubai, Mr. Schlegelmilch signed a

standard referral agreement with Citibank Switzerland private bank guaranteeing him 20% of the first three years of client net revenues earned by the bank from each client he referred to the private bank.

On February 27, 1995, Mr. Schlegelmilch, working with Mr. Amouzegar, opened three accounts at the Citibank Switzerland private bank. The accounts were opened in the name of M.S. Capricorn Trading, which already had an account at Citibank’s Dubai branch, as well as Marvel and Bomer Finance, two other British Virgin Island PICs established by Mr. Schlegelmilch, according to Citibank. Each private bank account listed Mr. Schlegelmilch as the account contact and signatory. Citibank informed the Subcommittee that the Swiss Form A, a government-required beneficial owner identification form, identified Mr. Zardari as the beneficial owner of each PIC.

http://www.lexdon.com/article/Egypt_Citibank_Appoints_Khalid_El/6570.html

Egypt: Citibank Appoints Khalid El Gibaly Head of Citibank Egypt’s Consumer Business  Cairo – Citibank Egypt, a member of Citigroup, the pre-eminent global financial services company, has appointed Mr. Khalid El Gibaly Country Business Manager for the Consumer Group in Egypt.  Mr. El Gibaly is the first Egyptian to be appointed to this role. He joined Citibank in 1999 as a key founder member of Citibank’s Consumer business with the launch the country’s first unsecured credit card in the same year. Today, Citibank Egypt has nine branches in Cairo and Alexandria and is a market leader in auto loans, personal loans, and credit cards.  Mr. El Gibaly has held several senior positions in marketing and sales at Citibank Egypt, including Head of Retail Bank Branch Banking. Egypt is part of the Turkey, Middle East, and Africa Division for Consumer Banking, headquartered in Dubai. In January 2004, Mr. El Gibaly was appointed Head of the Retail Bank for Citibank in the UAE. His diverse experience in various Citibank businesses, and his strong personal understanding of the Egyptian market and its customers, positions him strongly to help create world class banking services in the fast developing and high growth Egyptian market.  Michel Accad, Citigroup Country Officer for Egypt said: “Egypt is a developing market with a strong future and Citigroup has had a presence in Egypt since 1975. Khalid’s appointment to this senior, leadership role, is a tribute to his capabilities. We are strategically committed to building a world-class consumer banking business in Egypt, and with Khalid’s experience, knowledge, background, and skills, we are confident that the Consumer Bank in Egypt will achieve new heights, as we work towards serving our customers and building a strong franchise.”  Mr. El Gibaly stated, “I am very proud of the progress Citibank’s Consumer Bank has made in Egypt over the course of the last five years, since its inception in 1999. At Citibank we strive to continuously lead the market and provide best-in-class banking services and products and deliver value to our customers in every transaction. I am delighted to return to my home country and look forward to my new role and to continuing to provide world class banking products and services to Citibank customers in Egypt, now and in the future.”  Prior to joining Citibank, Mr El Gibaly spent nine years in senior roles with Unilever in the UK and Egypt and also worked in sales and marketing in Kuwait and the U.S. Mr. El Gibaly speaks six languages and holds an MBA from Strathclyde Graduate Business School in Glasgow, Scotland. He graduated from the American University in Cairo in 1985, majoring in Economics and with a double Minor in Political Science and Computer Science.  1999 witnessed the establishment of Citibank’s Consumer Banking business in Egypt, with the launch of the country’s first unsecured credit card. Since then, the bank has become known for delivering excellence and consistently introducing world-class banking products and services to the Egyptian market. These include a

broad spectrum of innovative personal banking products such as co-branded credit cards, consumer and auto loans, priority banking and wealth management services, made available through the Bank’s nine branches, supported by the sophisticated CitiPhone Banking service, a virtual branch meeting all banking needs over the telephone.

http://www1.albawaba.com/en/business/citibank-no-1-credit-card-issuer-uae-first-retail-spending

UAE-Citibank, a member of Citigroup, ranked first in number of credit cards in use as well as No. 1 issuing bank in the UAE market for retail spending across all categories of credit cards, according to Visa International’s quarterly member bank statistics issued for the period ending 30 June 2005. Citibank has maintained this position consistently during the last 4 quarters according to the same statistics.

 

“These figures, released by Visa, reinforce our consistently leading position in the UAE market,” said Rajeev Kakar, Regional Head for Citibank's Consumer Bank in Turkey, Middle East & Africa, who is based in the UAE.  “Our focus remains “excellence in service & delivery” through sustained investment in state-of-the-art infrastructure, technology and systems, and the creation of strategic alliances to ensure value-added services to our customers at all times.”

 

Most recently, readers of UAE Digest Magazine, nominated the Emirates Citibank co-branded card “Best All-round Card”, while In 2004 the card won Credit Card of the Year Award from the GCC Banking Awards 2004 program run by Banker Middle East Magazine.

http://www.zawya.com/story.cfm/sidZAWYA20081123121407/Statement%20from%20Citibank%20N.A.,%20UAE

Statement from Citibank N.A., UAE

N.A, UAE is a branch of Citibank

N.A and has been licensed in the United Arab Emirates since 1964. We remain the bank of choice for millions

of depositors worldwide, evident in a strong deposit base (approximately $780 billion at the end of the third

quarter) diversified across products and regions, with more than two thirds of it outside the U.S. including

UAE."

"Our universal banking business model has been proven to be robust and has certainly won the approval

of major investors," continued Mr. Al-Shroogi. "Over the past 15 months, Citi

has added $75 billion in new capital: $50 billion through

public and private offerings and $25 billion from the U.S. government's TARP program. As a result, Citi

maintans a very strong capital and liquidity position and

a unique global franchise, including a growing Middle Eastern franchise."

Citi has been in the Arab World for nearly 50 years and

continues to view the region as critical to its global franchise. It is currently present in ten Arab countries

including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.

Recently, the bank strengthened its regional coverage through key treasury, equity and investment

banking appointments in Dubai. It has relocated a global co-head of investment banking to Dubai, and

expanded debt markets business in Dubai by transferring from London its co-head of Europe, Middle East

and African capital markets to oversee businesses including M&A, leverage and project finance.'

http://www.citibank.com/uae/gcb/info/careers/about_citibank.htm -

Citigroup is the first financial services company in the U.S. to bring together banking, insurance, and investments under one umbrella. With the most diverse array of products and the greatest distribution capacity of any financial firm in the world, our 275,000 employees manage 200 million customer accounts across six continents in more than 100 countries. Our success is directly attributed to our people who want to make a difference for their clients and are committed to excellence in whatever they do.

Citigroup is composed of four distinct business divisions:

Corporate and Investment Banking Group Global Consumer Group Global Wealth Management Citigroup Alternative Investments

Citigroup's Corporate and Investment Banking Group has emerged as the premier organization for meeting all the financial services needs of corporations, governments, and institutional investors around the globe.

Citigroup's Global Consumer Group serves consumers through retail banking, cards and consumer finance, providing a full range of innovative and comprehensive products and services. Our businesses also offer industry-leading advanced technology, a strong worldwide presence and a powerful global franchise in Citibank.

The Global Wealth Management division at Citigroup comprises three of the most respected

brands in wealth management: The Citigroup Private Bank, Smith Barney and Smith Barney Global Equity Research. Global Wealth Management is a top-tier global wealth manager providing some of the best institutional capabilities available today. Serving both private and institutional clients, Global Wealth Management taps the strength and resources of Citigroup to maximize value and service.

Citigroup Alternative Investments delivers a broad offering of alternative investments, including hedge funds, credit structures, private equity, real estate, and other private placement and special investment opportunities.

CitibankCitibank is the largest of the many companies under the Citigroup umbrella with a network linking over a hundred countries, and has a business presence unmatched by any other bank in the world. Its success over the years is built on its reputation for innovation and excellent customer service.

Citibank’s offer provides tailor-made banking solutions to a diverse clientele. Citibank has introduced a broad spectrum of innovative personal banking products including credit cards, consumer loans, CitiGold Wealth Management and investment services.

ME&A (Middle East & Africa)Citigroup has been present in the Middle East region for more than 50 years primarily through Citibank. The bank is represented in the main regional markets including Algeria, Bahrain, Egypt, Jordan, Lebanon, Morocco, Pakistan, Tunisia, Turkey and the UAE. 

Its ME&A Consumer operations are located in 4 countries - Pakistan, Bahrain, Egypt, and the U.A.E. Citibank offers a full array of financial services in retail banking, credit cards, investment, insurance and loans. The bank also provides corporate and investment bank services to both domestic and cross-border clients in locations where it does not have a bricks-and-mortar presence.

Citigroup’s established local and global presence means it can fully support customer transactions in a single country and across regions. Being an Employer of ChoiceIn more than 100 countries around the world where we have operations, Citigroup is recognized as being an employer of choice, receiving recognition for the good work environment and opportunities for professional advancement that we make available to our employees. We value a workplace where diversity is embraced, particularly in light of our globality; where employees think and act like owners, where mistakes are tolerated, admitted and addressed before they become real problems; where people treat one another with mutual respect and dignity; and where people truly feel that, no matter how large we grow, each and everyone of us can make a difference.

Citigroup believes that diversity in our staff is critical to our success as a global organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.

Citigroup aspires to be known as a company where the best people want to work, where they are given opportunities to develop, and where a healthy balance is struck between work and family. We value and embrace the diversity of thought, background and experience that is the cornerstone of our global business.

Citibank and YouCitibank offers one of the finest work environments, conducive to both personal and professional growth. Our work environment does not offer “jobs”. It provides people with the opportunity to build careers, to learn, to develop and grow.

It is an organization with unlimited career opportunities, a versatile and dynamic enterprise that allows employees the flexibility of changing jobs and giving their career a new direction without ever having to change the organization they work for. We are committed to being the employer of choice and to serving our community through practical, skill-building programmes.

A career with Citibank will provide people avenues to convert challenge into accomplishment, transform potential to possibility and turn ambition into reality. Employees receive the finest level of training that will help them prepare for future challenges. They are continually encouraged to make positive contributions to the organization in an environment that fosters mutual respect and values opinion.

At Citibank, career advancement is based on merit. Employees are mostly responsible for their own progression and are encouraged to take active roles in directing their careers. There is no "typical" career path. If you show the ability and determination to get things done, there are opportunities for professional growth.

http://www.citigroup.com/uae/gcb/private_bank.htm

Citi Private Bank’s parent company, Citi, is a leading global financial services company that serves 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage and wealth management.

Commitment to ClientsAs a Citi client, you benefit significantly from the strength of our balance sheet and ability to deliver top-tier service even during difficult times. We are a strong institution, pursuing a well-crafted stategy that puts our clients first. These are some of the key reasons why some of the largest institutions continue to do business with us.

CLIENTELE- Clients with a minimum net worth of US $25 million- Inherited wealth, Entrepreneurs and Senior Corporate Executives (C-Suite)

- 25,000 clients globally, including one-third of the Forbes’ list of billionaires- Approximately 1,000 Client Relationships in the Middle East

GLOBAL PRESENCE & HISTORY- Citi operates in six continents; 140 countries; 128 currencies; with approximately 200 million customer accounts- Citi Private Banking (CPB) has over 3,000 employees globally with about 700 in EMEA (Europe Middle East & Africa) including approximately 200 Private Bankers and Investment Specialists.- CPB Offices serving EMEA: Abu Dhabi, Athens, Bahrain, Dubai, Geneva, Jersey, Kuwait, London, Madrid, Monaco, Tel Aviv, Valencia, Zurich- Citi has operated since 1812 and has had a presence in the Middle East for over 50 years working in 10 Arab countries.

A HOLISTIC APPROACH TO WEALTH MANAGEMENTWe are trusted advisor offering objective advice in wealth structuring based on industry-leading research and investment insights from Citi Investment Research & Analysis (CIRA). We offer an unmatched product platform, leveraging the spectrum of products and services from all the Citi businesses.

- Coupled with “open architecture”, an institutionalized process to access “best-in-class” products from the other providers- includes the soft aspects of wealth management – trust & estate planning; family advisory; philanthropic service; art advisory

Clients have access to innovative and customized opportunitites in private equity, hedge funds, real estate, managed futures and structured products that are not available to retail or mass affluent customers. In some cases, participating through a co-investment arrangement with Citi.

INTELLECTUAL LEADERSHIP AND RESEARCHOur clients enjoy access to expertise and industry-leading research and analysis through Citi’s unmatched capabilities and global network.

CIRA is an industry leader in provision of market sector and company research with more than 250 analysts covering over 2,600 stocks and almost 110 corporate bond issuers located in more than 60 countries.

Based on surveys done by Institutional Investor magazine, CIRA’s research is ranked #1 in Asia, #3 in Europe and #4 in Japan in 2009.

CLIENT SERVICEThe Private Bank has a much smaller client-to-banker ratio (average 20-30 clients per banker) compared to retail and mass affluent banking.

Team-based approach: Private Bankers are complemented with a team of financial experts including an investment finance specialist, a trust and estate planner, an investment counselor, a portfolio strategist, a capital markets specialist, succession planning advisor, among others.

http://netlab.cs.iitm.ernet.in/cs648/2009/assignment1/cs09g003.pdf - this site also has the same information as the case study, I just copied these additional info from the site:

TECHNOLOGY: ( In-House or Outsourced? ) The different levels of complexity associated with certain areas involving security, operations, planning, and monitoring have caused many national banks to outsource all or parts of their Internet banking operations. Banks should periodically reassess their sources of technology support to determine whether a given solution continues to fit their business plan and is flexible enough to meet anticipated future needs. Regardless of whether technology services are provided

in-house or through a third-party servicer, national banks need to have a strong link between their technology provider and their strategic planning process. This will enable the bank to link new products and services with the existing technology and product mix. There are pros and cons to offering technology-based products and services inhouse versus contracting with a vendor. Larger national banks with substantial resources may choose to purchase computer hardware and operating systems and/or develop the necessary application software in-house. This option may provide the greatest flexibility to customize product offerings. Other banks may choose to purchase a “turnkey” system from a vendor. In this arrangement the vendor typically provides the hardware, operating systems, and applications software necessary to enable the bank to offer the particular product or service to its customers. The vendor will typically provide the service and maintenance for the turnkey system. A variation is to outsource the service. Using this option, national banks contract with a vendor to operate their Internet banking Web sites at the vendor’s location. This option may beespecially well suited for banks that do not have the technical expertise todevelop this service in-house. However, such banks need to place additionalemphasis on their due diligence to ensure that security is not compromised. Several companies are responding to the developing markets for Web pages, Internet banking applications, and bill presentment and payment services. Although many companies in this market are prosperous and well managed, some are start-up companies with unproven products, services, or track records. National banks need to perform due diligence before selecting a vendor to provide Internet banking services. They should have a formal service agreement with the vendor that clearly addresses the duties and responsibilities of the parties involved. National banks need to monitor their vendor’s operational performance, financial condition, and capability to stay current with evolving technologies. National banks typically fulfill their responsibility to assure their vendors have sound internal controls by obtaining internal or third-party audit reports. Examiners should refer to the IS Handbook for a complete discussion of outsourcing issues. Whatever the source of Internet banking technology, products, and services, it is important for the national bank to have personnel with an appropriate level of specialized expertise, consistent with risk, to monitor and manage the business. Citibank uses well secured technology for it’s Online Banking. It uses SSL Encryption Algorithm for it’s transactions. A Payment Gateway is a system that passes Credit Card data, authorization requests, and authorization responses over the Internet using encryption technology. The secure Citibank Payment Gateway allows the Cardmember to conduct secure transactions on the Internet using the industry standard Secure Socket Layer (SSL) technology, that enables 128-bit encryption of data transferred. Citibank has launched its innovative mobile banking application, Citi Mobile, in the US, allowing customers to access their bank balance, pay bills and transfer funds, among other functions, from their mobile phone. The application combines the consumer need for convenient, on-the-go banking with advanced mobile technology that is compatible with more than 100 popular mobile devices, across major US wireless carriers. "Citibank prides itself on being at the forefront of technology and innovation and on providing a superior client experience," said Maura Markus, president of Citibank North America. "Citi

Mobile is an example of our commitment to providing our clients even more choices and convenience for their everyday banking, wherever they may be. For our clients, it's like having Citibank Online in the palm of their hand." Security has been a high priority in developing the application, the bank said. Citi Mobile transactions are equipped with 128-bit encryption, the same technology used on the bank's website. In addition, no personal information is stored on the phone and, if a handset is lost or stolen, Citi Mobile can be deactivated instantly. For added security, Citi Mobile only permits access to accounts from the phone that is registered with the service, and via a client's six-digit access code. Initially, Citi Mobile will be launched in California, and by mid-year, all Citibank clients will be able to enroll in the service. A Spanish language version is also expected to be released later this year. SECURITY: Citibank is committed to provide a safe and secure online banking experience. Check out the various initiatives that Citibank has adopted to safeguard your online banking sessions. Also explore how you can remain safe by adopting simple safety measures. 1. 1.1.Unique Internet Password (IPIN): Your security is governed by your Unique Secure IPIN (Internet To select your IPIN online, you will have to verify your personal information and generate an Online Authorisation Code (OAC) that will be sent to your Mobile phone/E-mail address. You will then have to reconfirm the details and select your IPIN.Password). 1.2.Citibank Online Security Measures: Protecting you and providing a secure environment is a top priority for Citibank. Some of the measures are: 1.3.Secured login

• All information passed on between Citibank and your personal computer is "scrambled" and "reassembled" using 128-bit encryption, the highest level of encryption commercially available.

• You can access your account by using only the Citibank-issued Card number and PIN/password. You have to enter the Internet Password (IPIN) every time you login to Citibank Online.

1.4.Automatic time out

• Once logged in to Citibank Online, if there is no activity for 5 minutes, your secured Citibank Online session will be automatically terminated to help protect against unauthorised access.

1.5.Automatic lock out

• If the Internet Password (IPIN) has been entered incorrectly six consecutive times, Citibank will lock any further online access to the accounts.

• If you have been locked out of your accounts due to incorrect PIN/password entry, contact your local Citibank Customer Service Officer.

2.Digital Certificate from VeriSign

• Digital Certificates provide you the evidence of the server's authenticity which safeguards users from trusting unauthorised sites and allows the session to be encrypted.

• This is provided by a third party, the Certification Authority, which in this case is VeriSign.

• You will see a 'closed lock' icon at the bottom of the Internet Banking screen.

• Clicking on the lock will allow you to see the VeriSign Certificate authenticating the site.

PERFORMANCE OF INTERNET BANKING 1 Execution 1.1 The aspects to be reviewed and the review process should be chosen by taking into account the intended scope and objective of the review as well as the approach defined as part of the planning process. 1.2 In general, in gathering, analysing and interpreting the Internet banking environment, a study should be made of available documentation, such as bank regulations about Internet banking, Internet law, privacy law, web banking system documentation and use of the Internet banking solution. 1.3 To identify any problems relating to the Internet banking area which have been noted previously and which may require follow-up, the IS auditor should review the following documents:

• Previous examination reports

• Follow-up activities

• Work papers from previous examinations

• Internal and external audit reports

1.4 The IS auditor should map the key processes—both automated as well as manual—relating to the Internet banking initiative/system. 1.5 The assessment of the core business risks (set out in 6.1) should include a critical evaluation of the Internet banking objectives,strategy and business model. 1.6 The IS auditor should then assess the probability that the risks identified pertaining to these processes (business as well as IS risks) will materialise together with their likely effect, and document the risks along with the controls, which mitigate these risks. 1.7 As part of the IS risk assessment, external IS threats should be evaluated depending on the nature of products offered by a bank and the external threats to be addressed. These threats include denial of service, unauthorised access to data, unauthorised use of the computer

equipment, which could arise from various sources such as casual hackers, competitors, alien governments, terrorists or disgruntled employees. 1.8 Depending on the nature of the pre- or post-implementation review, the IS auditor should test the significant processes in the test and or production environment to verify that the processes are functioning as intended. These tests include testing of balance inquiry, testing of bill presentation and payment and testing the security mechanisms using penetration testing. 1.9 In post implementation review the IS auditor should obtain, at least, an understanding of network mapping, network routing, systems and network security assessment, and internal and external intrusion. 1.10 Since the Internet banking solution is predominantly an information technology solution, it should meet the information criteria established in COBIT, as well as other relevant standards or regulations of the industry. The extent of compliance with the information criteria, standards and/or regulations and the effect of noncompliance should be analysed. 2 Aspects to Review 2.1 The following organisational aspects should be reviewed for whether:

1. Due diligence and risk analysis are performed before the bank conducts Internet banking activities

2. Due diligence and risk analysis are performed where cross-border activities are conducted

3. Internet banking is consistent with the bank’s overall mission, strategic goals and operating plans

4. Internet application is compliant with the defined and approved business model

http://www.banking-business-review.com/news/citibanks_uae_division_launches_global_debit_card

Citibank's United Arab Emirates arm has rolled out the Citibank Debit Card, which is designed to provide customers in the Middle East country cashless payment capabilities both domestically and across the global network.

The Citibank Debit Card has been issued to current account and savings account holders in the UAE. The card works as an ATM card which can be used at cashpoints in the UAE and worldwide. Moreover, the Citibank Debit Card can be used at thousands of points of sale located at outlets throughout the world. Cardholders are eligible for two free supplementary debit cards that can be used by family members. The card comes with a personalized security feature, the photo of the holder on the front side of the card, which helps identify the holder and prevents misuse or fraud

Citibank financial performance –

http://www.citigroup.com/uae/gcb/info/award.htm

Citibank Named Global Finance's Best Consumer Internet Bank in the UAE

Dubai – Global Finance magazine today named Citibank “Best Consumer Internet Bank" in the UAE as part of Global Finance’s “World’s Best Internet Banks” competition in Middle East and Africa.

Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and web site design and functionality.

“We win when our clients win, and our commitment, first and foremost, is to provide them with best-in-class services and solutions,” said Sanjoy Sen, Citibank’s Consumer Bank Head- Middle East Region. "We are thrilled to win this award this year, and attribute our success to being the trusted bank of choice to financial institutions, corporations and public sector entities around the world."

Citibank UAE’s online banking channel has witnessed a double-digit growth over the

past two years on all key performance indicators, which led to this recognition.

Mohammed Al-Tajer, Cluster Marketing Head for the Middle East & Africa Global Consumer Group, said, "This prestigious accolade was made possible through the concerted efforts of Citibank UAE's teams, including e-Business, Technology, Citiphone, Customer Service and Marketing Services."

For decades, Citi has been at the forefront of developing Web-based tools and technology to meet clients’ growing demands to bank on the go wherever they are and at anytime of the day. "This would only happen if our customers have liked our web solutions and gave it their vote of confidence,” added Al-Tajer.

Citi has been in the Middle East for nearly 50 years and currently offers consumer-banking services in the UAE, Bahrain and Egypt.

In the UAE alone, Citibank, the consumer banking arm of Citi, has had a presence for the past 45 years and is expanding its major operations within the country. The bank is currently a major player in the UAE’s credit card market and a leading provider of banking, Wealth Management and

Consumer credit services.

CITI WINS FOUR EUROMONEY AWARDS IN THE MIDDLE EAST

COVERING M&A ACTIVITIES IN UAE, EGYPT, SAUDI ARABIA AS WELL AS ENTIRE MIDDLE EAST

In recognition of its continuing success in building its Middle East advisory business, Euromoney Magazine awarded four Middle East Merger & Acquisition (M&A) awards to Citi in 2008. Awards won by Citi were as follows:

Best M&A House in The Middle East Best M&A House in the UAE Best M&A House in Saudi Arabia Best M&A House in Egypt.

Commenting on the awards, Mohammed Al-Shroogi, Citi Managing Director for the Middle East and Chief Executive Officer for the UAE, said: "The Awards by Euromoney speak volumes for our progress in the past few years. With a full team of professionals on the ground covering the entire region, we are able to customize financial solutions that meet the complex needs of our sophisticated clients, from ground breaking acquisitions to entering the international capital markets."

According to THOMSON statistics, the industry standard in financial transactions information, Citi executed the region’s top IPO deals during the past few years with a combined transaction volume exceeding USD 34 billion.

"Our M&A activities as well as IPO transactions add strongly to our footprint in the Middle East. We are committed to provide a holistic financial and investment solution to our clients in the region and determined to be their one-stop banker locally as well as globally," continued Al-Shroogi.

Citi has been present in the Arab World for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.

Citi UAE & Citi Egypt Win World's Best Internet Bank Awards Issued by Global Finance

Citibank U.A.E has won an award in the first round of Global Finance magazine’s awards for the "World's Best Internet Bank 2006” in the Middle East and Africa Region in the category of:

“Best Consumer Internet Bank & Best Corporate/Institutional Internet Bank”

Global Finance is an international finance magazine with a circulation in over 158 countries. The magazine covers a wide spectrum of subjects including corporate financing, capital markets, monetary policies, banking operations and risk management. “Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from internet initiatives and web site design and functionality,” according to Global Finance.  Citi has been at the forefront of developing Internet-based delivery capabilities for both retail customers (Citibank Online) and corporate clients (CitiDirect) in the Middle East, in addition to other B2B e-commerce initiatives that provide clients with full procurement solutions. By using Citibank Online (CBOL), customers can perform a variety of regular banking transactions, such as checking balances or downloading account activity statements. Moreover, customers can transfer funds worldwide, pay utility bills, redeem reward points, order cheque books or subscribe to a number of value added services, round-the-clock and, anywhere in the world.

SITUATION ANALYSIS – using SWOT analysis.

http://213.194.86.162/Webtools/Basvurular/!webpubpic/file/Citibank.pdf

CITIBANK, N.A.SWOT Analysis

SWOT ANALYSISCitibank is the consumer and corporate banking subsidiary owned by Citigroup. Thecompany has operations in over 100 countries, providing a range of financial solutionsaimed at individual clients, small business, and larger corporations and institutions.StrengthsGlobal networkThrough its operation in around 100 countries, Citibank has created a global networkthat has proved robust in the face of economic slumps affecting many Western

economies. Although hindered by loan defaults particularly in Argentina and Brazil,and the subsequent rises in provisions, the bank has been buoyant in certainEuropean markets and furthered its geographical reach through strategic positioningin Russia and the Pacific Rim, particularly China.Backing of the CitigroupCitibank has the undoubted advantage over many of its rivals, of having the financialbacking and support of Citigroup, the hugely successful financial services company.The support this company provides means Citibank can approach ventures andbusiness opportunities with considerably less trepidation than independentcompanies. The group is likely to benefit from an adventurous strategy, so long as ithas the sustainability to survive the consequences when the group’s ventures do notStrengths WeaknessesGlobal networkBacking of the CitigroupInnovative product offeringTarnished brand nameOnline operations are geared towards US clientsBranding problemsOpportunities ThreatsGrowth marketsChinese marketOnline presenceClick CitiForeign exchange fluctuationsMarket conditionsRegulatory forcesCitibank, N.A.© Datamonitor Page 16

CITIBANK, N.A.SWOT Analysisgo to plan. Citigroup provides Citibank with the sustainability required in suchcircumstances.Innovative product offeringInnovative product offerings enable Citibank to remain at the forefront of numerousmarkets. The bank has continually developed partnerships to enhance itsgeographical and sector reach. For example, the bank formed a partnership withWestdeutsche Landesbank Girozentrale. The aim of the deal was to reduce thesettlement risk with foreign exchange transactions resulting from trading acrossvarious time zones.In addition, in 2003 the bank announced its intentions to develop products specific tothe US Hispanic population, in a move designed to capitalize further on the group’sacquisition of Mexican bank Banamex in 2001. This ever-proliferating array ofofferings has enabled Citibank to attract a diversity of customers and have highcustomer retention rates.WeaknessesTarnished brand nameAlthough Citigroup has been one of Wall Street’s strongest performers over recentyears, and has achieved strong shareholder value since its creation, its brand hasbeen severely tarnished since 2002 due to the ongoing investigations into its bankingpractices, particularly in its investment banking subsidiary, Salomon Smith Barney.After examinations into a number of Wall Street banks regarding conflicts of interests,regulators indicated that Citigroup, due to wrongdoings at its Salomon Smith Barneyinvestment banking operation, will be hit with the hardest punishment, with the finelikely to be around $500 million. Although this is punishment for the group as a whole,particularly its investment banking operations, such a high-profile investigation shedsinvestor doubt over all practices of the group, ultimately also tarnishing the Citibankbrand.Online operations are geared towards US clients

Much of Citibank’s online operations are geared towards US clients. This is a majorweakness in Citibank’s armory, as it has worldwide operations, but not a sufficientInternet presence to compliment its branch business. In the increasingly competitivemarket that is online banking, Citibank needs to improve its online facilities for itsinternational customers, or risk losing them to more dedicated companies.Citibank, N.A.© Datamonitor Page 17

CITIBANK, N.A.SWOT AnalysisBranding problemsCitigroup learned the hard way about the importance of branding for onlineoperations. When its Internet-only bank operation, Citi f/i failed, part of the reason wasbecause of poor branding tactics. Citigroup executives thought that by making Citi f/icompletely separate from other banking operations, customers would be moreattracted to an Internet-only operation. For its payments business, the bank chose thename "c2it by Citibank". It wanted non-Citigroup customers to feel that they could usethe service just as much as Citigroup customers could. Its success in the past taughtthe bank to make certain that the ’Citi’ name is leveraged as much as possible.OpportunitiesGrowth marketsCitibank is continuingly focusing on growth markets. Although in some, less liberalizedmarketplaces risk is potentially higher, the bank has sought strategic positioning toattempt to reap the advantages of being one of the first-to-market players. This isexemplified clearly by the launch in of retail banking operations in Moscow. Althoughits presence to date remains minor, the bank is one of the first Western banks to seeka foothold in the country. The Russian banking market remains embattled andfollowing the defaults of domestic banks in 1998, much of the population prefer tokeep their savings at home.However, Citibank is seeking to benefit on two fronts. Firstly, the Russian governmentis currently implementing a number of liberalizing measures as condition for thecountry’s joining of WTO, which will drive the bank’s ease of operation and thenumber of functions it is able to conduct. Secondly, as much of the population stillexpress concerns over the financial foundations of domestic banks, including stateownedSberbank, Citibank can exploit its standing as a financial titan, offering securityto savings deposits.Chinese marketIn addition, and perhaps most significantly, Citibank is positioning itself within the fastliberalizingChinese market. In April 2002 Citibank announced a deal of co-operationwith Galaxy Securities, where it is sharing expertise on securities and banking issues.Citigroup will wait until a relaxation in the Chinese laws before it can make asignificant impact in the market, and will use Galaxy to leverage its full entry.Online presenceCitibank, N.A.© Datamonitor Page 18

CITIBANK, N.A.SWOT AnalysisCitibank is heavily focused on the US, its largest market. Often Citibank uses the USas a test market for various business ventures before expanding internationally. But italso has a number of initiatives in other countries. The bank is now trying to integrateinternational capabilities with what it does in the US (B2B transfers from one countryto another, for example). Citibank recognizes that around the world the Internet isused differently from the way it is used in America. For instance, mobile telephony(WAP phones) is larger in other parts of the world such as Europe and Asia. Citibankhas a number of pilots in other countries that are centered on these WAPtechnologies. It has rolled out its online banking service, Citibank Online, across the

globe and will continue to expand its online presence on a worldwide scale.Click CitiCitibank felt that traditional credit cards did not necessarily meet all the needs thatconsumers had for online shopping. Click Citi debuted as a niche product aimed atexisting cardholders who were nervous about revealing card information on the Web.ThreatsForeign exchange fluctuationsCitibank, due to its geographical spread, can be rendered vulnerable to foreignexchange fluctuations and also recessions in certain markets. At worst, for instance inArgentina and Brazil, this has landed Citibank with substantial losses and increasedprovisions. In addition, exposure to high-risk sectors, including telecom and techstocks, has led the bank to suffer sizable losses on its equity portfolios.Market conditionsThe company has been operating in tough market conditions, and its financialperformance during these times is testament to its strength. The last fiscal year wasan extremely difficult operating environment for Citibank and other companies - thelongest bear market in a generation. Furthermore, a number of corporate revelationsfrom a small number of companies tainted all of corporate America, putting thecompany under more pressure.Regulatory forcesThe company’s consumer finance business operates in a highly regulatedenvironment. These businesses are subject to laws relating to consumer protection,discrimination in extending credit, use of credit reports, privacy matters, disclosure ofcredit terms and correction of billing errors. They also are subject to certainCitibank, N.A.© Datamonitor Page

INDUSTRY ANALYSIS

Porter 5 forces analysis - http://saxontse.drivehq.com/SMIS_HW.doc

Bargaining power of Customer:

Buyer concentration to firm concentration ratio: Bank industry is a high buyer concentration

industry, many people use bank service, such as deposit money, mortgage, loan, investment,

insurance and currency exchange (HIGH). The concentration ratio of international bank industry

is medium, many large bank exist in the world, such as Standard Chartered, CitiBank, HSBC,

Fortis, and Deutsche Bank (Medium).

Buyer information availability (HIGH): When Internet becomes changing people’s life,

customer can easily obtain information through Internet, they can easily compare the price and

service.

Buyer price sensitivity (HIGH): Interest Rate and service charge is sensitive indicator for

customer in bank industry, customer may due to those indicators to draw out all or a lot amount

of capital from bank to bank/ other financial institution. The switching cost of this action is low.

Availability of existing substitute products (HIGH): Many substitute product or service present

in recent year, such as currency exchange, insurance and loan. They mainly provided by other

financial institution.

Bargaining power of Supplier (Low):

Bank capital supplier (Low): Depositor also is capital supplier of bank, they will compare

with other financial product to see whether draw out capital or not.

Computer equipment supplier (Low): The concentration ratio of computer is high, many

companies use IBM, but it doesn’t mean other computer companies are not good, such as

Sun Microsystems, Fujitsu and Hewlett-Pack also provide similar computer equipment and

solution.

Credit Card supplier (Medium):

Credit Card industry is a high concentration ratio industry, VISA, Master Card and

American Express is the most popular credit card in the world. Although other organization

also release credit card system, such as JCB, there market share in the world is much less

than these three organizations. Moreover, these three organizations brand name is louder

than other organizations, so the switching cost from these organizations to others may be

too large.

Threats of new entrants (High):

When many countries and cities join WTO and the Internet effect, the barrier of bank become

disappear. Many financial even non-financial organizations can easily entry to bank industry.

They can use more little money to build a website; they can also integrate with other

organizations. The switching cost of this behavior become smaller than before and the advantage

is larger than before also.

Threats of substitute product

Internet makes many organizations can use smaller amount of money relatively to provide

similar even same service, and the service charge become smaller. Customer will due to

convenience, low cost and high efficiency to change the service to other organization. Real-time

money transfer (i.e. Western Union), real-time payment (i.e. Paypal), currency exchange (i.e.

Xe.com) and insurance (i.e. InsWeb.com), they through Internet to provide a high quality but

low service charge service.

The intensity of competitive rivalry:

There are many banks in the world, as “The Banker” magazine metioned, the Earning Before

Internest and Tax (EBIT) in 2006 of top 1000 banks in the world is 6451 billions US dollars,

higher than 2005. Due to technology becomes improve; financial control become release and the

change of environment in the society, competition between banks become violent and the

maturity of financial market in western country is very high, so the competitiveness force bank to

find other profit continuously.

Research done on the 17/3/2011

E-Business strategy

Which Citibank products/services are suitable for internet banking.

http://www.onlinebanksguide.com/citibank/uae.html

Citibank UAECitibank UAE is a unit of Citigroup that offer the best of banking services in the

country. Citi is one of the largest global financial services firms serving more than 200

million customers and having offices in over 140 countries. Through its operating unit

in United Arab Emirates, the bank offers a wide variety of banking products and

services that include consumer banking and credit, securities brokerage and wealth

management and corporate and investment banking. Citi has been operating in the

Middle East for more than 50 years particularly in the Arab Countries.

Citibank UAE Branches and ATMs

Citibank has a large network of branches, ATMs and financial centers in Dubai and

various other cities and urban areas of United Arab Emirates. The Citibank UAE

branches and financial centers usually open from 8 a.m. to 6 p.m. but the teller

counters are open from 8 a.m. to 4 p.m., Saturday to Thursday, to serve the banking

needs of the local customers. You can visit the bank branches and offices to

withdraw cash, make deposits, transfer funds and conduct several other banking

activities. Moreover, the bank offers self-service banking options through ATMs.

These ATMs can be accessed round the clock and seven days a week. Most of the

Citibank UAE locations can be found in Dubai, Abu Dhabi, Sharjah, Al Ain, Ras Al

Khaimah, Ajman, Fujairah, and Umm Al Quwain.

Citibank UAE Products and Services

A broad range of financial services and products are made available to retail as well as corporate clients of the bank. Some of the major banking

services and products include:

Credit Card Loans Personal Loan Installment Loan Accounts and Deposits Investments Insurance CitiBusiness Account Internet Banking Citibank Online

Instant Fund Transfer Loan Calculator CitiPhone Banking Trade Finance

Citibank UAE Online

Citibank UAE further offers enhanced online banking services that enable the customers to monitor their account anytime from anywhere. It is totally

secure, user-friendly and fast service through which you can get instant summary of your accounts. This personal service allows you to check account

balance, get online statements, make fund transfers and view past transactions online. Customers can login to their account only after enrolling for the

online service or the Internet Banking facility.

The bank also offers excellent careers and job opportunities to potential candidates in the country. For more extensive details on Citibank UAE swift

code, rewards and branch address, contact the 24 hour customer service phone number on 04-311 4265. Also find the helpline and fax number of the

head office from the bank website.

TO BE MORE IN-DEPTH

http://www.online.citibank.co.in/products-services/online-services/citi-mobile.htm?

eOfferCode=PNSWA

Citibank Mobile - Citibank offers you Citi Mobile - the simplest way to transfer funds, pay bills and much more.

Login at http://m.citibank.co.in or download the free application onto your phone and access your account anytime,

anywhere.

SMS Banking- http://www.online.citibank.co.in/products-services/online-services/citi-alert-on-

demand.htm?eOfferCode=PNSWA

One SMS is all it takes to access your account/card information on your mobile. Simply message HELP to 52484

from your GSM mobile phone to open an interactive, menu-based session that allows you to request for key

account/card details

Using SMS Banking you can check your Bank/Credit Card balance, view your

statement, check your Reward Points, request cheque book etc. For more advanced

functionality, including the ability to make bill payments, funds transfers and recharge

your prepaid mobile connection all from your mobile phone itself, we recommend that

you download our full-fledged mobile banking application, Citi Mobile

SMS banking via HELP keyword uses a technology called USSD. USSD (Unstructured Supplementary Service Data)

capability allows you to use an interactive menu-based interface to get real-time messages on your GSM phone, and

respond, to access the service you require. You can also request for individual account details by using any of the following

keywords:

Bank Account Holders

SMS To Get

BAL XXXX Account Balance

SAL XXXX Last Salary Credit in Bank Account

ATM <Location> Nearest ATM

DUPSTAT XXXX Duplicate Statement

Citibank Bill Payment - http://www.online.citibank.co.in/products-services/online-services/bill-

pay.htm?eOfferCode=PNSWA

Discover a Simple, Secure and Convenient way to make Bill Payments Online for all your Utility Bills like mobile, landline, electricity, etc., with Citibank's extensive directory of over 80 billers.No more standing in queues. Just login to the Online Banking platform - and use our one-time Bill Payment option to make

an immediate payment for your bill. Save the details and add the biller to your 'Biller List' for future payments.

Register for Bill payment online

Login to the Online banking platform and register to use our Auto Pay bill payment option and have your bills paid

automatically . Get alerts for online payments made for your reference.

You can also choose the Confirm & Pay option on bill payment if you want to view your bill before you make the payment.

Citibank will track your bill and intimate you when your bill is received. Just login to the online banking platform - CBOL, view

your bill amount and confirm to make your bill payment.

CitiAlert - http://www.online.citibank.co.in/products-services/online-services/citialert.htm?

eOfferCode=PNSWA

CitiAlert helps you keep track of your Savings Account, Credit Card transactions and Investments activities with

Citibank, through regular alerts. Get regular SMS/E-mail alerts on your account or even confirmation of transactions.

Stay informed 24x7 even when you are on the move.

Citi Tap and Pay - http://www.online.citibank.co.in/products-services/online-services/tap-and-pay.htm?

eOfferCode=PNSWA

Citibank brings you an innovative way to shop - Citi Tap and Pay!

Launching now in Bengaluru, Citi Tap and Pay is a revolutionary concept that will transform your shopping

experience. Brought to you in association with Nokia, MasterCard & Vodafone, Citi Tap and Pay allows you to make

payments on your Credit Card for purchases at the top shopping outlets in Bengaluru by simply tapping your mobile

phone at the checkout point!

We are very pleased that the Citi Tap and Pay pilot project has been successfully concluded.

We have received positive customer and industry feedback. We will now proceed to assimilate the results of the pilot

towards a full-fledged commercial launch with which you will have the benefit of an enhanced Tap and Pay service.

Until then, the service will not be available at retail stores in Bengaluru. What is citi tap and pay? Citi Tap and Pay helps you make payments for purchases by simply tapping your Tap and Pay Nokia mobile phone at the

payment counter at select retail outlets in Bengaluru. The payments are debited from your Citibank MasterCard Credit Card.

You can use the Citi Tap and Pay facility, like you would use a Credit Card.

Statement on Email - https://www.online.citibank.co.in/products-services/online-services/statement-on-email.htm?site=PORTAL&creative=NGX&section=PNSWA&agencyCode=XER&campaignCode=&productCode=&eOfferCode=PNSWADo your bit for the environment!

Sign up for the Statement on E-mail service and, you have the flexibility of receiving your Credit Card/Bank Account

Statement to your

E-mail Id.

CUSTOMER PERSPECTIVE AND REACH, ETC - http://www.citigroup.com/uae/gcib/gts.htm

Global reach - a major advantage in an e-Business AgeOperating in over 100 countries, Citigroup represents the world's most global financial services company. We have the scale, global infrastructure and experience to build and support integrated e-commerce service offerings, delivering an increasingly diverse and personalized set of global financial and business solutions for consumers, corporations, governments, and institutions. And as a local bank, serving growing companies in 78 emerging-market countries and territories, Citibank® has the local market expertise to deliver tailored solutions around the world.

Best-in-class financial services, customer services and operationsCitibank® focuses on streamlining end-to-end procurement processes through our global cash management and trade services and e-Business solutions. We have extensive experience in deploying and managing global applications, comprehensive network operations, and integrated hosting solutions.

Enhancing the Customer Experience Through Internet TechnologyIn the field of product development, our goal is to maintain our leadership in banking technology and innovation by utilizing Internet technology to develop new and integrated solutions that will meet our customers' future needs for innovative e-commerce banking applications. We will connect, transform and expand the world of commerce for our customers: by connecting our solutions within the new infrastructure. And by expanding commerce across our customers' organizations we will transform our business, as well as our own.

We shall empower our customers by:

servicing broader communities and exchanges embedding our trusted global financial services infrastructure into e-Flows making our knowledge timely and available in the e-Market space expanding our financial management services into commerce management services transforming our internal systems to achieve integration, speed, flexibility and openness.

Secure global payment and financial servicesCitibank® is uniquely positioned to support the development and expansion of on-line, business-to-business marketplaces with secure payment services that help increase transaction throughput and market liquidity. Today, Citibank®:

Processes $1 trillion in financial transactions each business day Maintains a local presence in 100+ countries Supports 100+ currencies via Worldlink Provides direct access for customers to 60 of the world's principal clearing systems.

e-Business StrategyCitibank's strategy is to be the bank that supports the funds flows emanating from our customers' commerce activity occurring on the net.

Leveraging our core competencies, our aim is to be the payment/settlement site of choice in the business to business (B2B) and business to customer (B2C) flows, as well as a provider of value-added solutions for net businesses.

How will we do this?Our strategy encompasses a three-pronged approach to working with our customers to develop e-Solutions

e-Services provide web-enabled services to deliver a seamless client platform for customers to transact on the web, whether or not their business systems are on the web.Customers that are thinking about changing their business models, or that are transitioning their business models, but have not yet done so can take advantage of the Internet technology and get a better banking experience by using our online banking capabilities. CitiDirect is a major initiative in this arena.

Industry e-Solutions provide industry specific solutions to enable clients to provide unique value to their customers. Our new initiative in industry exchanges and tailored solutions for industry leaders, helps them differentiate themselves in these markets and gain competitive advantage by e-enabling themselves for the new e-world.

e-Solutions provide clients and communities, in general, with new ways to operate and redefine market practices or open new market spaces in the e-business frontier. These e-Solutions reshape business process for speed and quality and are the new gears that drive the e-business growth and permanent infrastructure changes for the new e-space.

Commitment to security and trusted partner of informationCitibank® maintains the highest level of security standards and policies to safeguard the interests of our customers. As a trusted third party, our broad range and expertise in security services links buyers and sellers, helping customers transact with confidence.

Extended marketplace efficiencyIn addition to linking buyers and sellers, Citibank's e-commerce procurement solutions will benefit participating enterprises through distinctive financial service features designed to take the friction out of the cross-functional financial and business processes.

By embedding services, payments become a by-product of other control activities in the requisition-to-pay cycle. Citibank® will enable buyers and sellers to utilize web technology to re-engineer billing, collection and payables processes and drive down costs. The e-commerce efficiency benefits to buyers and suppliers will be greatly extended through value-added services, such as:

Integrated Citibank® Purchase Account, or "e-Account", and Real-time processing of transactions Electronic payments linked to a company's accounts payable processing Real-time foreign exchange quotes, conversion and settlement Electronic business-to-business bill payment and presentment. Unique financing options.

Solutions Backed by Exemplary Customer ServiceWhilst we are committed to developing new Internet and e-Commerce solutions that support our customers business requirements, our emphasis remains rooted in how we serve our customers. Our strong commitment to customer service combined with our quality initiative is targeted at delivering total customer satisfaction. Our use of Internet technology and state-of-the-art product innovation are just two components of the product/solution discussions we have with our customers - keeping our eye on the customer relationship, the excellence of our global products and services, our global network and our local expertise.

About CitiCiti, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com 

Commitment to Leading Edge SolutionsCitibank® is committed to providing leading-edge business-to-business e-commerce services that enable sourcing, selling, billing and financial services capability for our customers worldwide. Citibank® brings a unique set of strengths and experiences to this mission, and represent powerful partners for e-business.

Citibank E-Business Strategy

http://hubpages.com/hub/Citis-eBusiness-Model

Citibank differentiate its e-business product

1. How does Citibank differentiate its e-business product offering from that of its

competitors? How could Citibank create its own competitive advantages in the market place?

Citibank differentiated itself from competitors by using their customer service effectively. They

offered several services to their clients. Citibank offered telephone hotlines, customer relations

managers to give individual attention to their customers, and service experts. Citibank also

continued their investment in technology for the front and back end of the banking systems. Citibank

committed to an “e-business strategy-Connect, Transform and Extend-was to web enable its core

services, develop integrated solutions and reach new markets.” (McCauley & Khan, 2002, p.1).

Citibank was also committed to its customers. According to the case study, ‘Citibank’s vision was to

become the world’s leading e-business enabler". Citibank had over 268,000 employees located in

over 100 countries and their focus was to embed their services into the everyday lives of the local

population. “A bank that had roots in the country as deep as any local indigenous bank, building a

broad customer base, offering diverse products, actively participating in the community and

recruiting staff and senior management from the local population”.

In addition to being committed to employees and customers around the world, Citibank has strong

brand recognition and continues to invest in technology. To position itself strongly within the

technology sector, Citibank formed “alliances with Oracle, Commerce One, Inc., SAP AG, Wisdom

Technologies and Bolero.net” to help transform its company to an e-business model.

In 2000, four companies teamed with Citibank to form FinancialSettlement Matrix.com – a company

that connected buyers and sellers in e-marketplaces with payment processing, credit and other

services through multiple participating banks and financial service companies”.

Citibank's strategic intent

Citibank's strategic intent is to convert its traditional money management business into an e-

business framework. How does Citibank transform its traditional assets into digital assets?

What issues, if any, do you envision that Citibank must overcome in order for the

implementation to be successful?

In order for Citibank to transform its traditional assets into digital assets, it must first establish the

departments necessary to manage this process. In March 2000, Citibank formed the Internet

Operation Group which was in charge of distributing Internet activities among e-Citi and all other

business units. Shortly after that, in April 2000, Citibank formed the e-Consumer and e-Business

segments, designed to “infuse the Internet into all customer and corporate banking activities”.

Following that in May 2000, Citibank added e-Capital Markets and e-Assets Management.

Under Jorge Bermudez’s guidance, the e-Business unit was tasked with developing the software

needed to set clients up with electronic business accounts, utilizing both business and IT people.

Lessons were learned from prior failures, when Citibank tried to manage all aspects of e-business

themselves, and in the years following, Citibank learned to focus on their partners’ strengths and

work with these partnerships rather than go it alone.

The e-workplace was a tremendous boost to Citibank when transitioning from the traditional way of

doing business to the electronic way.  The e-Business model involves constant attention to

development in order to keep making upgrades. The business model on the Internet is not a system

that can be managed lightly. Consumer demands involve constant attention to development needs

that revolve around consumer deliverables.

any growth potential

Is there any growth potential for this business? What opportunities and threats does Citibank

face?

Potential growths in e-business are always existent and continued developments are always

necessary. More and more companies are choosing to do everything from banking to purchasing to

advertising online. Citibank must continue to align themselves with the right partners in order to

maintain their standings in the e-business sector. Company executive Tom Edgerton stated, “In the

future, it won’t be what your company can do, but what the network of companies you work with can

provide”. In order for Citi to continue to grow, it must evolve in its e-Business model and develop

constant updates to its online products.

Opportunities:

Fundamental opportunities for Citibank would be to expand on their existing good reputation,

exceptional customer service, and enhanced web features. According to Edgerton, “Citibank brings

considerable value to potential alliance partners. They’re interested in our brand, our financial

services expertise, our global presence, our strong customer relationships and position as a trusted

provider, as well as our knowledge of specific industries and international markets”.

The regionalization and specialized processing centers that Citibank has developed has provided

them with “scale and continual improvement opportunities”.

Threats:

Citi faced many strategic challenges. As discussed in the case study, “Citibank’s challenge was how

to manage the vendors and suppliers and ensure that they understand Citibank’s strategy and would

not exploit the Bank’s strengths of the information base”.

As Chemdex realized, “even as the company managed to secure millions of dollars in venture capital

to build a thriving network of suppliers and users, all connected through digitized transactions,

success was still elusive. The problem was that Chemdex lacked an essential ingredient for network

success: strong relationships with its trading partners”

Citibank's Cash and Trade Group develop different e-business products

How could Citibank's Cash and Trade Group develop different e-business products for

different industries? How can Citibank identify what it needs to offer when the market is

changing so rapidly?

Citibank’s objective was to manage the flow of money for its corporate customers through the use of

the World Wide Web. The key was to deliver an integrated solution that would “enable its corporate

customers to conduct transaction on-line” with distinct needs.  Citigroup wanted to be the middle

intermediary between buyers and sellers for any type of transaction.

Their presence in the industry emphasized on customer service, including “response time,

technology and support”.  This allowed confidence for customers to use Citigroup’s products. And

with growing pressure to transform to online products, Citi’s competitive advantage expanded to

creating products for different industries online.

            Citigroup was dedicated to creating products that catered to different industries and business

needs by taking appropriate action, whether it was to start e-business groups or invest millions of

dollars in online technology. By 2000, business clients demanded an online product that would

streamline and improve “traditional payment processes”.  The case study provided a few examples

of what customers demanded. They wanted electronic invoicing, automatic application of payments

to account receivables, online payments guarantees and digital receipts stored online.  Other

requirements included multi-currency payment management and payment by invoice and currency. 

Citigroup’s goal of becoming the world’s leading e-business enabler required a fresh approach that

allowed the company to cater to multiple industries and the growing need of changing the product

specification. The company created several online business groups dedicated to each area of the

business. By April 2000, newly formed e-Citi group created e-Consumer and e-Business to target all

consumer and corporate banking activities. Other industry needs complemented e-Citi including e-

Capital Markets and e-Asset Management. These groups were able to identify needs of each

respective market as demand changed rapidly. To combat the changing world of technology, Citi

partnered with key technology players in the industry including Oracle, Commerce One Inc., SAP

AG, Wisdom Technologies and Bolero.net to dedicate to their online products. This change in

strategy allowed the company to constantly focus on changing technology and specific client needs.

“Citibank partnered with companies that had complementary technology or infrastructure or access

to markets”. 

The mission was to connect customers with their online products to conduct “full transactions…

anywhere around the world”.  The e-Citi group developed programs that promoted to different

industries and clients, with aim to allow the transition from “old-style processing…to focus on

transforming workflow automation”.   Citi continues to “deploy various initiatives” to continue to

service customer needs based on industry requirements.  In addition, the opportunity exists for Citi

to “deliver e-products at scale more quickly and more efficiently to customers”.  Due to their massive

customer reach, Citi can also help make improvements with products in one region or industry and

“seamlessly deployed world-wide”.  The flexibility with their product development allows the

company to create different e-business products for different industries and offer requirements for

changing markets.

As the case study eludes, Citi’s online products allow customers of different industries to connect to

Citibank around the world. The addition of using technology partners allows the company to continue

building “new global infrastructure to deliver products and services online”.  Finally the new

technological advances by Citi have helped the company integrate new products together in many

ways that was not possible before 2000. These additions have helped the company to cater to

different markets and in different industries, in the meaning be able to respond to the rapid changes

of all industries

http://www.citibank.com/eastafrica/kenya/ps/elecbnk/e_biz.htm

The e-Business strategy of Citibank is to :CONNECT our customers to our web enabled services,TRANSFORM our capabilities into new Internet offerings andEXTEND our reach into new markets via integrated infrastructure solutions and partnerships with technology companies or e-Commerce market makers.

Our strategy is to position Citibank as the embedded Financial Services engine that powers the Internet economy.

Our capabilities include:

e-Billing

Citibank E-billing is an integrated system supporting both paper and electronic bill presentation and payment.

It enables Billers to present invoices to their customers/subscribers (Bill Payers) online, to track receivables, and receive payments settled through Citibank

E-Business covers all our product areas including cash management, electronic banking, and trade services.

CitiDirect is the center of the Citibank global e-Business strategy.

CUSTOMER’S PERSPECTIVE AND REACH – CHECK OUT THIS URL, IT HAS A LOT OF

INFORMATION ON THE E-BUSINESS STRATEGY SECTION.

http://www.ai.wu.ac.at/~koch/courses/bogazici/archive/mis-spring-2010/presentations/citibank.pdf

Pricing and CustomerServices• Standart price for each service but pricediscrimination by client volume and value.• Emphasis on response time, technology andsupport gave confidence to customers• Customers don’t deal with paper based,

highly manual intensive payment andcollention process.• Citibank secured all the business from thecustomer and gained a total relationship withcorporate customers when they outsourced all the back-end processes.

Smarter and Tougher CustomersThe Internet allowed many corporations to sell theirproducts directly to users rather than selling solelythrough wholesalers.Customers were demanding more sophisticated e-businesssolutions in accordance with the increasing usage of theInternet. Solutions such as online payment collectionand web-enabled financial processes.In addition to corporations, middle market companies werealso more interested in online services, so a bankshould follow their businesses and needs carefully toprovide top quality solutions.

STRATEGY CONTINUES: Future trends in the internet banking arenahttp://mashable.com/2010/12/16/citibank-launches-bank-of-the-future-in-new-york/

The flagship branch that Citibank opened in New York’s Union Square today is a bit different from banks in its other locations.

Instead of picking up a paper brochure, patrons can use one of the six interactive sales walls with touchscreen capabilities to learn more about bank services. Instead of using deposit envelopes, they can use enhanced-image ATMs to deposit checks without them. And instead of waiting for business hours to speak with a customer service representative, customers can use a 24/7 video chat station in the ATM lobby.

The digital components of the 9,700-square-foot branch are based on technologies pioneered by Citibanks in Hong Kong and Singapore.

Some features of the new bank seem more suited for a cafe or a airport lounge than a bank. Customers can access free Wi-Fi (in a private seating lounge if they are Citigold customers), and “media walls” display news, weather, and information about Citibank. Atmosphere Proximity, Citi’s digital agency, also designed a chip with the bank’s social media team that accesses a special Foursquare feed. Whenever a certain amount of

people check in to the branch, an “internal marketing screen” shows which users are inside the branch at that very moment.

“We want this branch to be more than just a bank,” Brad Dinsmore, Citigroup’s head of retail banking in North America, said in a speech at the opening ceremony. “We want this branch to be a place where customers view it as a hub, a center of the community, if you will. A place where they feel warm and welcome, that they can come in and experience our free Wi-Fi access.”

Citi plans to open other branches that emulate the Union Square experience in other key U.S. markets, including San Francisco, Washington D.C., Los Angeles and Chicago

MORE FUTURE TRENDS

http://www.citibank.com/uae/gcb/comm_services/eibfs.htm

Dubai, UAE — Citing its belief that strong Financial Education raises the quality of life for individuals, families and institutions and strengthens communities around the world, Citigroup today announced a 10-year $200 million commitment to financial education. The commitment will include the 100 countries that Citigroup operates in around the world, including the UAE. In the UAE market, Citigroup supports financial education by $100,000/year, and today announced its support of the Islamic banking Diploma, being delivered by the Emirates Institute for Banking and Financial Studies (EIBFS), at $ 50,000/year for a 2-year period.

Integral to Citigroup’s commitment is the formation of an Office of Financial Education. Dara Duguay, formerly the Executive Director of the non-profit Jump$tart Coalition for Personal Financial Literacy in Washington DC, has joined Citigroup and has been named head of Citigroup’s new Office of Financial Education, the financial services company also announced today.

Mobilizing its global force of employees to share their knowledge and expertise with the people they serve, Citigroup also announced today that every employee may take one day off each year to volunteer for a non-profit organization.

Charles Prince, Chief Executive Officer of Citigroup, said: “Citigroup is a longstanding supporter of financial education. Today we are enhancing our commitment with new resources and a sharper focus backed by the energy and enthusiasm of the 275,000 employees of our company. It’s more than just writing a check; it’s using what we do best to help people around the world build better lives for themselves and their families. Over the next ten years, Citigroup will touch the lives of millions of people by providing financial education that will help them achieve their dreams.”

Rajeev Kakar, Regional Head for Citibank's Consumer Bank in Turkey, Middle East & Africa, who is based in the UAE, said, “Today we are announcing a Citigroup grant of $50,000/year for a 2-year period to the Islamic Banking Diploma program which was developed by the Emirates Institute of Banking and Financial Studies. We hope to expand on this work in the future under this global Citigroup initiative.”

Citigroup’s increased commitment to financial education will come primarily in the form of grants from the Citigroup Foundation, supplemented by grants and programs from Citigroup’s various businesses.

Through its new Office of Financial Education, Citigroup will help identify new programs to promote Financial Education and drive the strategy and implementation of Citigroup’s financial education efforts. The new Office of Financial Education will teach people the basics of financial education and mobilize the strength of Citigroup’s global workforce.

Dara Duguay, head of Citigroup’s Office of Financial Education, said: “My experience shows that financial education is needed to turn money mistakes into money successes. I am excited to join Citigroup and lead its efforts to identify and implement programs needed to help people get smart about money and to learn how to become self-sufficient and build wealth.”

Citigroup has created a new website that features information on its Financial Education Program, upcoming activities, and resources, including Citigroup’s Financial Education Curriculum. The site can be found at financialeducation.citigroup.com.

###

Based on the belief that knowledge is your greatest asset, the Citigroup Financial Education Program is a global, company-wide effort working jointly with the Citigroup Foundation to identify, support and implement initiatives that help give individuals, families and institutions the tools needed to make sound financial decisions. Citigroup’s 10-year, $200 million global commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup’s Financial Education Program, including Foundation guidelines, links and resources, the Citigroup Financial Education Program Curriculum and Facilitator’s Guide, may be found at: financialeducation.citigroup.com. 

Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com.

http://www.citigroup.com/uae/gcb/insurance/lifp.htm

At Citibank, we realize that your future is as important as your present

Income Builder Plan - Education

Providing your children with the best of the education is every parent’s dream. And every child deserves the best. Today with the cost of quality education rising to unprecedented levels, it’s very important to start a disciplined savings approach to meet this goal.

Income Builder Plan – Education is an excellent savings program which provides you the best solution to meet your child’s anticipated education expenses. It’s a simple plan with the powerful advantage of guaranteed returns1. It lets you plan for the money that you would require for your child’s important milestone in life – Education.

Income Builder Plan – Education; guarantees1 and pays the tuition fees that you plan for. There are no fluctuations to the education fee planned through this program if you maintain the disciplined saving approach.

The premiums begin at as low as $150 per month.

It gives you the following great benefits:

Guaranteed additions1 and Excess Interest bonus2

Optional riders to protect your plan incase of unfortunate events like death or disability to you.

With premiums as low as $150 per month you can plan for your child’s anticipated education expenses without any fear of volatile financial markets. This plan gives you the peace of mind that your kid’s education financial needs are well planned and safe.

Click here to enroll for Income Builder Plan - Education.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Income Builder Plan - Retirement

Retirement should not be the helpless phase in life filled with struggle, dependence, and compromise on quality living. Today you have the choice to make your retirement exciting with quality life. It just requires a disciplined savings approach to make sure that you enjoy the retired life.

Income Builder Plan – Retirement is an excellent program, which provides you the best solution to meet your retirement income planning needs. It’s a simple plan with the powerful advantage of guaranteed returns1. It lets you decide how much money you would require for your retirement.

Income Builder Plan – Retirement, guarantees1 the annuity that you want to receive. The premiums begin at as low as $150 per month. There are no fluctuations to your retirement income through this program if you maintain the disciplined saving approach.

It gives you the following great benefits:

Guaranteed additions1

Excess interest bonus2

Optional Riders to protect your plan incase of unfortunate events like disability

With premiums as low as $150 per month you can plan your retirement annuity without any fear of volatile financial markets.

After all, you need the same quality of life that you enjoy when working even when you are retired, and it’s even more interesting when you are sure that this can be guaranteed1 with IBP – Retirement plan.

Click here to enroll for Income Builder Plan - Retirement.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Income Builder Plan - Savings

It’s always to your advantage to have a strong financial plan to meet your objectives. Be it buying a house, your dream car, daughter’s wedding, a holiday or just savings for the rainy days. It just requires a disciplined savings approach to make sure that you meet your objectives in life.

Income Builder Plan – Savings is a guaranteed1 safe instrument that lets you decide how much money you would require to meet your financial objective after a specified term.

Income Builder Plan – Savings, guarantees1 the amount that you want to receive on maturity. The premiums begin at as low as $150 per month.

It gives you the following great benefits:

Guaranteed additions1

Excess interest bonus2

Optional Riders to protect your plan incase of unfortunate events like disability

With premiums as low as $150 per month you can plan your savings. There is no fluctuation to your target savings amount through this program if you maintain the disciplined saving approach.

Click here to enroll for Income Builder Plan - Savings.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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My Life

My Life is an excellent variable universal life insurance plan that is very affordable and flexible. It provides you with the choice of flexible premium scenarios starting from 10 years up to age 95.

You can avail this plan for a premium as low as $100 per month. This provides you with life insurance and also allows you to decide your investment strategy depending on your investment attitude into the options of Global Stock index sub-account or Guaranteed Return account

My Life offers the following great benefits:

Life Insurance protection up to age 95 Ability to create savings amount Optional riders that protect you against the unfortunate diagnosis of critical illness, Term insurance

rider for you and your spouse and waiver of future premiums to the plan in case of disability.

You may plan your life insurance protection for the next 20 yrs or till age 80 or till age 95.

Click here to enroll for My Life.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Future Gold.

This is an excellent savings plan that combines the benefits of a lump sum investment and a systematic investment plan.

With investments as low as $200 per month you can choose your investment strategy from a wide range of underlying sub accounts from the renowned fund houses such AIG, Franklin Templeton, Vangaurd etc. You choose your investment as per your investment style and attitude.

Future gold offers you the following great benefits:

Flexible savings vehicle to meet your varied saving needs Facility of partial withdrawals, redirection of future premiums, wide choice of underlying investment

sub accounts Free accidental death benefit up to 50% of the account value or $ 200,000 (whichever is lower) Optional riders to protect you against critical illness, disability, death, accidents etc

Future Gold provides you with the benefits of an excellent unit linked savings plan allowing you to take advantage of the Dollar Cost Averaging which can in turn work the fluctuation in your underlying investment sub accounts to your advantage.

Click here to enroll for Future Gold.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Lifelong

Lifelong is an offshore flexible whole of life insurance policy offering high levels of protection and a wide range of additional benefits.

It gives you various protection benefits such as

Life Cover Aeroplane Cover Waiver of Contribution Accidental Dismemberment Benefit Hospitalization Benefit Accidental Death Benefit Family Income Benefit Long Term Care Benefit Critical Illness Benefit Permanent Total Disability

You have the flexibity to add or remove any benefits chosen. Additionally you can increase or decrease the opted benefits

Click here to enroll for Lifelong.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Investplus

Investplus is a flexible international savings plan capable of accepting contributions in any major convertible currency from anywhere in the world with the aim of providing capital growth."

This regular savings plan offers you various benefits

Option to add protection benefits such asLife CoverAccelerated Critical IllnessSpouse's Income BenefitDismemberment BenefitHospitalization BenefitWaiver of ContributionPermanent Total Disability

Flexibity to invest your monies in leading mutual funds. This plan also has a specially designed Automatic Investment Strategy

Flexibity to reduce, increase or stop your premiums after 18 months

Free Switching among funds

Additional bonus in case you are investing above 750USD per month

Click here to enroll for Investplus.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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International Wealth Account

IWA is a single premium, whole of life unit link plan. The unique features of this plan are:

You can invest into 30 different funds at one time across various markets and industries.

You have access to the worlds top fund houses such as Fidelity, Invesco, Merrill Lynch, Barings, Gartmore, Templeton, Legg Mason, Schroder, J P Morgan and Zurich.

This plan gives you the flexibility to switch in and out of not only funds but also fund houses up to 25 times a year without any charge.

Access to your capital Minimum amount that you can invest is USD 60,000.

For a free consultation with one of our Financial Planning Executives, or for more information, please send us an email.

Click here to enroll for International Wealth Account.

For queries or complaints, please call our 24-Hour CitiPhone Banking on +9714 311 4000 begin_of_the_skype_highlighting            +9714 311 4000      end_of_the_skype_highlighting.

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Sun Secured Advantage

Global Investment Opportunity from Citibank® 

This is a unique global investment program designed to help you in an ever-changing world, with the decisions you make about how to grow and manage your wealth become increasingly complex. Sun Secured Advantage provides flexible and powerful tools for you to have greater control over your investments, helping you build, preserve and transfer your wealth.

The Global Investment AdvantageAs an global investment product, Sun Secured Advantage offers the following:

• Global registration that helps protects assets against political instability.

• Programs that provide liquidity and access to your money.

• Tax-neutral location that provides high net worth individuals with asset security, stability and potential

growth.

Flexible Wealth ManagementSuccessful long-term planning is essential for your financial future and that of your heirs. Sun Secured

Advantage’s choice of investments and product options enable you—with the help of your financial

professional—to create a customized solution for your specific needs and goals.

Sun Secured Advantage can help you build, preserve and transfer your wealth by:• Guaranteeing your Investment• Diversifying your portfolio• Protecting your wealth against currency devaluation and political instability• Providing income for your children, grandchildren, and/or trusts• Ensuring business continuity

Asset Allocation and RebalancingAsset allocation and a rebalancing strategy can be key determinants in building wealth, and the right strategy can have a tremendous impact on your investments’ performance over the long run. With Sun Secured Advantage, you may choose from three investment strategies to meet your financial objectives.

Dollar Cost Averaging (DCA)This strategy helps reduce the likelihood of buying mutual fund sub-accounts at their highest price. Instead of investing a large amount in mutual funds all at once, DCA moves a fixed dollar amount at regular intervals into the mutual fund sub-accounts you select, creating a steady investment stream. The concept of DCA is to buy more when prices are low and less when prices are high, causing you to purchase more units over time. However, keep in mind that DCA or any other systematic investment program does not guarantee aprofit or protect against a loss in fluctuating markets.

Guaranteed Interest PeriodsGuarantee Interest Periods help safeguard your wealth by providing a Guaranteed Interest Rate on yourInvestment for a specified time period. With this option you do not need to worry about how the markets may fluctuate. You will be locked in with a set interest rate for the time period you select.

Secured FutureIf you like the idea of protecting your Investment but want some exposure to the equity markets, protect your Investment with Secured Future, a free optional account feature that guarantees a 100 percent return of your initial Investment while allowing for long-term growth potential in the market.

Optional Principal GuaranteesBacked by Sun Life Assurance Company of CanadaFor those that want even greater access to the equity markets but do not want the risk of losing their investment, consider selecting the Principal Protection Preferred Program (PPP) or the Principal Protection Returns Program (PPR) and receive guarantees from Sun Life Financial Investments (Bermuda) Ltd. which are fully backed by the parent company, Sun Life Assurance Company of Canada. These are optional programs and are available for additional fees.

CITIBANK’S LEGAL AND ETHICAL ISSUES:

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Privacy for consumers at CitiOur goal is to maintain your trust and confidence when handling personal information about you.

YOU HAVE CHOICESAs a Citi customer, you have the opportunity to make choices. As you consider this, we encourage you to make choices that enable us to provide you with quality products and services that help you meet your financial needs and objectives.

SECURITY OF PERSONAL INFORMATIONThe security of personal information about you is our priority. We protect this information by maintaining physical, electronic, and procedural safeguards that meet applicable law. We train our employees in the proper handling of personal information. When we use other companies to provide services for us, we require them to protect the confidentiality of personal information they receive.

Internet Privacy Policy

We want you to understand what personally identifiable information ("Information") that is collected through a web site operated by Citibank* ("we" or "us") and how it may later be disclosed.

You can visit a web site and find out about Citibank products and services and use value-added services that may be available without giving us any Information about yourself. If you must register at a web site to use one of its features or are interested being contacted by Citibank about its products and/or services, you may

input Information about yourself at the web site. Where available, you may update your contact Information online. Otherwise, you will need to contact Citibank at the telephone number provide in order to do so. Any Information you provide to us will be handled in accordance with "Privacy for Consumers at Citigroup."

In order to provide better service, we may use "cookies", which may be set by us or by another company for us. A cookie is a small piece of information that a web site stores on your web browser that can later be retrieved and read only by the same site. We use cookies for a administrative purposes and to enhance your online experience. For example, we may use cookies to track the number of visitors to our site or to enable us present rotating information to you at our site. You can set up your web browser to inform you when cookies are set or to prevent cookies from being set.

It may also be possible for Customers to review and change contact information such as address, phone and e-mail information by signing on and updating their personal profile. To protect your privacy, proof of identity or other authentication is required any time you contact us at Citiphone Banking at +9714 3114 000 begin_of_the_skype_highlighting            +9714 3114 000      end_of_the_skype_highlighting.

From time to time, we may change this Internet Privacy Policy. The effective date of this policy, as stated below, indicates the last time this policy was revised or materially changed. Checking the effective date below allows you to determine whether there have been changes since the last time you reviewed the policy.

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USE OF INFORMATION AND MATERIALSThe information and materials contained in these pages, and the terms, conditions, and descriptions that appear, are subject to change. Unauthorized use of Citigroup's web sites and systems including but not limited to unauthorized entry into Citigroup's systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited. Not all products and services are available in all geographic areas. Your eligibility for particular products and services is subject to final determination by Citigroup and/or its affiliates. Investment services are not bank deposits or insured by the FDIC or other entity, and are subject to investment risks, including possible loss of principal amount invested.

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THE END.