Dubai: An Indian-owned jewellery chain has partnered with a local bank in the UAE to launch a co-branded credit card, becoming the first organisation to offer 'Goldback' in the country.

The Rakbank Kalyan Jewellers MasterCard Credit Card, is accepted globally for purchases and cash withdrawals.

The loyalty points are earned at a rate of up to 7 per cent and can be redeemed at any Kalyan Jewellers outlets in the UAE in the form of jewellery.

The card also offers a zero per cent easy payment plan on diamond and gold jewellery purchases.

Kalyan Jewellers, one of the largest jewelry manufacturers and distributors in India, launched into the Gulf Cooperation Council (GCC) region in December 2013.

"We have always been at the forefront when it comes to introducing innovations in the jewellery industry. The RAKBANK Kalyan Jewellers Credit Card is another example of customer-centric innovation wherein customers can harness their retail spends to acquire jewelry with Goldback points," said T S Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers.

The members of GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.