While countries around the world struggle to cope with a looming recession, a bank in commodities-rich Kazakhstan is shaking off the downturn and launching a new credit card aimed at the nation's multi-millionaires. Laced with gold and inlaid with a real diamond, the card has an annual fee of $1,000 (£616) and a credit limit of $50,000 (£30,815).
It will come in his and hers versions - the his card sporting a picture of a winged horse and the hers edition embellished with an image of a peacock. Aptly named the Diamond, the card will be launched by MasterCard through Kazkommertsbank.
According to the Telegraph, Alla Voyakina, head of international payment systems at the bank, told the Financial Times that the global economic crisis is affecting Kazakhstan. However, she stressed: "We are talking about rich people, they can afford to have such cards. It's a question of prestige to have such cards in your wallet."
Around 1,000 of the cards will be issued in total, with 30 being handed out each month. The diamond at the centre of the card serves as a design feature only and is used to highlight the social status of the customer.
Kazakhstan's vast mineral resources have helped to propel thousands of people to billionaire status in the country over recent years. Its main exports include oil and uranium. It is also an exporter of diamonds.
