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Kazakhstan's super-rich get diamond studded credit card

The FT reports the launch of a new Mastercard credit card in oil and mineral rich Kazakhstan. Big deal, you may say, but this is no ordinary piece of plastic - it's inlaid with a 0.02 carat diamond and laced with gold.

To be issued by Kazkommertsbank, the card has a $1000 annual fee and $50,000 credit limit.

Predictably, the FT points out the incongruity of such a ridiculous piece of bling being launched as the world's financial system goes into meltdown. Even more predictably, others can't resist crowbarring Kazakhstan's least favourite son, Borat, into the story.

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Matt White

Matt White

North America editor

Finextra

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