A new credit card, which has been launched in Kazakhstan, aims to entice the millionaires within the commodity-rich country, despite many countries around the world facing slowdown and even recession.

The Diamond card has a credit limit of $50,000 (£30,815) and an annual fee of $1,000 (£616), but the most distinctive feature of the card, is that it in encrusted with pure gold and a real diamond.

The card, which also comes in his and her versions, with the, his version, sporting a picture of a winged horse, while the hers edition embellished with an image of a peacock, was launched by MasterCard through the national bank, Kazkommertsbank.

Alla Voyakina, head of international payment systems at Kazkommertsbank said: "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."

Roughly 10,000 cards are expected to be distributed and around 30 each month. The diamond is said to be an added feature, which will aim to highlight the status of the holder.

Kazakhstan is a country that is rich in resources, which has helped to raise many of its citizens to a billionaire status in recent years. Its main exports include oil and uranium and the country is also an exporter of diamonds.