Qatar Islamic Bank (QIB), Qatar’s first Islamic bank, and MasterCard, a global payment solutions provider, have teamed up to offer a five-year premium debit MasterCard.

The strategic agreement, Initiated to provide added value to QIB’s premium customers, will streamline QIB’s premium debit MasterCard issuance, while offering more benefits and enhanced insight as the bank manages its premium debit portfolio, a statement said.

“We have worked with MasterCard since 2003, and have developed a strong, value-based relationship that meets the evolving needs of QIB MasterCard cardholders,” said Salah Jaidah, chief executive officer of QIB.

“QIB chose to collaborate with MasterCard because of the company’s fundamental understanding of the payments market, expertise and product innovation; elements that fall in line with the bank’s customer service mission. Through this agreement, QIB is able to differentiate its product offerings, better serve its clients and further deliver enhanced and customized product features and privileges,” he added.

Eyad Al-Kourdi, vice president and country manager, Southern Gulf - UAE, Qatar & Oman, MasterCard Worldwide, said: “This agreement underscores our commitment to work with our customers to develop products and solutions that are customized to cater to the diverse needs of consumers.”

“MasterCard is delighted to cooperate with Qatar Islamic Bank to develop a payment solution tailored to appeal to the affluent consumer. We are delighted that Qatar Islamic Bank has collaborated with us to further develop their debit portfolio business,” he added.

As part of the agreement, QIB will issue PIN based premium debit cards to its VVIP and affluent client base. This agreement will add value in the form of lounge access, concierge service and many other privileged benefits, the statement said. – TradeArabia News Service