LAHORE – Burj Bank and MasterCard Launch Pakistan’s First Islamic Debit Card Pakistan. Burj Bank in association with MasterCard, a global payments and technology company, announced the launch of Pakistan’s first Islamic MasterCard debit card that is designed to benefit customers who prefer better control over their expenditure.
An official signing ceremony, which was attended by Ahmed Khizer Khan, President and CEO, Burj Bank, and Michael Miebach, President, Middle East & Africa for MasterCard Worldwide, marked the introduction of this pioneering debit card program in Pakistan, says a press release. The newly-introduced Shari’ah compliant MasterCard debit card is a perfect blend of Islamic banking tenets and a host of rewards, benefits, and acceptance enjoyed by MasterCard cardholders worldwide.
With the Burj Bank Islamic MasterCard debit card, customers will have full access to cash and banking functions at ATMs in over 210 countries. Furthermore, the MasterCard debit card also provides the added convenience of seamlessly transacting at 33.9 million merchant locations globally, which is highly beneficial when traveling overseas. Cardholders will also be able to make secure purchases online and over the telephone using their MasterCard debit card. Offering round the clock access to personal funds, the MasterCard debit card facilitates direct deduction of purchase amounts from the cardholders’ bank account when paying at any point–of-sale (POS) terminal with no additional interest charge.
“We are pleased to collaborate with MasterCard to offer our cardholders the safety and convenience associated with this brand. In a short span of time, Burj Bank has become a symbol of prosperity, progress and success, and by working with partners who reflect these principles, we will be able to deliver world class banking services as we rapidly expand our customer base in the country. The introduction of the MasterCard Debit Card by Burj Bank is an important milestone for Pakistan’s Islamic Banking industry given MasterCard’s global experience of offering innovative Shari’ah Compliant products”, said Ahmed Khizer Khan P&CEO of Burj Bank.
Commenting on the launch of Burj Bank Islamic MasterCard debit card, Michael Miebach said, “MasterCard has been at the forefront of introducing innovative, tailor-made and value-added financial solutions for our customers globally. We are proud to collaborate with Burj Bank to introduce Pakistan’s first Islamic MasterCard debit card, which will provide immense value to Burj Bank’s customers by offering a secure and convenient alternative to cash transactions”.
Burj Bank is currently the fastest growing Islamic bank in Pakistan with 50 branches across the country and it plans to expand to over 300 branches in the next five years.