BankIslami and Mastercard joined forces to grow consumer and commercial card selections while supporting digital payment expansion throughout Pakistan. BankIslami plans to build a wider range of business, debit, and credit card products under this partnership to serve various clients, ranging from personal account holders to micro, small and medium-sized enterprises alongside commercial accounts.
The partnership features a priority banking tier with Mastercard World cards, plus Mastercard World Elite cards for high-net-worth clients. It includes BankIslami credit card options that comply with Shariah laws for both mass-market and wealthy buyers. The institution will also grow its Shariah-compliant products for small and medium-sized enterprises and corporate clients through business payment controls and debit cards, assisting companies with supply chain operations and payment management.
Mastercard will additionally assist in rolling out a single loyalty platform covering all card products at BankIslami, delivering uniform perks and rewards.
"This collaboration with Mastercard strengthens our ability to provide customers with a broader range of Shariah-compliant card and payment solutions across individual and business banking", stated Imran H Shaikh, who serves as President and Chief Executive Officer at BankIslami. "Our goal is to make Islamic banking the preferred choice for customers by combining Shariah-compliant solutions with the convenience and capabilities they expect from modern digital banking," he stated further.
"Mastercard powers commerce by connecting people and businesses through digital payment technology. Working with BankIslami, we are expanding payment options for consumers and small businesses in Pakistan, supporting the bank's Shariah-compliant card offerings and helping more customers participate in the digital economy", stated Arslan Khan, holding the position of country manager for Pakistan and Afghanistan at Mastercard.
