Visa launches Islamic banking cards in Bangladeshadmin2019
Visa, the pioneer in digital payment, announced the launch of a new portfolio of services for Bangladeshi customers in line with Islamic Banking principles on July 15. Customers will now be able to avail themselves the cards compliant with Islamic banking and get exclusive benefits that are only available to Islamic banking as well as the benefits available to the regular banks.
Visa Inc. is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards.
Visa has launched a new portfolio of services in line with Islamic banking principles as Bangladesh houses roughly 35% of the world’s Islamic banking customers and Islamic finance rule over 25% of the country’s banking sector. This information is obtained from the Islamic Market website.
The new credit and debit cards will be providing exclusive benefits to the cardholders in categories like dining, travel, and shopping said a press release. These benefits will be available according to the guidance by Shariah Principals. They will also offer all Visa card variants- Classic, Gold, Platinum, and Signature.
Additionally, the cards will also offer the customers some exclusive benefits that will attract all Shariah bank consumers like Hajj and Umrah Travel, Leisure Travel, Lifestyle shopping, healthcare and retail benefits.
Visa is also constantly looking for ways that are most suitable to the local palate. Apart from lifestyle benefits, few issuing banks may enable Islamic cardholders to make Zakat donations. Customers can also avail of international offers through the Visa Offers portal.
Pic and Article Source: Financial Express.