Key Takeaways
- Mastercard and BankIslami have joined forces to expand digital payment solutions in Pakistan.
- The collaboration aims to provide Shariah-compliant card and payment solutions for individuals and businesses.
- Mastercard will support the launch of BankIslami’s unified loyalty platform, offering consistent rewards to customers.
Mastercard and BankIslami have announced a strategic partnership to strengthen the digital payments ecosystem in Pakistan, aiming to provide a broader range of Shariah-compliant card and payment solutions.
Under the agreement, BankIslami will develop a comprehensive portfolio of debit, credit, and business cards to cater to diverse customer segments, including individual account holders, micro, small & medium-sized enterprises (MSMEs), and commercial clients.
The collaboration includes the launch of Mastercard World cards and Mastercard World Elite cards for affluent customers, alongside BankIslami’s Shariah-compliant credit card program for mass-market and affluent segments.
BankIslami will also expand its Shariah-compliant offerings for corporates and small and medium-sized enterprises through debit cards and Business Payment Controls, which will help businesses manage payments and optimize their supply chain processes.
Mastercard will support the launch of BankIslami’s unified loyalty platform across its card portfolio, ensuring customers receive a consistent rewards and benefits experience.
Imran H Shaikh, President & CEO of BankIslami, stated, '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.'
Arslan Khan, Mastercard’s country manager for Pakistan and Afghanistan, added, '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.'
The partnership is expected to enhance the digital payment landscape in Pakistan, making Islamic banking more accessible and convenient for a wider range of customers.
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
Imran H Shaikh, President & CEO of BankIslami
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
Arslan Khan, Country Manager, Pakistan and Afghanistan, Mastercard
