Mastercard and BankIslami have partnered to expand the bank’s consumer and business card range, including Shariah-compliant credit cards.
Mastercard and BankIslami have formed a partnership to expand digital payment services in Pakistan. The agreement will broaden the bank’s consumer and commercial card offering for individual customers, businesses, and micro, small, and medium-sized enterprises (MSMEs). Under the partnership, BankIslami plans to develop a wider range of debit, credit, and business cards to meet the needs of customers across different income groups and business segments.
Premium and Shariah-compliant cards
The collaboration includes a priority banking programme featuring Mastercard World cards, as well as the introduction of Mastercard World Elite cards for affluent customers. Another key element is BankIslami’s Shariah-compliant credit card programme, which is designed to serve both mass-market and affluent customers.
For corporate clients and small and medium-sized enterprises, the partnership will expand Shariah-compliant payment options, including debit cards and Business Payment Controls, a tool to help businesses manage payments and improve supply chain processes. Mastercard will also support the launch of a unified loyalty platform across BankIslami’s card portfolio, giving customers a consistent rewards and benefits experience across the bank’s products.
Expanding access to digital payments
Imran H. Shaikh, President and CEO of BankIslami, stated that the collaboration will strengthen the bank’s ability to offer a broader range of Shariah-compliant payment solutions. According to Shaikh, the bank aims to make Islamic banking a preferred choice by combining Shariah-compliant services with the convenience and capabilities of digital banking.
Arslan Khan, Country Manager for Pakistan and Afghanistan at Mastercard, stated that the partnership will expand payment options for consumers and small businesses, support Shariah-compliant card offerings, and help more customers take part in Pakistan’s digital economy. The agreement reflects the growing role of digital payments in consumer and business transactions in the country, combining wider access to card products with the development of Islamic banking services across both retail and commercial segments.
