Visa launches Shariah-compliant credit, debit cards in Bangladesh

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Dhaka

Visa, a US-based multinational company better known for its debit, credit and prepaid card services, launched a new portfolio of services for Bangladeshi customers in line with Islamic banking principles.

Guided by Shariah principles, the new credit and debit cards will offer exclusive benefits to Islamic banking cardholders in categories like dining, travel and shopping, a Visa press release said on Thursday.

Banks guided by Shariah principles, both traditional and Islamic, that wish to offer cards compliant with Islamic banking can now do so in all available Visa card variants– Classic, Gold, Platinum and Signature– each of which comes with a range of benefits tailored to the segment.

These cards will offer customer a slew of exclusive benefits in categories that are popular among Islamic banking consumers like Hajj and Umrah travel, leisure travel, lifestyle shopping, healthcare and retail benefits.

Bangladesh is home to roughly 35 per cent of the world’s Islamic banking customers and in the country, Islamic finance makes up more than 25 per cent of the banking landscape. —NEWAG

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