QIB wins the Visa International Award for the “Best New Islamic Product” in Qatar
11/05/2017, Doha, Qatar
Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, received the “Best New Islamic Product” in Qatar from Visa International for the launch of its highly successful ‘Murabaha’ based credit card. The prestigious award recognized QIB’s continuous efforts in providing premium Islamic products for its customers.
The Best New Islamic Product in Qatar Award from Visa was conferred after considering the unanimous and encouraging response from QIB’s customers compared to product offerings of other Qatari Banks and taking into account the products’ innovativeness, benefits, and added value to customers.
“QIB aims for excellence and offers only the best Islamic banking solutions to its growing customer base,” commented Mr. D Anand, General Manager of the Personal Banking Group. “The revolving card exceeded expectations and was met with enthusiastic feedback from our customers. We are happy for this recognition and appreciate VISA International’s cooperation in enhancing the range of our credit cards. Our commitment to our customers’ satisfaction drives us to continue developing the necessary solutions to meet their changing needs.”
Launched last year, the credit card offers customers the flexibility to pay 5% or 100% based on their preference, with monthly settlements automatically deducted from their accounts and the ability to perform early payments at the customer’s discretion at all times. Additionally, the card offers attractive reward points based on a customer’s spend which can be redeemed for Qmiles from Qatar Airways. Customers also benefit from higher credit limits, up to two times their monthly salary. The card, which is offered with no annual fees for the first year, comes in Infinite, Platinum & Gold variants with tailor-made services for each product. Customers also benefit from Free Global lounge access, complimentary access to Visa’s worldwide concierge service , discounts at hotels around the world, purchase protection, extended warranty of up to 12 months for items purchased through the card and much more..
Ibrahim Selim Ergoz, General Manager, Qatar, UAE and Pakistan, Visa, said: “This award recognizes QIB for launching the Best New Islamic Product in 2016 for the QIB Sharia’h compliant Credit Cards. The Sharia’h compliant credit cards have placed flexibility at the core of their proposition. Working closely in partnership with Visa, QIB has delivered an outstanding suite of cards that are packed with features and benefits while also providing cardholders with the choice to repay their balance from a minimum of 5%. Visa congratulates QIB on the success of its strategy to address customer needs with innovative, flexible and rewarding products and services.”
Back to All News Updates