Top executives of QIB and Visa at the launch event.
DOHA: Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has announced the launch of a new credit card to be offered in Infinite, Platinum and Gold variants. The new credit card will provide QIB customers with the convenience of managing their cash flow by paying as low as 5 percent per month on their card outstanding balance.
To celebrate the new product’s introduction, the bank is providing a special launch offer to customers who apply for the new card between now and the end of 2016. As part of the limited-time offer, QIB will waive card issuance fees, cash withdrawal fees and supplementary card fees.
Under the new cards’ terms, customers have the flexibility to pay anywhere between 5% and 100% of their monthly balance, with monthly settlements automatically deducted from their accounts and the ability to perform early payments at the customer’s discretion at all times.
The new Credit Card offers attractive reward points based on customers’ spend; customers will also benefit from higher credit limits, up to two times their monthly salary. As is the case with all QIB cards, customers will benefit from the one-time password security feature that the bank has added when using the card for online purchases to protect customers’ credit card and personal information.
Customers who hold QIB Visa Platinum credit cards will enjoy extra benefits such as purchase protection, extended warranty of up to 12 months for items purchased through the card and discounts at various retail outlets. Customers who hold the QIB Visa Infinite card will experience even more premium card features.
In addition to the above, QIB Visa Infinite cardholders will have complimentary access to Visa’s worldwide concierge service – essentially a 24/7 personal assistant who can help arrange dinner reservations, chauffeurs and taxis, theatre tickets, gifts and anything else customers might need while travelling for business or pleasure. Both primary and supplementary cardholders will have unlimited complimentary access to more than 500 airport lounges worldwide through the LoungeKey service, plus discounts at hotels around the world.
“We are pleased to introduce this new credit card with flexible payment option as part of our overall product suite. Our clients have been asking for a product that offers them the flexibility to carry their balances forward and we listened,” said D. Anand, General Manager of QIB’s Personal Banking Group.
“QIB is always looking for new ways to serve its customers. The new card gives our customers yet another Shariah-compliant option for managing their personal finances. QIB is committed to providing new offers and features on this card, which will benefit our valued customers and further enhance their well-being.”
Rahul Joshi, Country Manager for Qatar - Visa, added: “Flexible payment terms are consistently highlighted as a key attraction for customers when choosing one card product over another. Visa fully supports QIB’s strategy of putting the customer at the heart of its business and delivering a suite of products giving cardholders the ability to make payments according to their individual requirements. Visa anticipates QIB customers will welcome this flexibility, and we wish the bank every success with the launch.”
