Enriching the lives of customers with greater choice and convenience, Bank Nizwa launched a full suite of Shari’a-compliant credit cards in partnership with MasterCard. The Bank Nizwa MasterCard credit cards are tailored to complement the lifestyles of multiple customer segments with the most expansive Shari’a-compliant credit cards in the Omani market, offering financial flexibility in more than 35 million locations worldwide.
“Since inception, we have been providing customers throughout Oman with an enriched banking experience that caters to a wide range of segments, equipping them with the best options to meet their evolving needs,” said Dr. Jamil El Jaroudi, CEO of Bank Nizwa. “Today we are introducing four new cards to the Bank’s long list of Shari’a-compliant products and services that offer the most flexible payment plans complemented by MasterCard’s unmatched benefits, bringing seamless and more convenient ways to transact around the world.”
Raghav Prasad, General Manager for Gulf Countries, MasterCard commented: “We are proud to launch Oman’s widest ranging Islamic credit card program with Bank Nizwa, which is one of our key partners in Oman’s Islamic banking sector. Through strategic partnerships, we are able to provide cardholders with value-added benefits, premium privileges and rewards. By collaborating with Bank Nizwa, we are actively rewarding MasterCard cardholders for using their cards to enjoy simple, safe and secure transactions.”
In the wake of strong demand for Shari’a compliant banking in the Sultanate, Bank Nizwa’s MasterCard rollout introduces four new cards including Basic, Standard, Gold, and Platinum. The cards were developed in line with Islamic Finance concept of Qard Al Hassan, whereby customers will be charged a fixed monthly subscription fee rather than a percentage against their outstanding balances.