Qatar Islamic Bank launches prepaid Visa card

QIB is the first Islamic financial institution to offer the prepaid card which is both Sharia'-compliant and issued according to the high standards of Visa cards worldwide. The cards are currently available for purchase.

The QIB Hadiyati Prepaid Visa card is available in six value categories, and allows the card holder ease of use through Point of Sale (POS) anywhere Visa is accepted around the world. Visa is the most widely-recognized global payment brand with over 29 million merchants and 805,000 ATMs.

The QIB Hadiyati Prepaid Visa card looks like a credit card and can be purchased by anyone at QIB bank locations or six authorized mall booths located throughout Doha such as at City Center, Landmark, Hyatt Plaza and Villaggio, as well as at Lulu stores. The cards are fully-loaded at purchase and activated by the salesperson. There are no credit checks or debt risks with the prepaid card. The cards have the added benefits of safety, as the card prevents the user from the hazzards involved in carrying cash, and capability to make easy electronic or on-line payments. The card limits the user's spending by only allowing the amount of money previously deposited on the card to be used, giving the cardholder full control over his or her expenses.

The card is the smart option for spending control and travel, and perfect for gift occasions such as graduations, as well as weddings and baby showers, so the happy couple may purchase exactly what they need.

QIB is the only Qatar bank to offer the prepaid Visa card, the first in a series of prepaid cards to be introduced to Qatar by the Bank. The next card to be launched will be a rechargeable version of the Visa prepaid card.

The product launch is a large step forward for the Qatari banking sector and card banking services, in particular, and adds value to QIB's current Platinum, Silver and Gold Visa card services. The product offering innovation runs parallel to QIB's commitment to providing high-tech, high-standard and user-friendly services.

Mr. Ahmad Mashari, General Manager - Business Domestic Group, said of the product launch, "The QIB Hadiyati Prepaid Visa card is a giant leap forward for card service banking in Qatar and QIB is proud to be at the forefront of this innovation. This new product fulfills a need of a large number of our customers and answers the demands of the growing Qatar market, keeping stride with the evolution of the way in which people do business. QIB's launch of this Hadiyati Prepaid Visa card demonstrates the leadership of the Bank as the premier Islamic financial institution locally and internationally, and gives our clients the ability to access this important service the world over."