Al Baraka launches first-ever Islamic credit cards

Press release
Published May 10th, 2017 - 10:53 GMT
The new credit cards are being launched as part of the bank's commitment to continuously provide flexible, Shari’a compliant financing solutions which address specific needs and provide enhanced benefits for customers, said a statement from the bank. (File photo)
The new credit cards are being launched as part of the bank's commitment to continuously provide flexible, Shari’a compliant financing solutions which address specific needs and provide enhanced benefits for customers, said a statement from the bank. (File photo)

Al Baraka Islamic Bank (AIB – Bahrain), a pioneer in the development of Islamic finance, has announced the launch of its first-ever fully Shari’a compliant credit cards.

The new credit cards are being launched as part of AIB – Bahrain’s commitment to continuously provide flexible, Shari’a compliant financing solutions which address specific needs and provide enhanced benefits for customers, said a statement from the bank.

Speaking at the launch, AIB – Bahrain CEO Mohamed Isa Al Mutaweh, said: "This is a significant juncture in our history as these vastly beneficial credit cards serve to be our latest addition to our wide range of financial solutions and highlights our strive to continue offering flexible solutions to address the diverse fiscal needs of our customers, from personal necessities to family matters."

These cards come in three different variants, Gold, Titanium and Platinum and will offer exceptional features and the most advantageous benefits.

He said all card holders will be offered the most competitive rates in the kingdom and will be automatically enrolled into the Al Baraka Rewards program to enjoy exclusive benefits and exciting rewards.

"The Al Baraka Rewards program is a universal loyalty program that allows members to earn and redeem Al Baraka Points instantly, anytime and anywhere within the rewards network and on the online catalog," he stated.

Al Baraka Points, he said, could be redeemed instantly for flight booking on over 900 airlines with no black out period, stay in over 200,000 hotels, car rentals around the world, all items available on Al Baraka’s online catalogue across 15 different categories, along with special deals and offers.

"AIB – Bahrain may have only come into existence as recently as 1984 but in terms of our longevity, we aim to consistently innovate customer-oriented products and services that will not only serve to consolidate our position amongst the Islamic financiers in the kingdom but more importantly, fulfill our aspirations to provide the best to our customers, as exemplified by the hugely successful and popular Al Barakat Savings Account introduced in 2014," added Al Mutaweh.

Source: Trade Arabia

Background Information

AlBaraka Islamic Bank

Al Baraka Islamic Bank (“AIB” or “the Bank”) is one of leading financial institutions in the Islamic banking sector. Throughout its history of more than three decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits. The Bank enjoys a good reputation and high standing with the community in the Kingdom of Bahrain in particular, and in the GCC, Arab and Islamic worlds in general.

 

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