TOKYO - JCB, Orix Corp., and Majid Al Futtaim Group have signed an agreement for a joint credit card business in the Middle East and North Africa, the companies announced Jan. 26.
The company, MAF JCB CARD PJSC., will be headquartered in Dubai, United Arab Emirates.
According to a news release, the joint venture in July will begin issuing JCB cards and developing license partners for JCB card-issuing and merchant-acquiring businesses.
Japan-based Orix is an integrated financial service provider. Majid Al Futtaim Group owns the franchise license for the French hypermarket chain Carrefour in the MENA region, along with a variety of shopping, entertainment and leisure facilities.
The group opened Ski Dubai in October 2005, the only indoor ski resort in the Middle East
