DIB launches first Islamic credit card

DIB launches first Islamic credit card
Tags: Associations / Conferences, Bank / Credit Union, Debit / Credit, EFT Networks, Other
February 19, 2006

LONDON - Dubai Islamic Bank launched its first Islamic credit card with the support of Card Tech Ltd., a United Kingdom-based bankcard systems provider and processor.

The new Alislami Credit Card, offered in Visa Classic, Gold, Gold Executive and Platinum, provides DIB customers with the benefits of a conventional credit card, while ensuring that all payments and repayments are compliant with Islamic principles.

"The launch of this Islamic card sees an extension to our 14-year strategic cooperation with CTL, which has enabled DIB to achieve many of its business and technical objectives," said DIB executive vice president and head of retail and business banking Wasim Saifi.