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Safwa Islamic Bank has officially announced the launch of the first e-Murabaha card product in Jordan and the Middle East, in cooperation with MasterCard International, a leading company in the field of cards and payment solutions. Where they also were launched in the Jordanian banking market since the beginning of this year. The Bank issues its new MasterCard cards in categories such as World, Titanium, and Classic.
This card is the first of its kind that adopts the electronic Murabaha formula, under the Islamic-Shariah rules and with various credit ceilings.
The card allows the customer to install all purchases and e-shopping transactions in the form of Murabaha, and from all points of sale (POS) around the world, in addition to offering various installment periods for each movement ranging from three months to two years, and commensurate with the amount of the movement to meet the needs of the customer and requirements, and Murabaha prices are very competitive.
Also, many other features such as remote payment service, 3D secure online shopping, and many discounts and offers from MasterCard.
MasterCard cards, World, and Titanium will offer a variety of new features such as tourism, Halal restaurants, and many other Shariah-compliant services that suit your lifestyle. This is in addition to the exclusive feature of the World Card, which gives cardholders free access to over 900 dedicated lounges at major airports around the world.
On the importance of this agreement, Chief Executive Officer of Safwa Islamic Bank, Mr. Samer Al Tamimi said, “We at Safwa Islamic Bank, are proud to launch the Murabaha Card, and express our sincere thanks and gratitude to MasterCard for its cooperation with the Bank in launching the credit card product, and the support provided to the success of the marketing campaign for the card, which will contribute to the flexibility of the purchases for the cardholders.”
The General Manager of MasterCard in the Mashreq region, Mr. Ramzi Al Ammari added “The Islamic finance industry is witnessing strong consumer demand, which reinforces its position as an incubator for innovation in Jordan and the Levant. The Kingdom continues to meet the needs of the market through world-leading technology, and the launch of the new Murabaha credit card is a logical step in this direction. As a leader in innovative payment solutions, we are proud to partner with Safwa Islamic Bank as a strategic partner who shares the same core values of making Shariah compliant payments easy, secure, and rewarding for cardholders.”