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| Source: Bank Nizwa. |
"Since inception, we have been providing customers throughout Oman with an enriched banking experience that caters to a wide range of segments, equipping them with the best options to meet their evolving needs," said Dr Jamil El Jaroudi, CEO of Bank Nizwa. "Today we are introducing four new cards to the Bank's long list of shari'ah-compliant products and services that offer the most flexible payment plans complemented by MasterCard's unmatched benefits, bringing seamless and more convenient ways to transact around the world."
Raghav Prasad, General Manager for Gulf Countries, MasterCard commented: "Through strategic partnerships, we are able to provide cardholders with value-added benefits, premium privileges and rewards. By collaborating with Bank Nizwa, we are actively rewarding MasterCard cardholders for using their cards to enjoy simple, safe and secure transactions."
Bank Nizwa's MasterCard rollout introduces the Basic, Standard, Gold, and Platinum cards. The cards were developed in line with the Islamic finance concept of qard al hassan, whereby customers will be charged a fixed monthly subscription fee rather than a percentage against their outstanding balances.