Visa to offer Islamic cards in Bangladesh

Reported by: |Updated: July 20, 2021

Visa recently announced the launch of a new portfolio of debit and credit cards conforming to Islamic banking laws in Bangladesh. The new credit and debit cards will provide attractive benefits to Islamic banking cardholders in matters such as dining, travel and shopping. Banks operating under Shariah principles (general and Islamic), if they want to give customers a card compatible with Islamic banking, they can now do so through various versions of Visa card like Classic, Gold, Platinum and Signature. The cards will provide benefits to Islamic banking customers in Hajj and Umrah, leisure travel, shopping, healthcare and retail shopping. A study conducted by the GCC Region Visa found that about 46% of customers of both general and Islamic types of card users prefer to use Islamic credit cards over other cards and 15% of customers prefer their conventional credit cards.