Al-Arafah Bank introduces ‘Islamic Card’
16 June 2015, Nirapad News: Among the local shariah-based commercial institutions, Al-Arafah Isalmi Bank has introduced ‘Islamic Card’ (La Riba Master Card), first of its kind in the country.
Asia Pacific University vice-chancellor Professor Dr Jamilur Reza Choudhury inaugurated the cards, comprising Islamic debit, credit and pre-paid cards.
Master Card Bangladesh country manager Syed Mohammad Kamal said the Al-Arafah-introduced Islamic master cards will be first of its kind in south Asia region.
According to the bank officials, the cardholders will enjoy highest 20 percent concession at 40 restaurants and up to 40 percent discounts at over 100 lifestyle shops across the country during the holy month of Ramajan.
The cardholders will also be able to buy air tickets within five minutes by using the cards. They will also get the opportunity to buy goods across the globe without paying interest.
Bank chairman Badiur Rahman in his speech at the inaugural ceremony hoped that the Islamic master card will earn rapid popularity as it will be ‘interest-free’.