Visa Launches New Shariah-Compliant Credit and Debit Cards for Islamic Banking Cardholders in Bangladesh

Visa, the US-based global digital finance service provider has launched a new portfolio of Shariah-compliant services in Bangladesh. Accordingly, Visa will provide debit and credit cards that comprise exclusive benefits to Islamic banking cardholders in the categories of dining, travel and shopping. Shariah-compliant banks in Bangladesh will be able to issue cards compliant with Islamic finance, with a range of tailor-made benefits through all available Visa card variants, Classic, Gold, Platinum and Signature.

Why it Matters?

Bangladesh houses roughly 35% of the world’s Islamic banking customers and Islamic finance constitutes over 25% of the country’s banking sector. According to Soumya Basu, Country Manager, Bangladesh, Nepal and Bhutan, at Visa, Bangl...