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12 June 2013

QFB launches First Metal Shari’ah-Compliant World Elite MasterCard Charge Card in MENA

QFB today announced the launch of the first Shari’ah-compliant metal ‘World Elite MasterCard Charge Card’ in Qatar and the MENA region.

Qatar First Bank (QFB), Qatar’s first independent Shari’ah-compliant bank regulated by QFC Regulatory Authority, today announced the launch of the first Shari’ah-compliant metal ‘World Elite MasterCard Charge Card’ in Qatar and the MENA region.

This highly exclusive metal QFB World Elite MasterCard Charge Card is accepted at more than 35.9 million outlets across more than 210 countries. It will be offered by invitation only. The card provides an innovative experience–based service platform for affluent customers and is packed with a host of high value benefits and rewards which include travel benefits, lifestyle concierge and insurance, among others.

A key feature of the QFB World Elite MasterCard Charge Card is the World Elite Affluent Gateway – a dedicated ‘one call’ gateway for tailored concierge services. Cardholders will also have access to over 600 airport lounges around the world, along with exclusive travel promotions and luxury retail shopping advantages. The QFB World Elite Card is a service proposition which introduces privileged dining, traveling and shopping experiences in addition to providing access to prestigious venues and global events.

One of the salient features of the newly introduced card is the donation of a percentage of each customer’s monthly spending to Qatar-based charities among these The Sheikh Thani bin Abdullah Foundation for Humanitarian Services (RAF).

Emad Mansour, CEO, QFB commented: “We are proud to be the first bank to launch a Shari’ah-compliant metal charge card in Qatar and MENA. Affluent clients are now more sophisticated, and demand unique experiences in dining, travel or shopping. Our carefully-tailored proposition promises to take these experiences to the next level. Our QFB World Elite MasterCard Charge Card will allow our affluent clients to enjoy personalized offers, priority status and impeccable hospitality wherever they go. It is their passport to a richer and more exclusive lifestyle.”

Safdar Khan, Area Business Head, Qatar, Oman and Kuwait, MasterCard commented, “This is the first metal payment card to be issued in the MENA region, and we are pleased to introduce this innovative product with QFB. Qatar is an important market for MasterCard, and we will continue to grow our Shari’ah- compliant offerings with financial institutions as we develop tailored payment solutions to suit consumers’ lifestyles in the country. The World Elite MasterCard cards have become synonymous with unparalleled benefits and offers across the globe, and we believe that affluent consumers in Qatar and across the region will find the offering equally rewarding.”

Bhairav Trivedi, Chief Executive Officer, Network International, added: “We are delighted to partner with QFB, in its endeavor to meet the contemporary needs of its High Net Worth clients. This partnership further validates our ability to offer an unrivalled range of end-to-end payment solutions to our partner companies in the Middle East. We are confident that NI’s tailored services will add significant value to the bank’s potential clients. We look forward to a rewarding relationship with QFB and further broadening this partnership in the years to come.”

The introduction of this unique metal Shari’ah-compliant charge card is the first as QFB moves beyond investment banking to a Shari’ah-compliant financial institution offering a full suite of products and services. QFB will continue to play a focal role in investment banking. Since inception, QFB has managed to generate profits annually and pay progressive dividends to its shareholders.  QFB’s future plans include the introduction of further wealth management services, opening of its first iconic branch and listing on the Qatar Exchange.