September 8th, 2008
3:19 pm
Following successful certification for Visa Smart Debit Credit (VSDC) issuing, Qatar’s largest Islamic Bank, Qatar Islamic Bank (QIB), has announced the rollout of its first EMV Visa Electron debit card with the assistance of TSYS’ PRIME suite of solutions.
Having deployed the PRIME card management system since 2003, QIB added PRIME Perso, TSYS’ value-added personalisation system, to form an end-to-end solution for issuing EMV cards in-house.
The solution will also underpin QIB’s future operations to issue Visa Classic, Visa Platinum and Visa Gold credit cards later this year.
‘By leveraging PRIME’s modular architecture, we were able to swiftly implement PRIME Perso to form a single, integrated solution for our EMV chip card launch,’ said Abdul Latif Al Meer, general manager of retail at Qatar Islamic Bank. ‘We are now in a position to benefit from all the economic and operational advantages relating to one solution, one vendor.’
‘We pride ourselves in delivering added-value solutions on time and within budget, and our most recent project with QIB attests to this,’ said Jaffar Agha-Jaffar, managing director, TSYS MEA. ‘PRIME Perso enables QIB to issue chip cards from its branches, thereby increasing both operational efficiency and security to its customers.’
PRIME Perso operates in conjunction with PRIME Issuer and is compliant with VSDC and MasterCard M/Chip. Its capabilities include all aspects of personalisation, including managing and processing enriched cardholder data, to final card production and embossing.
Tags: Finance
September 7th, 2008
3:16 pm
Al Hilal, the newest face in Islamic banking, has announced Etihad Airways as one of its first strategic airline partners.
Within the bank’s first few months of operations, the establishment of the relationship marks Al Hilal’s entry into the Islamic banking sector as a major player, setting itself up for a significant contributing role in the UAE economy.
Mohamed Jamil Berro, CEO, Al Hilal Bank said: ‘We are pleased to announce our partnership with Etihad Airways. Having cemented our relationship with a company that is already known for its progressive and industry-changing practices, we feel it particularly appropriate that Etihad Airways is one of our first airline customers.’
‘This agreement is an ideal step forward on our path to become a critical player in the growth and economic development of the UAE,’ continued Berro.
Al Hilal Bank has already established itself as a key player in the local financial sector and has partnered with a number of strategically significant institutions and government bodies within the UAE.
James Hogan, chief executive officer of Etihad Airways, said: ‘These are exciting times for Etihad as the airline continues to grow and establish itself on the global stage. It is, however, equally important for us to develop and nurture strong relationships in the local market, especially with partners which share our vision and objectives in Abu Dhabi.’
‘We have every confidence that our corporate banking agreement with Al Hilal will meet our financial objectives and we look forward to working with the bank in developing our Sharia’a compliant banking activities, especially in the area of finance and investments.’
In its initial stages of operation, Al Hilal Bank has broken new ground in creating a more approachable service offering than what has been traditionally available in the market, while maintaining Sharia’a compliance.
An example of the bank’s fresh new take on banking is the company’s innovative format for consumer interaction, the Financial Mall.
By providing Al Hilal patrons a holistic atmosphere where customers can not only bank but engage in a specialized experience catered to their individual needs, Al Hilal has set a new standard in the banking sector.
With this unique infrastructure in place, Al Hilal expects to enjoy enormous success very quickly.
With its innovative approach to Islamic finance, customer service and location, it has already captured the imagination of customers and soon foresees growth beyond the national boundaries of the UAE.
Tags: Finance, Tourism
