Ahmad Meshari, Acting CEO QIB, receiving the PCI DSS certificate from Rajat Mohanty, CEO Paladion Networks
Qatar Islamic Bank announced yesterday that it has achieved compliance with the Payment Card Industry Data Security Standard (PCI DSS) version 2.0.
The PCI DSS Compliance Certificate was received by QIB Acting CEO Ahmad Meshari from Paladion Networks CEO, Rajat Mohanty.
QIB was awarded the PCI DSS standards for its entire range of payment card affiliated services across all its branches and banking channels, including ATM, CDM, Internet banking, mobile banking, and contact centre.
PCI DSS compliance is required by all merchants and service providers that store, process, or transmit cardholder data and applies to all payment channels, including retail and e-commerce by the Payment Card Industry Council, a consortium of the major card brands i.e. Visa, MasterCard, American Express, JCB and Discover. Adhering to the PCI DSS compliance requirements represents a bank’s best protection against card holder data thefts.
Being in compliance with the PCI DSS Standard is crucial for managing risks, reducing losses and ensuring the protection of customer data.
Rajat Mohanty, Paladion Networks CEO said: “With its years of experience and expertise and pool of Qualified Security Assessors (QSA), Paladion ensured that QIB implemented practical and effective solutions to meet one of the most demanding and rigorous security standards in the industry.”