Barwa Bank yesterday launched a Shariah-compliant credit card, which enables customers to earn loyalty points that could be converted to Qatar Airway Privilege Club Qmiles, as part of its measures to strengthen the retail operations.
Iqbal and al-Abdullah outline the features of the credit card
Customers could get the card by either transferring their salary (minimum of QR7,000 a month) or against a cash deposit (of minimum QR15,000), Hussain al-Abdullah, head of retail at Barwa Bank, said.
The cards – which come into variants of platinum and gold – have credit limits from QR15,000 to QR100,000. For every QR8 spent through platinum and QR10 spent through gold card, the customers would get one loyalty point, which can then be fully converted to get the Qmiles, which are the rewards miles as part of Qatar Airways’ loyalty programme.
Customers could choose to pay either the full monthly balance every month or just a minimum payment as low as 3%. They have a grace period of up to 50 days. Moreover, customers also get travel protection covering them from medical emergency, personal accident, loss of baggage or money, flight delay or cancellation, purchase protection and secure wallet.
Although the cards are being offered free initially, Asif Iqbal, manager (product development and propositions), said if at all any changes would be made in the policy, it would be intimated to customers three months in advance.
On becoming a platinum member, customers receive a bonus of 5,000 Barwa loyalty points that can be converted into 5,000 Qmiles. Customers could also use their Qmiles for purchases at Qatar Duty Free at Doha International Airport and the Oryx Galleria in Doha as well for receiving upgrades and excess baggage allowances.
Stressing that the present arrangement with Qatar Airways was not exclusive; al-Abdullah said the bank was open to more tie ups in the future.