QFB launches Shariah-compliant high-end card

Qatar First Bank (QFB) yesterday announced the launch of the first Shariah-compliant metal World Elite MasterCard Charge Card in Qatar and the Mena region. The launch, which is the opening initiative in QFB’s recently-announced strategy to become a full-service Shariah-compliant institution, has been undertaken in collaboration with MasterCard. The metal QFB World Elite MasterCard Charge Card is accepted at over 35.9mn 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 that introduces privileged dining, travelling and shopping experiences in addition to providing access to prestigious venues and global events. One of the salient features of the card is the donation of a percentage of each customer’s monthly spending to Qatar-based charities such as Sheikh Thani bin Abdullah Foundation for Humanitarian Services (RAF). Emad Mansour, CEO of QFB, said: “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 personalised 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) at MasterCard, said: “Qatar is an important market for MasterCard and we will continue to grow our Shariah-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, CEO of Network International, said: “We are delighted to partner with QFB in its endeavour 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.” QFB’s plans include the introduction of further wealth management services, opening of its first iconic branch and listing on the Qatar Exchange.