MasterCard and Tabung Haji launch non-banking Islamic debit card

arabmoney

MasterCard and Lembaga Tabung Haji have unveiled the innovative Tabung Haji Debit-i MasterCard that will allow Malaysian Muslims to use it not only for their pilgrimage in Makkah and Madinah but also for everyday convenience. The launch of the Shariah-compliant card was proudly officiated by the Prime Minister, YAB Dato’ Sri Mohd Najib Tun Razak.

The Tabung Haji Debit-i MasterCard will enable cardholders to pay for purchases at over 38 million merchant locations around the world including in Saudi Arabia. They will also benefit from the convenience of accessing cash at more than 2.5 million ATMs worldwide. Cardholders’ purchases are automatically deducted from their accounts without incurring interest charges, or creating monthly bill payments.

“MasterCard is deeply committed to working with Tabung Haji to deliver a comprehensive range of innovative and tailored Shariah-compliant payment solutions to its depositors. With this collaboration, Tabung Haji depositors will enjoy the convenience of a globally accepted MasterCard Debit card and give them access to their accounts whether at home in Malaysia, travelling to Makkah or Madinah as part of their pilgrimage or other locations,” said Matthew Driver, President, South East Asia, MasterCard.

This collaboration is significant in support of Malaysia as a key hub for Islamic Finance and its aspirations to have an innovative, competitive and thriving financial services industry as a key component of the economy. The launch also accelerates the country’s migration to electronic payments.

“We are honoured to be able to enable this important product with the safety, security and convenience of the global MasterCard network and look forward to a fruitful partnership with this respected institution,” Matthew Driver added.

Tabung Haji currently has 8.4 million depositors and a network of 120 branches with more than 6,000 touch-points nationwide which makes it one of the largest Islamic Financial Institutions in Malaysia.

Related reading

code
copenhagentaa
tsq_349b_blog_postimage-1474674402569
red mouse cursor button in between keyboard letters

Leave a comment