Mastercard and BankIslami Join Forces to Strengthen the Digital Payments Ecosystem in Pakistan

KARACHI – Mastercard and BankIslami have collaborated to expand the bank’s consumer and commercial card offerings and support the continued growth of digital payments in Pakistan.

Under the agreement, BankIslami will develop a broader portfolio of debit, credit and business card solutions to meet the needs of its diverse customer base, including individual account holders, micro, small & medium-sized enterprises (MSMEs) and commercial clients.

The collaboration includes a priority banking program featuring Mastercard World cards, along with Mastercard World Elite cards for affluent customers. It also covers BankIslami’s Shariah-compliant credit card program for customers across mass-market and affluent segments. The bank will also expand its Shariah-compliant offerings for corporates and small and medium-sized enterprises through debit cards and Business Payment Controls, helping businesses manage payments and optimise their supply chain processes.

In addition, Mastercard will support the launch of BankIslami’s unified loyalty platform across its card portfolio, providing customers with a consistent rewards and benefits experience.

“This collaboration with Mastercard strengthens our ability to provide customers with a broader range of Shariah-compliant card and payment solutions across individual and business banking”, said Imran H Shaikh, President & Chief Executive Officer of BankIslami. “Our goal is to make Islamic banking the preferred choice for customers by combining Shariah-compliant solutions with the convenience and capabilities they expect from modern digital banking,” he added.

“Mastercard powers commerce by connecting people and businesses through digital payment technology. Working with BankIslami, we are expanding payment options for consumers and small businesses in Pakistan, supporting the bank’s Shariah-compliant card offerings and helping more customers participate in the digital economy,” said Arslan Khan, country manager, Pakistan and Afghanistan, Mastercard.