The new offers can be accessed online or in retail stores that accept Visa cards
Visa has launched new debit and credit cards in Bangladesh, according to Dhakatribune.com.
The launch was done in line with Islamic Banking Principles and was guided by Shariah laws. Now, Islamic card users can enjoy various categories such as travel, dining and even shopping.
The launch also gives banks that follow Islamic and traditional Shariah principles the go-ahead to offer Visa card variants that are compliant with Islamic banking laws. There are various categories of cards including Platinum, Gold, Classic and signature.
Each category has different benefits such as Umrah and Hajj travel, health care and lifestyle.
The financial provider also has a dedicated website that will offer info about various categories such as shopping, lifestyle, redeeming offers linked to the new cards, and travel, among others. Some issuing banks may even offer extra benefits such as making Zakat donations.
Islamic finance rules 25% of the banking landscape in Bangladesh. The country also has 35% of Islamic Banking customers globally. Visa has also introduced other products in Islamic regions such as the Middle East, Malaysia and Indonesia. Issuing financial institutions can also prohibit some categories such as dating, gambling and alcohol. Visa looks to introduce Islamic Banking cards in the Bangladesh market in July 2021.
We’ve reported that researchers developed fabric-friendly NFC sensors.