September 5th, 2024
Meezan Bank, Pakistan’s leading Islamic bank and Mastercard, have announced the renewal of their strategic partnership. This collaboration, formalized through a Memorandum of Understanding (MoU) signed by Syed Amir Ali – Deputy CEO of Meezan Bank, and Mr. J. K. Khalil – Regional President of Mastercard, aims to enhance Meezan Bank’s debit cards portfolio, transforming the banking experience for its customers across Pakistan. Also present at the occasion were Mr. Irfan Siddiqui – President & CEO, Meezan Bank, Syed Iftikhar ul Haq – Group Head Consumer Finance, Meezan Bank among other senior representatives from both the organizations.
As part of this renewed partnership, Meezan Bank, with the fastest growing debit cards portfolio powered by Mastercard, will further expand its premium card offerings. The Bank will introduce a range of exclusive benefits designed for the evolving needs of its affluent customers. This includes enhanced convenience, access to bespoke travel and lifestyle benefits and an elevated digital banking experience.
The announcement builds on a long relationship between the partners, which recently saw Meezan Bank becoming the first bank in Pakistan to host a Mastercard-led cyber security workshop, marking the launch of Mastercard’s new cybersecurity service in Pakistan.
“The partnership between Meezan Bank and Mastercard is driven by a shared vision to transform the payment landscape in Pakistan,” said Mr. Irfan Siddiqui, President & CEO of Meezan Bank. “We are pleased to forge this strategic collaboration, which builds on our longstanding relationship and promises to further strengthen the country’s payment solutions infrastructure.” He added, “Together, we aim to deliver secure, convenient, and Shariah-compliant debit card products that will significantly enhance the customer experience.”
“At Mastercard, we are committed to empowering our partners through innovative financial products and solutions that build confidence, convenience and trust. We’re excited to partner with Meezan Bank on its phenomenal growth journey, expanding our alliance, with bespoke and customized solutions to meet the ever-evolving needs and aspirations of affluent Islamic Banking consumers in Pakistan, while keeping transactions safe, secure and seamless,” said Arslan Khan, Country Manager, Pakistan at Mastercard.
This strategic partnership between the two organizations, reinforces their dedication to innovation in Pakistan’s financial sector while also highlighting the ongoing efforts to provide Islamic banking customers with tailored solutions that meet their unique financial needs.
About Mastercard:
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.