Flip through the latest issue of Gulf Weekly.
Kuwait Finance House - Bahrain (KFH-Bahrain) recently launched the first Islamic EMV (chip cards) compliant credit card in association with Visa, a Sharia-compliant offering that has been developed by KFH-Bahrain to provide greater convenience and advantages to its customers.
Holders of the new credit cards can enjoy a revolving credit facility without incurring any interest costs, just a low transparent service charge.
Khalid Rafie, head of Consumer Banking at KFH-Bahrain, said: "The Sharia-compliant credit card will offer all the advantages of today's credit cards, while remaining true to the values of Sharia and the principles of Riba-free Islamic banking that KFH-Bahrain proudly represents. Besides that, it is the first Islamic EMV compliant credit card, providing ultimate security to our customers.
"The new card will create a marked difference to the value proposition that is currently available in the market.
"The introduction of this new card reinforces the message that KFH-Bahrain is continually developing its products and services to suit the needs of its customers.
"It is available in a choice of Gold and Classic. The credit card has no joining fee, is free from 'Riba' or interest, and comes at a lower cost for revolving credit users."
This launch is in line with the bank's strategy, which is working on providing superior service with the highest rates of excellence according to standards of Islamic Sharia. Providing customers with a viable alternative to traditional interest laden products, the new credit card has been designed to offer convenient Shariah-compliant payment methods.
KFH-Bahrain's consumer banking and finance services combine a broad range of innovative products and services with exceptional customer care.
The bank's products and financing facilities, such as the KFH-Bahrain Ijara Card, are developed with the aim of providing for the various needs of customers, which continue to increase.
Thinking innovatively and ultimately seeking to deliver superior products is at the core of the bank's strategy.
The card's most important quality is that it is accepted worldwide with the largest commercial networks, including hotels, shopping centres and malls, restaurants and petrol stations.
Furthermore, it can be used to withdraw cash from over 900,000 ATMs worldwide, and offers its holders special treatment with many privileges at a large number of service companies. These include free travel insurance, global emergency services, free additional card and many other benefits.
