PIB launches its prepaid card

Palestine Islamic Bank (PIB) just launched its prepaid card, in an effort to expand its various digital banking services and e-payment solutions offered to customers.

The prepaid card, available at the Bank’s branches and offices, allows customers to easily make purchases through local and international points of sale. The card is safe to use for online purchases, as its balance is topped up as needed.

Dr. Imad Al-Sadi, General Manager of PIB, stated that: “Despite the difficult conditions and challenges faced by our people, business continuity and achievements form an importance aspect of resilience.” In this respect, he noted that launching this card falls in line with the Bank’s digital transformation strategy and forms a part of the strategic partnership with MasterCard.

Al-Sadi mentioned that the continuous achievements of PIB and its regular launch of special products and services, despite all circumstances and challenges, would not have been possible if it were not for the guidance of the Board of Director, its proactive planning, and efficient implementation by the Bank’s administration under the supervision of the Sharia Supervisory Board ensuring that the Bank’s business is Sharia-compliant.

He added: “The launching of the prepaid card is aligned with the Bank’s consistent efforts to meet the growing needs of customers, namely the youth, and enabling them to swiftly and easily access banking services round the clock thanks to various advanced services and products. Furthermore, the offered privileges and services further reiterate that Islamic banks are able to achieve their aspiring digital transformation plans while abiding by Sharia principles and standards.”

Al-Sadi also noted that the launch of this card is in line with the orientations of the Palestine Monetary Authority aimed at encouraging the use of digital services and e-payment solutions to replace cash payments, namely since such practice fosters economic development and expands financial inclusion in Palestine.

It is worthy to note that PIB is periodically holding awareness gatherings and panels in line with its efforts aimed at raising awareness on Islamic banking services in particular and banking services in general, in order to clarify such concepts to the public, thus contributing to fostering financial inclusion in Palestine.