QIB launches PrePaid VISA Card

QIB (aka Qatar Islamic Bank) has brought out the QIB Hadiyati VISA Prepaid card as "the newest product in its line of innovative banking solutions."

QIB is the first Islamic financial institution to offer the Prepaid card which is Shari'ah-compliant.

The QIB Hadiyati Prepaid VISA card is available in six value categories ranging from QAR 100 ($27) to QAR 5000 ($1373) and allows the card holder ease of use through Point of Sale (POS) anywhere VISA is accepted around the world. VISA has over 29 million merchants and 805,000 ATMs.

The QIB Hadiyati Prepaid VISA card looks like a credit card and can be purchased by anyone at QIB bank locations or six authorised mall booths located throughout Doha such as at City Center, Landmark, Hyatt Plaza and Villaggio, as well as at Lulu stores. The cards are fully-loaded at purchase and activated by the salesperson. There are no credit checks or debt risks with the prepaid card.

The cards have the added benefits of safety, as the card prevents the user from the hazards involved in carrying cash, and capability to make easy electronic or on-line payments. The card limits the user's spending by only allowing the amount of money previously deposited on the card to be used, giving the cardholder full control over his or her expenses.

"The card is the smart option for spending control and travel, and perfect for gift occasions such as graduations, as well as weddings and baby showers, so the happy couple may purchase exactly what they need," QIB said.

"QIB is the only Qatar bank to offer the Prepaid VISA card, the first in a series of Prepaid cards to be introduced to Qatar by the Bank. The next card to be launched will be a rechargeable version of the VISA Prepaid card," it added.