MANAMA, BAHRAIN: Al Salam Bank recently introduced the signing of an unique partnership settlement with Visa, renewing its collaboration with the worldwide funds technology company.
This follows Al Salam Bank’s acquisition of choose assets from Ithmaar Holding, together with the consumer banking enterprise of its wholly-owned subsidiary, Ithmaar Bank.
The strategic settlement goals to present enhanced banking expertise and diversified payment strategies for existing Visa cardholders as Al Salam Bank forges forward ensuring a seamless integration of its client card portfolio post-acquisition, enabling the Bank to leverage the best-inclass technology and global attain of Visa in providing an innovative suite of services backed by pioneering payment technology.
Within the framework of the partnership agreement, Al Salam Bank will start aligning all of its debit, credit score and pay as you go card portfolios, the place Visa has secured exclusivity over Al Salam Bank’s entire card portfolio together with premium merchandise such as Visa Infinite and Visa Signature.
Additionally, Visa will present all of the requisite support to Al Salam Bank in its post-acquisition phase of integrating its card portfolio to unlock value-adding alternatives for clients, enabling them to profit from a diversified, extremely environment friendly payment method in addition to an elevated banking experience.
Speaking on the partnership, Mohamed Buhijji, Head of Retail Banking at Al Salam Bank, said: “With Visa’s partnership, we will proceed to construct on the shared success story we have cemented over the years, enabling us to collectively ship innovative merchandise and services which have earned our clients’ trust.
This step is in line with the Bank’s transformation strategy, which focuses on leveraging digitally empowered monetary applied sciences to present innovative solutions. We look forward to enhancing the banking expertise and providing premium services to our clients, as a half of our strategic partnership.”
Ali Bailoun, Visa’s Regional General Manager for Saudi Arabia, Bahrain and Oman, said: “Al Salam Bank has been a longstanding partner of Visa, and we’re happy to signal this unique partnership agreement. Over the years, we have labored closely with Al Salam Bank to supply seamless, secure, and rewarding payment experiences to Al Salam Bank cardholders.
Through our partnership, we stay dedicated to rising digital funds by developing innovative merchandise and delivering customer-centric options to profit cardholders.”