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Faisal Islamic Bank obtains Mastercard license through Network International partnership

By Pavithra R

February 03, 2021

  • Africa
  • Faisal
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Faisal Islamic Bank obtains Mastercard license through Network International partnership

Faisal Islamic Bank (FIB) in partnership with Network International, the leading enabler of digital commerce across Africa and the Middle East has announced becoming the first indigenous Sudanese bank to obtain a card issuing and acquiring license from Mastercard.

Under the collaboration with Network International, Faisal Islamic Bank will issue Mastercard branded debit, credit and prepaid payment cards in Sudan for online, in-store, and ATM use. 

“We are delighted to partner with Mastercard and Network International on this huge milestone, which will enable the bank’s customers to withdraw funds from ATMs globally, shop online, and transact at millions of merchants around the world that accept Mastercard payment cards. Faisal Islamic Bank is fully committed to broadening and growing the payments landscape in Sudan, which will positively impact the economic growth of our nation. We look forward to introducing best practices and market-centric strategies which will benefit our customers,” said Moawia Ahmed Elamin, CEO of Faisal Islamic Bank, Sudan.

The partnership will enable bank customers and businesses with greater choice and convenience in shopping. The bank will connect local businesses to the Mastercard network using Network International technology, helping people and businesses experience more convenient, secure and easy-to-use ways to pay everywhere Mastercard is accepted.

“Mastercard is continually working to connect more people to the benefits of a world beyond cash across Africa by offering innovative solutions for different needs. In Sudan, we are committed to developing and growing the payments landscape and are delighted to partner with Faisal Islamic Bank and Network International to strengthen the domestic payment ecosystem in Sudan, and further increase the adoption of digital payment solutions through the convenience of cards,” said Raghav Prasad, Division President for Sub-Saharan Africa, Mastercard.

Faisal Islamic Bank was established in 1978, as the first Islamic bank in Sudan. The Bank provides several personal banking services and products and various business banking solutions and financial products.

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