Faisal Islamic Bank Becomes First Sudanese Bank to Obtain Mastercard License
Faisal Islamic Bank (FIB) in collaboration with Network International, an enabler of digital commerce across Africa and the Middle East, has become the first indigenous Sudanese bank to obtain a card issuing and acquiring license from Mastercard.
Through the bank’s partnership with Network International, Faisal Islamic Bank will issue Mastercard-branded debit, credit and prepaid payment cards in Sudan for use online, in-store and at ATMs. FIB will also connect local businesses to the Mastercard network using Network International technology, helping people and businesses enjoy more convenient, secure and easy-to-use ways to pay everywhere Mastercard is accepted across the globe.
“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 have a positive impact on 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.
“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.
“Network International is delighted to partner with Mastercard and Faisal Islamic Bank to boost the adoption of electronic payments in Sudan, as part of our ongoing commitment to driving digital payments in emerging markets. Running on market leading technology, our proposition will enable Faisal Islamic Bank customers to transact globally and bring more consumers and merchants into the payment ecosystem,” said Hany Fekry, Managing Director – Egypt and Deputy Managing Director - Africa, at Network International.
Faisal Islamic Bank, based in the capital Khartoum, was established in 1978, as the first Islamic bank in Sudan. The Bank provides a number of personal banking services and products, along with various business banking solutions and financial products. It has over 1,700 employees operating at 46 branches distributed nationwide, with an ATM network of over 200 machines.
Through its network and innovative technology, Mastercard continues to expand wider adoption of digital payments in order to deliver on its global goal of connecting 1 billion people to the digital economy by 2025.