Jordan Islamic Bank launches Musawamah card

Jordan Islamic Bank announced the launch of Musawamah card product in cooperation with MasterCard. The new card enables the bank’s customers to pay their purchases in installments at the cash price without adding any additional profits or commissions to the price of the goods, while making use of the paid installments by purchasing again in convenient and easy terms, through a group of merchants with whom the bank has signed an agreement for Musawamah product (Installment program at the same price as cash on the card) and includes various commercial sectors (electrical appliances, furniture, furnishings, household appliances, electronics, kitchens, heating and cooling, etc.). CEO/General Manager of Jordan Islamic Bank, Dr. Hussein Said, stated that the launch of the Musawamah card product comes in appreciation of our bank’s customers and their trust in the products, services and banking cards that our bank always seeks to innovate and develop in a new and modern way that meets the needs of customers and keeps pace with the latest technological developments and is compatible with the provisions and principles of Islamic Sharia. Which allows the card holder of our bank’s customers to pay in installments their purchases for periods of up to 36 months when using the card at any time through points of sale at the network of merchants accredited to our bank in accordance with the legal regulations. For his part, Jihad Khalil, manager of the Kingdom of Saudi Arabia, Bahrain and the Levant region at MasterCard, said: "MasterCard always seeks to work with our partners to provide the best, safe and innovative technological solutions that meet the needs and expectations of customers in the Hashemite Kingdom of Jordan and throughout the region. In this context, this cooperation with the Jordan Islamic Bank comes in launching Musawamah card to enable the bank’s customers to benefit from our advanced technologies and obtain the best financial services in line with our vision of supporting the prosperity of societies by accelerating the transition to advanced digital payment systems and reducing dependence on cash.”   Dr. Hussein Said invited the bank’s customers who wish to benefit from the advantages of Musawamah card to visit their branches to obtain the card for the first time in order to complete the issuance procedures that are subject to the terms and conditions of the bank, and to know the names of the merchants who signed with the bank (Installment program at the same price as cash on the card) is through the bank’s website  www.Jordanislamicbank.com  and the list will be constantly added and updated to include a larger group of merchants in different sectors that meet the different needs of the bank's customers.