Premier Bank Partners with Mastercard to Launch Shari'ah-Compliant Payment Cards in Kenya

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Premier Bank, in collaboration with Mastercard, has unveiled a range of Shari’ah-compliant debit, credit, and prepaid cards in Kenya.

The partnership was announced by Premier Bank Kenya’s CEO, Osman Ahmed, and Mastercard’s Senior Vice President for East Africa, Shehryar Ali.

The new cards integrate advanced contactless payment technology with global usability, providing premium benefits such as lounge access via the World Elite Card, travel insurance, and exclusive merchant offers. These include partnerships with brands like Carrefour, Uber Eats, KFC, and major airlines.

Speaking at the launch, Osman Ahmed expressed his enthusiasm for the collaboration.

“We are excited to embark on this transformative journey with Mastercard. The Premier Mastercard suite reflects our commitment to delivering innovative financial solutions that cater to the evolving needs of our customers. Together with Mastercard, we aim to set new standards for digital banking in Kenya,” said Osman Ahmed.

“Our collaboration with Premier Bank is a testament to Mastercard’s dedication to advancing financial inclusion through innovative and responsible solutions.” he added.

Shehryar Ali highlighted the strategic importance of the initiative in fostering financial inclusion.

“This initiative is not merely a product launch. It is a strategic move that exemplifies our commitment to enabling communities with secure, convenient, and tailored financial services. As Kenya continues to embrace digital transformation, this partnership will play a pivotal role in shaping a more inclusive financial landscape.” stated Ali.

The introduction of these Shari’ah-compliant payment cards is aimed at catering to Kenya’s diverse population, addressing religious and lifestyle preferences while advancing secure and innovative banking solutions.

To celebrate the launch, Premier Bank is offering promotional incentives, including cashback rewards and store discounts for new debit card users.

Read: DTB Kenya, Premier Bank Somalia Introduce Wearable Payment Technology

This partnership builds on Mastercard’s earlier collaboration with I&M Bank in July, where they launched Business Credit Card solutions to support corporate clients in managing expenses and global operations.

The Business Card Proposition consists of the Business credit card and the World Business Credit Card, both targeted at Business and corporate banking segments.

The I&M Bank’s Mastercard Business and World Business Credit Cards are designed to meet the diverse needs of companies looking to effectively manage employee operational costs by offering multiple solutions in one card for business related travel, entertainment and other miscellaneous expenses.