Bank Islam and Mastercard have launched the Shariah-compliant Bank Islam Mastercard Debit Card-i.
The card offers cardholders benefits including cashback on certain purchases.
To mark the launch, and for a limited time, Bank Islam Mastercard Debit Card-i and Al-Awfar investment account holders will receive 1% cashback on eligible health and wellness purchases, valid until 31 August 2025.
Al-Awfar account holders are also eligible for a yearly prize pool exceeding RM18 million, which includes cash, vehicles, and gold.
The Al-Awfar programme is a Shariah-compliant investment account based on the Mudarabah profit-sharing concept, promoting ethical investing.
The Bank Islam Mastercard Debit Card-i facilitates online and contactless payments and is accepted globally.
Bank Islam will donate RM2 to Sadaqa House for each card issued from 13 February 2025.
New Al-Awfar account holders who deposit a minimum of RM1,000 and apply for the debit card will receive a gift.
Mizan Masram, Group Chief Business Officer, Group Retail Banking of Bank Islam, said,
“The Al-Awfar programme embodies Bank Islam’s vision of empowering customers to achieve their aspirations while promoting financial inclusivity. By partnering with Mastercard, we are able to offer innovative solutions that blend rewards with convenience.
The introduction of the Bank Islam Mastercard Debit Card-i is another step forward in providing our customers with exceptional benefits, a secure payment experience, and opportunities to contribute to sustainability initiatives.”
Beena Pothen, Country Manager, Malaysia and Brunei, Mastercard, said,
“The launch of the Bank Islam Mastercard Debit Card-i reflects Mastercard’s commitment to providing Shariah-compliant payment solutions that enhance banking experiences for Malaysians.
It also demonstrates a shared vision with Bank Islam to co-create meaningful banking products that align with consumer values and needs reinforcing a collective aim to drive innovation and make a positive contribution to the community.”
Featured image: (From left to right) Wan Zulhesham Mohd Zin, Head, Business Retail Deposit – Deposit & Cards of Bank Islam, Zamree Mohamed, Director, Retail Banking Distribution of Bank Islam, Amir Mutalib, Director, Account Management, Malaysia, Mastercard, Mizan Masram, Group Chief Business Officer, Group Retail Banking of Bank Islam, Devesh Kuwadekar, Vice President, Account Management, Malaysia, Mastercard, Mohd Noor Jab, Head of Deposit & Cash Management of Bank Islam, Ahdan Shariff, Head of Card Business of Bank Islam
To mark the launch, Bank Islam Mastercard Debit Card-i and Al-Awfar investment account holders will receive 1% cashback on eligible health and wellness purchases until 31 August 2025.
