Businesses & Financial News

Sudanese bank, Faisal gets its first Mastercard license

Faisal Islamic Bank (FIB) in partnership with Network International, becomes the first indigenous Sudanese bank to obtain a card issuing and acquiring license.

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,” 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.

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