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January 11, 2021

Ithmaar Bank signs credit and prepaid cards processing deal with Sinnad

Bahrain’s Ithmaar Bank has signed processing agreement with Sinnad, a provider of card processing services in the Middle East and Africa.

As per the agreement, Sinnad will allow Ithmaar Bank to operate its cards services with “state-of-the-art” system and services.

Sinnad will also allow the Islamic bank to roll out new products and services in a more protected environment.

Ithmaar Bank general manager for Retail Banking Group Mohamed Janahi said: “The agreement with Sinnad comes to expand our services into a new era of excellence. The combination between the bank’s ambitious to lead in the market and Sinnad’s state of the art cards solutions and expertise in this field, shall result in a tremendous success in enhancing the payments offering,”

Sinnad general manager Rana Almaeeli commented: “By the terms of the agreement, Ithmaar Bank shall utilise our end-to-end secured and reliable solutions and will allow its customers to enjoy topnotch Card services that are marked with convenience, reliability and confidentiality.”

Almaeeli added: “Gaining one of the largest Islamic banks in Bahrain on Sinnad’s platform is a major milestone in our strategic expansion plan.

“As we have always aimed to diversify our services, Sinnad has adopted all Sharia-compliant concepts and have always been keen to better cater to our banks’ needs through a wide variety of services and products. We look forward to work with many more Islamic banks in the near future.”

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