Qatar Islamic Bank (QIB) has partnered with telecom company Ooredoo to introduce Mastercard co-branded corporate credit cards.

The new offering is designed for corporates, business owners and SMEs and enables them to manage their purchases and expenses.

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The QIB corporate credit card comes in three sharia-compliant variants- Purchasing, World and World Elite cards.

The Purchasing Card can be used to settle suppliers’ payments, utility bills and carry out regular expenses.

Additionally, corporates can use Purchasing card in combination with Mastercard reporting and expense management solutions to receive direct savings and better visibility into payment data.

The World and World Elite cards are designed for travel and entertainment purposes. They will also similar benefits when used in combination with reporting and expense management solutions.

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All three cards also offer reward-based spending and other benefits to the users. It includes Nojoom points from Ooredoo with every purchase, as well as discounts on car rentals, air-tickets and hotel bookings.

The cardholders also receive access to premium lounges in more than 600 airports globally.

QIB general manager for wholesale banking group Tarek Fawzi said: “The launch of our co-branded credit cards is an example of our customer-centric approach, as we have a duty to our clients to always surpass their expectations.

“The partnership with Ooredoo and Mastercard on launching the first corporate credit cards comes with strategic importance, as we believe in rewarding our clients in the best manner possible.”