MasterCard Worldwide has signed a five-year Premium Debit MasterCard exclusivity agreement with Qatar Islamic Bank (QIB), a MasterCard issuer.

As part of the latest multi-year MasterCard agreement, QIB will issue PIN based Premium Debit Cards to its VVIP and affluent client base. This agreement will add value in the form of lounge access, concierge service and many other privileged benefits.

According to MasterCard, the strategic agreement will streamline QIB’s Premium Debit MasterCard issuance, while offering more benefits and enhanced insight as the bank manages its premium debit portfolio.

Salah Jaidah, CEO at QIB, said: “This collaboration reflects the bank’s vision to offer innovative MasterCard payment solutions to its customers. We have worked with MasterCard since 2003, and have developed a strong, value-based relationship that meets the evolving needs of QIB MasterCard cardholders.”

Eyad Al-Kourdi, vice president and country manager for Southern Gulf – UAE, Qatar & Oman at MasterCard Worldwide, said: “This agreement underscores our commitment to work with our customers to develop products and solutions that are customized to cater to the diverse needs of consumers. MasterCard is delighted to cooperate with Qatar Islamic Bank to develop a payment solution tailored to appeal to the affluent consumer.”