Premier Bank and Mastercard Introduce Shari’ah-Compliant Payment Solutions in Kenya

Premier Bank, a leading Islamic financial institution in Kenya, has announced a collaboration with Mastercard to introduce an innovative suite of Shari’ah-compliant debit, credit, and prepaid cards. This collaboration marks a significant milestone in delivering secure financial solutions, tailored to meet the diverse needs of Kenya’s population and the wider market.

This collaboration represents Premier Bank and Mastercard’s shared commitment to redefine the digital banking experience for individuals and businesses in Kenya. The new Premier Mastercard suite will offer advanced features including contactless payments and global acceptance, while also ensuring that all customers can access comprehensive financial services that align with their values and lifestyles.

“We are excited to embark on this transformative journey with Mastercard. The Premier Mastercard suite reflects our commitment to delivering innovative financial solutions that cater to the evolving needs of our customers. Together with Mastercard, we aim to set new standards for digital banking in Kenya,” said Osman Dualle, CEO of Premier Bank Kenya.

“Our collaboration with Premier Bank is a testament to Mastercard’s dedication to advancing financial inclusion through innovative and responsible solutions. The introduction of Shari’ah-compliant Premier Mastercard suite is not merely a product launch. It is a strategic initiative that exemplifies our commitment to enabling communities with secure, convenient, and tailored financial services. As Kenya continues to embrace digital transformation, this initiative will play a pivotal role in shaping a more inclusive financial landscape that caters to the evolving needs of individuals and businesses across the country,” said Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard.

Through this collaboration, Premier Bank and Mastercard will provide customers with seamless access to digital payments, robust security, and global reach. The Premier Mastercard suite will enable customers to safely and conveniently make online payments, transact at physical stores, and withdraw cash from Premier Bank ATMs across the country.

In addition, the Premier Mastercard suite provides several benefits, including Lounge Access through the World Elite Card, travel insurance, and localized offers with merchants such as retail shopping discounts at Carrefour, dining deals through Uber Eats and KFC, and travel discounts with major airlines. To celebrate the launch, Premier Bank is offering special promotions, including cashback offers and discounts at selected stores for customers who sign up for the new debit cards.