KCB Bank has partnered with Mastercard to introduce new Islamic finance payment solutions under its Sahl Banking proposition, aimed at offering customers secure, convenient, and Shariah-compliant banking services.
The bank has launched the Sahl Card, which enables customers to make everyday purchases while accessing a range of lifestyle and travel benefits. It has also unveiled the Sahl Agency Banking network, allowing customers to deposit and withdraw cash, make payments, and access essential banking services through authorised agents.
The new products have been developed in line with Islamic finance principles, giving customers payment solutions that align with their financial values and preferences.
KCB Group Director for Strategy and Innovation, Mark Mwongela, said the bank remains committed to providing financial products that meet the diverse needs of its customers.
"We remain committed to developing financial solutions that reflect the diverse needs and aspirations of our customers. The Sahl Card represents an important step in expanding access to Shariah-compliant banking solutions by providing customers with a secure, convenient, and values-driven payment option that supports their everyday financial and lifestyle needs," he said on Wednesday.
The Sahl Card also offers exclusive lifestyle benefits, particularly for customers seeking Muslim-friendly travel experiences. Mastercard World Elite and Gold cardholders will have access to discounts and offers on accommodation, dining, shopping, and leisure activities through Mastercard's global network.
Mastercard's Senior Vice President and Country Manager for East Africa and the Indian Ocean Islands, Shehryar Ali, said the partnership supports the company's goal of building a more inclusive digital economy.
“We are actively powering an inclusive digital economy where every individual and community can pay with confidence. Our collaboration with KCB gives consumers a payment solution built around their values and lifestyle. By combining our global network with KCB's deep local expertise, we are connecting the Islamic banking community to the experiences and passions that matter most to them.”
Eligible cardholders will also gain access to The Mastercard Collection, a premium package of travel, dining, and lifestyle experiences. Additional features include spending controls, transaction alerts, concierge services, and an Islamic-themed card design tailored to the target market.