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Bangladesh : ISLAMIC BANK launches KHIDMAH credit card

June 26, 2014

Islami Bank Bangladesh on 24 June 2014 launched shariah-based credit cards Khidmah first in the nation, to give consumers a broad variety of payment services.

People can use a credit limit of Tk 50,000 with the Khidmah silver card, Tk 2 lakh with platinum and Tk 1 lakh with the gold card.

If unable to pay back in time, the bank will not charge any interest on cardholders' expenditure.

It will instead charge a fee of Tk 500 for the silver card for a delay of one month, Tk 2,000 for platinum and Tk 1,500 for gold.

Cardholders can also supplementary cards for their family members for free.

Quasem said, credit cards are becoming popular in Bangladesh, as people do not want to carry cash. The shariah-based credit card will bring a greater amount of unbanked people into the banking system.

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Source: TendersInfo (India)

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