BIBD Launches New Debit Card

by Reedz on July 27, 2011

Bank Islam Brunei Darussalam Berhad (BIBD) – the largest bank in the country – today announced the launch of its new BIBD Debit Card.

At a colourful launch event and press conference held at The Rizqun, the CFO of BIBD, Hjh Noraini bte Hj Sulaiman introduced the new product to the gathering. She stated that the BIBD Debit Card is unique and the only Sharia’a compliant offering of its type in Brunei. It is based on the Sharia’a principles of Al-Wakalah and Ujr.

She also mentioned that the launch of BIBD’s new Debit Card was the most recent milestone in BIBD’s journey of transformation that began in 2009-2010 and outlined other initiatives and successes of BIBD in this journey.

The new BIBD Debit Card will help BIBD customers pay for their purchases directly at over 25 million outlets across the world wherever MasterCard is accepted – even online! All purchases are directly debited to the customer’s designated bank account. Thereby, BIBD customers will be rid of the typical inconveniences of carrying large amounts of cash and queuing at ATMs to withdraw cash. Moreover, customers will get the functionality of a credit card without having to incur any debt which will provide them with great peace of mind.

The BIBD Debit Card can also be used to withdraw cash at over one million ATMs worldwide that display the MasterCardTM or CirrusTM logos. Customers may withdraw cash from their account without any charge at any of BIBD’s 47 conveniently located ATMs across Brunei.

The new BIBD Debit Card has several enhanced security features. Apart from PIN, it has an EMV chip installed which provides high levels of encryption thereby preventing misuse. Furthermore, a sophisticated fraud early warning system detects any irregularity in transaction patterns which results in the cardholder being notified immediately.

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