MasterCard partnered with Al-Arafah Islami Bank to launch the MasterCard Islamic debit, credit and prepaid cards in Bangladesh.

The cards will be fully compliant with Islamic Shariah laws and will offer a “world of ease” for the cardholders, MasterCard said in a statement yesterday.

The event saw the introduction of five new MasterCard cards in the bank's repertoire. The cards will offer the lowest monthly compliance fees, 50 days without any additional charges, along with discounts at over 600 merchants and vendors.

Jamilur Reza Choudhury, vice-chancellor of Asia Pacific University, attended the launching ceremony as the chief guest along with Badiur Rahman, chairman of Al-Arafah Islami Bank, and Syed Mohammad Kamal, country manager of MasterCard Bangladesh.