Meezan Bank, Pakistan’s leading Islamic bank, has announced the launch of its Foreign Currency (FCY) Debit Card for Pakistani exporters and freelancers who hold an Exporters’ Special Foreign Currency Account (ESFCA) with the Bank.
Powered by Mastercard, the FCY Debit Card is accepted worldwide and simplifies international payments, making it easier to manage business transactions abroad as well as make payments at retail outlets worldwide. Exporters and freelancers can now access their ESFCA account to make all types of payments, without the need for prior approval from the State Bank of Pakistan (SBP).
The new FCY Debit Card also allows customers to withdraw cash from Mastercard ATMs worldwide, track their spending in real time, and easily make cross-border payments. Additionally, the card is equipped with 3D Secure technology, adding an extra layer of protection for e-commerce transactions. For added convenience, the card is also NFC-enabled, allowing contactless payments at retail outlets worldwide.
“We are excited to introduce this new offering as part of our ongoing commitment to empowering Pakistan’s exporters and freelancers with enhanced financial tools, especially in today’s increasingly interconnected global economy,” said Syed Iftikhar ul Haq, Group Head – Consumer Finance at Meezan Bank. “Whether you’re traveling, shopping online, or conducting business internationally, the FCY Debit Card streamlines the payment process and provides a secure, efficient way to manage transactions across borders, ensuring peace of mind wherever you go.”
This partnership with Meezan Bank demonstrates our dedication to delivering innovative payment solutions that cater to the evolving needs of exporters and freelancers in Pakistan,” said Arslan Khan, Country Manager for Mastercard in Pakistan. “We congratulate Meezan Bank on this initiative to support businesses as they expand their reach in the global marketplace”