Bank of Khyber, JCB join hands on issuing debit card in Pakistan

04:25 PM | 4 Sep, 2015
Bank of Khyber, JCB join hands on issuing debit card in Pakistan

ISLAMABAD (Staff Report) - The Bank of Khyber (BOK) and JCB International Co. Limited, the international operations subsidiary of JCB Japan on Friday entered in to an agreement for the issuance

of JCB debit cards in Pakistan.

The international debit card will facilitate BOK's customer with the benefits of both point of sale and ATM cash withdrawal across Pakistan and globally at locations in over 190 countries and territories.

The signing ceremony was attended by Hiroshi Inomata, Japanese Ambassador in Pakistan and it was signed by Shabeer Ahmad Sheikh, Executive Vice President and Group Head Operations on behalf of BOK and Kimihisa Imada on behalf of JCBI here at a signing ceremony.

The ceremony was attended by Kimihisa Imada, Deputy President of JCBI along with his delegation, Dr Hammad Awais Agha, Chairman BOK Board of Directors, Ahmad Hanif Orakzai, member board of directors, Shams ul Qayyum, Managing Director BOK.

BOK and JCB Debit Card members will not only be enjoying the facility of 1-link networks point of sale and ATMs cash withdrawal in Pakistan, around the globe but shall also have the convenience of interbank transfer of funds and payment of utilities bills through all ATMs in Pakistan. This will bring added value to the services rendered by BOK to its customers.

JCBI and 1-link entered in to a strategic partnership to introduce JCB Debit Cards in the country which would be issued by member banks and can be accepted at point of sale and ATM through the 1-link network.

Speaking on the occasion, Hiroshi Inomata said the two countries have long history of good relationship which is strengthening with the passage of time.

"I am glad to see that more and more companies from the two countries are collaborating in various fields", he added.

Shams-ul-Qayyum said "It is a great occasion for BOK that JCBI a world renowned name in the payment card industry entered in Pakistan's financed industry".

He said BOK also takes this opportunity to offer JCBI its services for further interactions on mutual beneficial basis.

He said Japan has also been helping the economy of Pakistan and "we always acknowledge Japan's government and semi-government institutions for technological assistance in various fields".

Kimishisa Imada said that issuance of debit card with BOK would be a great opportunity for JCBI in Pakistan. In JCB's global expansion strategy, he said "we view Pakistan to be a market with much potential because of its growing economy and the growth of the card payment market".

He said the JCB believe that it can offer its business partners the benefit of its international experience and flexible approach to help growing their business and build a win-win proposition for all.