IBS Bank introduces World Elite Mastercard debit card in Somalia

 IBS Bank has partnered with IBS Bank Somali to launch the World Elite Mastercard debit card, providing its high net worth cardholders with a range of benefits and privileges that can be accessed at home and abroad. This is the first launch of World Elite Mastercard in Somalia.

During the launch ceremony held at Mogadishu recently, Mahat Mohamed Ahmed, the CEO, IBS Bank, said: “By introducing World Elite in the Somalia market, IBS Bank is implementing its wider strategy of opening up the market to more exclusive financial services by deploying new and exciting offerings. In this agenda, IBS Bank is determined to introduce innovative products that create convenience in banking to meet the ever changing lifestyles of the people in Somalia and the wider region, thereby growing the financial sector”.

Speaking on the uptake so far, Mahat added: “Since its introduction, the Mastercard World Elite cards have garnered an unprecedented demand demonstrating that the market is ready for alternative banking services that meet the needs of different segments of the market. Being the first bank in Somalia to provide the mastercard world elite debit, IBS Bank has placed itself at the forefront of innovative banking in the region”.

The new offering gives cardholders an unrivalled array of specially curated travel, lifestyle and insurance benefits. These include access to handpicked luxury experiences and shopping opportunities in cities around the world, discounted car rental and chauffeur services, complimentary nights at select hotels and resorts, as well as access to premium airline services.

Adam Jones, Area Business Head for East Africa, Mastercard Middle East and Africa, commented: “We are delighted to have IBS bank bring this product to their valued customers. The World Elite Mastercard is our premium card offering that unlocks unique travel experiences, giving preferred access to our most exclusive offers, and outstanding benefits.” He continued “As Mastercard, we are driven by innovation and a desire to provide fast reliable and secure ways to make payments. We value our relationship with IBS Bank and will continuously support with solutions to cater for the bank’s needs and its growing customer base.”

Cardholders also have the added convenience of a dedicated 24/7 concierge service to book travel or exclusive lifestyle experiences such access to the best and exclusive events, reserving the chef’s table for a special anniversary, planning the getaway of a lifetime and lining up a celebrity guest for a birthday celebration.

A Lounge Key ensures that travel always feels like a privilege for IBS Bank’s customers with unlimited, complimentary access to over 1,000 lounges in more than 450 cities in over 135 countries, worldwide.

For additional peace of mind when travelling, the offering also includes several insurance benefits including travel medical insurance, vehicle collision damage waivers, and luggage and purchase protection. A plug and play points’ exchange rewards programme also allows IBS Bank’s customers to exchange their points for major loyalty currencies at airline and hotel programmes.

The IBS Bank World Elite card is powered by Mastercard’s contactless technology, providing cardholders with a fast, convenient and safe way to pay for goods and services simply by tapping their card against a contactless-enabled card reader. It also enjoys unparalleled acceptance at millions of Mastercard-branded merchant locations and ATMs in more than 210 countries and territories worldwide. Non-IBS customers can also apply for this card at any IBS bank branch.

IBS Bank is a financial bank with headquarters in Mogadishu. It is a fully fledged bank offering a wide variety of sharia banking services in both retail, corporate, mortgage, trading and treasury services.


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