Bank of Baghdad, Commercial Bank of Iraq and Ashur Bank Iraq Launch First MasterCard Card Programs in Iraq

AMWAL, an Iraqi-owned banking consortium, today announced that two financial institutions in Iraq have launched new MasterCard credit and debit card programs for consumers in Iraq.

Through its association with AMWAL, Bank of Baghdad Iraq, Commercial Bank of Iraq and Ashur Bank Iraq are the first AMWAL customer banks to begin issuing MasterCard credit and debit programs to its customers in Iraq.

Dr. Younes Brouche, E.xecutive Vice Chairman of Bank of Baghdad stated; "We are committed to deliver value-added solutions to our customers in Iraq and we are very excited about the collaboration with MasterCard, which we believe has further strengthened our payment services to our customers. This launch is testament to our commitment to better serve our Iraqi customers and extend best-of-class products and services to them."

Mr. Atheer Al Kadi, E.xecutive Director of AMWAL said; "We, at AMWAL and our member banks are very proud to launch MasterCard credit and debit card programs for consumers in Iraq. It is a privilege to be associated with MasterCard Worldwide, a leader in advancing global commerce and to be able to provide our customers access to the MasterCard global payments network."

The MasterCard b.randed payment cards enable AMWAL member banks to offer their customers access to their personal funds and make payments at 28.5 million acceptance locations globally, wherever MasterCard cards are accepted. Payment cards provide consumers a secure and convenient alternative to cash and checks when making purchases. Payment cards, such as MasterCard credit cards, provide consumers with a line of credit. MasterCard debit cards provide consumers with a tool to better manage daily expenses via accessing their personal funds directly from their bank accounts. Both card programs allow consumers to enjoy global acceptance, flexibility, convenience and security as consumers go about their daily lives.

Basel Eltell, vice president and regional manager, Levant, MasterCard Worldwide said; "This development is testament to MasterCard's commitment in further enhancing the payments landscape in the Iraq. We are delighted to collaborate with the Amwal Banking consortium and its affiliated banks such as Bank of Baghdad, Commercial Bank of Iraq and Ashur Bank Iraq. These banks' customers can now leverage the benefits of MasterCard's payment solutions that are accepted globally and receive benefits and services that are designed to suit their lifestyle needs."