IslamicFinance.de

International Bank of Azerbaijan (IBA) is the first European bank to present the Qibla card, which corresponds to the rules of Islamic banking. IBA Islamic Banking Department head Behnam Gurbanzade said the card will be released into circulation in the near future. The cost of the card is 40 manats. The debit card was issued in conjunction with MasterCard Platinum. It is equipped with an electronic compass indicating the direction of Mecca. With the help of this card, the card holder will be able to cash funds in the account, as well as pay for the purchase of various goods and services. Qibla card will be issued as a debit card, but can also be used with a limit of debt, issued by the bank.