The Ministry of Economy and Commerce (MEC), in co-operation with Al Rayan Bank, has launched the Iktisadi card in a bid to encourage the use of loyalty cards, which benefit consumers and society at large by increasing savings on purchases.
This initiative is the latest out of a series of campaigns launched by the ministry on the occasion of the holy month under the theme “#Aqal_Min_Al_Wajeb,” Arabic for “#the_least_we_can _do” in a bid to strengthen its partnership with the private sector.
The card caters to consumer spending habits and preferred shopping options and grants its holders access to discounts and promotions at major shopping malls and retail outlets.
The Iktisadi card, which is in accordance with Shariah law, allows consumers to accumulate loyalty points that can be collected following consumer purchases, which can then be used for shopping, and can be exchanged for up to QR1,000 worth of cash per month or used to redeem Ooredoo Nojoom points and airline tickets to over 300 destinations around the world as well as Qmiles from Qatar Airways.
Cardholders have access to more than 850 lounges at various airports around the world and benefit from a variety of offers by Al Rayan Bank in order to reduce expenses and enjoy exclusive benefits.
The Iktisadi bank card also offers a maximum degree of safety in terms of anti-fraud protection through the use of a PIN and the delivery of SMS messages to consumers to prevent fraud in online transactions.
The card also allows consumers to deposit funds easily at all bank branches and ATMs in addition to being accepted universally at more than 24 million outlets and one million ATMs.
Consumers can take advantage of the rewards associated with Iktisadi card following three months of use. The card is available to all consumers whether citizens or residents and whether they are clients of Al Rayan Bank or any other bank. Al Rayan Bank has invited all shops and businesses to join its loyalty points programme to provide various benefits to consumers.
Commenting on the initiative, Tariq Abdulaziz al-Sada, director of Public Relations and Communications at the Ministry of Economy and Commerce, said the initiative falls within the framework of the ministry’s efforts to contribute to community development.
“The Iktisadi card aims to bolster Qatar’s business environment and improve the purchasing power of consumers – which form part of the ministry’s overall development plans, in accordance with the goals set by Qatar National Vision 2030.”
Al-Sada noted that the card is part of a number of initiatives launched by the ministry to build trust and partnerships between merchants and consumers as well as to support families during the holy month by giving them access to promotional discounts across outlets in Qatar.
Hamad al-Jamali, assistant general manager of retail services and private banking services at Al Rayan Bank, said the initiative paves the way for a strategic partnership with the Ministry of Economy and Commerce.
“The card offers special discounts on well-known brands in Qatar, as well as access to special promotions by Al Rayan Bank such as free holidays and rewards points from Ooredoo’s Nojoom Points. It also provides access to a diverse banking support network and electronic services provided by Al Rayan,” Jamali explained.
The Ministry of Economy and Commerce has unveiled a number of initiatives to mark the holy month of Ramadan.
These initiatives include sheep subsidies and price caps on consumer products in addition to organising a number of informative programmes and forums such as the 3rd edition of the “Trade in Islam” forum as well as the “Halal Livelihood” program on the ministry’s YouTube channel, in addition to the Al Baraka corporate social responsibility program which aims to boost the productivity of bakeries.
Moreover, the ministry will intensify its inspection campaigns to monitor markets and business activities, and will launch a campaign to regulate gold and jewellery businesses.
The ministry has invited the public to follow its social media accounts including Instagram, Snapchat and YouTube under the name MEC_QATAR and to subscribe to its WhatsApp account on the number: 66111400.