The Banking Executive Magazine - July Issue 2021

Faisal Islamic Bank partners and other financial institu- tions. Mr. Moawia Ahmed Elamin, CEO of Faisal Islamic Bank, stated that the program is a bold & timely initiative towards the entire transformation of the Bank given the changing cus- tomer needs following the pan- demic. FIB’s transformation journey will help the bank drive growth and add value to all the stakeholders of the bank. With this initiative, the bank has entered a new era. With ac- tive involvement of 1200+ plus workforce of the bank aided by De- loitte's proven expertise, they are working to make it a "Model Trans- formation" in the Sudanese banking sector. Mrs. Manahil Yousif Maki, CRO of FIB, said that the Sudan economy is faced with significant challenges, but they are tackling it one by one. Sudan has been removed from the US list of states sponsors of terrorism, the government is trying to control inflation and currency fluctuations, and the recent act towards the unifi- cation of exchange rates constitutes one of those efforts. As a leading bank in Sudan, FIB plays an essential role in shaping economy by offering best in class financial products and services, and takes the lead in re- building Sudan’s relationships with international financial institutions. The transformation program was strongly supported by the board of directors, senior leadership, and ex- ecutive employees. This will be a turnaround for FIB and will help the bank gear up for a transition towards a full-scale universal bank. MASTERCARD LICENSE Faisal Islamic Bank is the first Su- danese bank to obtain MasterCard is- suing license in collaboration with its business partner Network Interna- tional. Faisal Islamic Bank in collaboration with Network International, the lead- ing enabler of digital commerce across Africa and the Middle East, has become the first indigenous Su- danese bank to obtain a card issuing and acquiring license from Master- card. Through the bank’s partnership with Network International, Faisal Islamic Bank will issue Mastercard-branded debit, credit and prepaid payment cards in Sudan for use online, in- store and at ATMs. FIB will also con- nect local businesses to the Mastercard network using Network International technology, helping people and businesses enjoy more convenient, secure and easy-to-use ways to pay everywhere Mastercard is accepted across the globe. “We are delighted to partner with the BANKING EXECUTIVE 18 ISSUE 151 JULY 2021