logo

Mastercard and Jordan Islamic Bank collaborate on Shari'ah-compliant digital payment platform

Finextra2 days ago
Mastercard and Jordan Islamic Bank (JIB), one of the largest banks operating in the country, are collaborating to drive innovation and expand access to Shari'ah-compliant digital payment solutions.
0
JIB will leverage Mastercard's payment technologies and advisory services to enhance its consumer card portfolio, introducing new features tailored to the unique needs of Shari'ah- compliant customers. The collaboration aims to support the development of new digital channels and customer engagement platforms, enabling JIB to deliver more personalized, accessible, and secure banking experiences.
'This collaboration reflects our shared commitment to advancing financial inclusion and empowering Shari'ah-compliant customers across Jordan through innovative digital solutions. Together with JIB, we are building a more connected and customer-centric financial ecosystem, powering inclusive growth, driving digital transformation, and expanding access to secure digital payments,' said Adam Jones, executive vice president and division president for West Arabia, Mastercard.
'We are excited to collaborate with Mastercard to provide innovative and Sharia'ah-compliant financial solutions. Leveraging Mastercard's global expertise and advanced technologies, we will further enhance our offerings, ensuring our customers experience secure, seamless, and value-driven financial services that adhere to Shari'ah banking principles,' said Dr. Huseein, CEO, Jordan Islamic Bank
Since its establishment in 1978, Jordan Islamic Bank (JIB) has focused on sustainable growth by driving digital transformation and expanding its electronic banking services to meet the changing needs of its customers.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Khruangbin, again? I quit Spotify for a month to escape samey algorithms – this is what I learned
Khruangbin, again? I quit Spotify for a month to escape samey algorithms – this is what I learned

The Guardian

timean hour ago

  • The Guardian

Khruangbin, again? I quit Spotify for a month to escape samey algorithms – this is what I learned

If you use music to set or fix your mood, Spotify is a tantalising tool. Feeling sad? Cry to your personalised 'Depress Sesh Mix'. In a romantic crisis? Stew in your own 'Situationship Mix'. As I write this, I'm listening to Spotify's Daylist, a mix that refreshes every few hours based on my own listening habits. Today's vibe is 'funky beats roller skating tuesday early morning mix'. At 120bpm, the algorithm knows I need some energetic house to roll from my bed to my desk. The problem with this listening experience isn't just the creepy AI-driven intimacy of it all, more that the same songs are recycled in a predictable loop. Spotify's algorithm has anaesthetised artists I once enjoyed. Every time I hear the slippery psychedelic bass of Khruangbin slinking into one of my playlists, or flow in seamlessly from another artist's radio, I violently hit skip. A decade ago, Spotify favoured human-curated playlists made by artists, celebrities and music aficionados. But in 2021, the streaming company pivoted towards machine learning, feeding 'nearly half a trillion events' into computer models every day. Now, user data – chiefly our listening history, interactions with Spotify's user interface and the time of day – is packaged into a mixtape for every micro-occasion. Advocates argue this is a chance to democratise music promotion, neatly matching artists with their audiences. Critics suggest this ultra-subjective experience limits musical discovery to the already familiar – and the less it's challenged, the more my music taste narrows. So as a test, I quit Spotify for a month, to bring some soul back into the way I find music. First, I consulted people who had never used streaming services, like my dad, who grew up in 1970s London in the heyday of punk and glam rock. Hunched in a booth in his local record shop, he would listen to a sample and take a punt on what vinyl to buy – A-side or B-side. Some albums apparently missed the mark, and others, like Pink Floyd's Dark Side of the Moon, transported him to a different universe. He insisted I start with my favourite artists, and listen to every album front to back, as if reading a story. Sign up for the fun stuff with our rundown of must-reads, pop culture and tips for the weekend, every Saturday morning Inspired, I bought a $30 record player in an op-shop and hunted for vinyls. Late to the record renaissance, it was slim pickings – Australian pub classics, Christian country or Christmas hits. But when a friend pointed out my new turntable was missing a needle, it became a dusty but decorative addition to my living room. My 20-year-old neighbour had another suggestion: a diamante-encrusted iPod, which she produced in a ziplock bag like a hallowed artefact. Found for $200 on Facebook Marketplace, plugging in wired earplugs and hitting shuffle was a nostalgic throwback. But this romance was short-lived: the iPod was incompatible with my Bluetooth speaker and demanded hours of admin to upload music. The biggest challenge came when driving my old silver Subaru, as I was stranded with only a single CD, a flimsy aux cord and my thoughts. Stuck with silence, I wondered what the new grinding noise was – until I discovered my local community broadcaster, Vox FM 106.9. More than 5 million Australians listen to community radio every week, for 17 hours on average – and now, I can see why. The station prides itself on 'real music' and even has the tagline 'You never know what you like until you try it'. Just what I needed! And it's true, I had forgotten how good it feels to wind down the windows and blast Push the Button by the Sugababes, and then to roll them up again when a classical German song, a mystery even to Shazam, comes on. Sign up to Saved for Later Catch up on the fun stuff with Guardian Australia's culture and lifestyle rundown of pop culture, trends and tips after newsletter promotion I contacted Justin Moon, who runs a popular underground radio station and record shop in Newcastle. He sources music from record fairs, friends, and Bandcamp – distributing interesting sounds as a conduit, or Hermes figure, to lay (or lazy) people like me. Moon is noticing that his customers are searching for a more 'active' listening experience. 'It's not this kind of passive wash-over-you rubbish that you make your two-minute noodles to and forget all about 10 seconds later,' he says. Music – like film, TV, and food – is now served to us effortlessly, instantly. But this has caused the way we consume music to be more siloed. Spending a month hunting for new music myself, rather than relying on an algorithm, made me feel more connected to my parents, friends, radio presenters and even complete strangers. Their recommendations – whether to my taste or not – came with a part of themselves, a memory, or a shared interest. After my month's Spotify hiatus, my algorithm hasn't been cleansed. Over the course of writing this piece, my daylist has evolved into 'french indietronica swimming pool tuesday afternoon', whatever that means. There are two Khruangbin songs on there. It's safe to say I would rather play roulette with the radio.

Railroad operator Union Pacific's quarterly profit rises
Railroad operator Union Pacific's quarterly profit rises

Reuters

time4 hours ago

  • Reuters

Railroad operator Union Pacific's quarterly profit rises

July 24 (Reuters) - Union Pacific (UNP.N), opens new tab reported a rise in its second-quarter profit on Thursday, powered by robust demand for bulk and industrial shipments through multiple modes of transportation. The company's bulk shipments, which consists of grain products, fertilizer, coal and renewables, accounted for 32% of total freight revenues in 2024. Union Pacific, seen as a bellwether for the U.S. economy, has, however, benefited from strong volumes in its grain and grain products segments following a strong harvest season. The company's quarterly profit rose to $3.15 per share, from $2.74 per share, a year earlier. The West Coast rail giant has reportedly been in early-stage talks with its East Coast peer, Norfolk Southern (NSC.N), opens new tab, to explore a cross-continental railroad merger, possibly creating a single-line network stretching from coast to coast.

Ukraine's central bank keeps rates steady, sees economy slowing in 2025
Ukraine's central bank keeps rates steady, sees economy slowing in 2025

Reuters

time5 hours ago

  • Reuters

Ukraine's central bank keeps rates steady, sees economy slowing in 2025

KYIV, July 24 (Reuters) - Ukraine's central bank on Thursday left its key interest rate steady at 15.5% for the third consecutive meeting as inflation is expected to continue to ease, but it said that wartime risks will constrain economic growth. In a statement, it said Ukraine's economic growth would slow to 2.1% this year compared with 2.9% in 2024. The central bank previously predicted 2025 economic growth at 3.1% but cut its forecast due to more intense Russian attacks in recent months. Governor Andriy Pyshnyi said that inflation had started to decline as expected in June and would continue to slow significantly by the end of the year. "Holding the key policy rate steady at 15.5% is an important prerequisite for a sustainable slowdown of inflation toward its 5% target," Pyshnyi told a news briefing. The central bank expects inflation to reach 9.7% at the end of this year and to slow to 6.6% in 2026 and to 5% in 2027.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store