CSC Bank (CSC), a major financial institution in Lebanon and JCB International (JCBI) announced today that they have signed a card issuing license agreement.
Through this agreement, CSC will issue JCB Cards to CSC's customers, becoming the first bank to issue JCB Cards in Lebanon. CSC will also enable all of its merchants to accept JCB Cards across the country increasing the level of convenience for JCB cardmembers.
"Being chosen as the licensed issuer of JCB Cards for Lebanon is an enormous honor for our company", said Mr. Marwan Kaddoura, Chairman and CEO of CSC, "We have had a longstanding relationship with JCB for card acquiring in Lebanon and we believe that the commencement of issuing will allow us to further strengthen this partnership by offering our customers a new and exciting alternative to our existing range of products."
Mr. Koremitsu Sannomiya, President and COO of JCBI, said "Lebanon is a dynamic country with a rich history of business innovation in the region. I am extremely pleased that CSC, one of the major financial institutions in Lebanon, will commence JCB card issuance. This will significantly increase JCB's presence in Lebanon and in the MENA region. This is a continuation of JCB's strategy of expansion in the MENA region."
JCB began its merchant acquiring business in Lebanon since 1997 through alliance with CSC. CSC with its extensive experience and state-of-the-art systems in the industry, already offers a wide range of services for more than 80 banks and institutions in 26 countries. This will be the beginning of a new era for JCB expansion in the MENA region starting with Lebanon, where there are many countries with fast-growing economies. JCB and CSC are also engaged in discussion to further expand their relationship throughout the region.