The Bank of Khyber (BOK) and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., Japan, today entered into an agreement for the issuance of JCB Debit Cards.
This international Debit Card will facilitate BOK's customers with the benefits of both point of sale and ATM cash withdrawal across Pakistan and globally at locations in over 190 countries and territories. The signing ceremony was graced by H. E. Mr. Hiroshi Inomata, Japanese Ambassador in Pakistan, along with senior members of the Japanese Embassy in Pakistan. The ceremony was attended by Mr. Kimihisa Imada, Deputy President of JCBI, along with his delegation, Dr. Hammad Awais Agha, Chairman Board of Directors of BOK, Mr. Shams-ul-Qayyum, Managing Director of BOK, and senior officials from Government of Khyber Pakhtunkhwa. The agreement was signed by Mr. Shabeer Ahmad Sheikh, Executive Vice President & Group Head Operations, on behalf of BOK and Mr. Kimihisa Imada on behalf of JCBI.
BOK & JCB Debit Cardmembers will not only be enjoying the facility of 1Link network's (*) point of sale and ATM cash withdrawal in Pakistan, and around the globe, but shall also have the convenience of interbank transfer of funds and payment of utilities bills through all ATMs in Pakistan. This will bring added value to the services rendered by BOK to its customers.
On this occasion Mr. Shams-ul-Qayyum, Managing Director of BOK, said, "It is a great occasion for BOK that JCBI, a world household name in the payment industry entered in Pakistan's banking industry. We welcome JCBI and are confident that banking customers in Pakistan will enjoy the BOK's traditional customer friendly service with the blended touch of JCBI technology. BOK also takes this opportunity to offer JCBI its services for further interactions for mutual beneficial basis. Japan has also been helping the economy of Pakistan and we always acknowledge Japan's government and semi-government institutions for technological assistance in various fields of daily life. Now with BOK and JCB Debit Card, we will be able to serve our customers across Pakistan as well as internationally. Today is the first step towards BOK and JCBI cooperation with an aim to facilitate the masses in the region and across the globe."
Mr. Kimihisa Imada, Deputy President of JCBI said, "Issuance of Debit Card with BOK will be a great opportunity for JCBI in Pakistan. In JCB's global expansion strategy, we view Pakistan to be a market with much potential because of its growing economy and the growth of the card payment market. We believe that JCBI can offer local partners the benefit of our international experience and flexible approach to help grow their businesses and build a win-win proposition for all."
JCB is known for providing responsive and high quality services to its cardmembers worldwide. BOK, a premier financial institution of provincial Government of Khyber Pakhrtunkhwa, has taken this step to provide international access to its customers and in future BOK plans to expand its branch network abroad. BOK and JCB Debit Card issuance will be a unique opportunity for BOK's customers as JCB's global outlook will facilitate new vistas of innovation and collaboration in Pakistan's payment industry.
* 1Link network is managed by 1Link (Guarantee) Limited (1Link), which is Pakistan's largest payment system by market share and provides ATM switch services, inter-bank funds transfer (IBFT), bill payment services, etc. to their member banks including BOK. JCBI and 1Link entered into a strategic partnership to introduce JCB Debit Cards in Pakistan, which will be issued by member banks and can be accepted at point of sale and ATM through the 1Link network.