UAE-based Sharjah Islamic Bank (SIB) has launched ‘Al Hurr’, the Emirates’ first mobile ATM service in Islamic banking. This move will ease access of Muslims to their cash in the Emirates. The mobile ATMs will offer the same services as stationary ones, and are designed to work regardless of how far they are from a stationary ATM or bank branch, anywhere across the UAE. In April this year, SIB also launched ATMs designed for the handicapped.
SIB has also launched a Shari’ah-compliant prepaid card, which acts in the same way as a credit or debit card, but must be loaded with funds before they can be spent. This ‘Jeans Card’ will be aimed at all age groups of customer, from 14 years old upwards. Customers will receive a text message each time the card has been used. As well as being secure, the card can help teach youths to be responsible with cash, since the user cannot go overdrawn
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