Qatar Islamic Bank achieves PCI DSS security certification

26/03/2012 23:30 AST

Qatar Islamic Bank, the benchmark Islamic bank in Qatar and one of the leading Islamic banks in the world, announced that it had achieved compliance with the PCI DSS (Payment Card Industry Data Security Standard) version 2.0.

The PCI DSS Compliance Certificate was received today by QIB Acting CEO Ahmad Meshari from Paladion Networks CEO, Rajat Mohanty.

QIB was awarded the PCI DSS standards for its entire range of payment card affiliated services across all its branches and banking channels (ATM, CDM, Internet banking, Mobile banking, Contact Centre).

PCI DSS compliance is required by all merchants and service providers that store, process, or transmit cardholder data and applies to all payment channels, including retail and e-commerce by the Payment Card Industry Council; a consortium of the major card brands i.e. VISA, Master Card, American Express, JCB and Discover. Adhering to the PCI DSS compliance requirements represents a bank's best protection against card holder data thefts.

Being in compliance with the PCI DSS Standard is crucial for managing risks, reducing losses and ensuring the protection of customer data. This certification is yet another testimony to QIB commitment to implement international best practices by investing in a wide range of IT technologies and developing state-of-the art security techniques and systems.

With this certification, QIB becomes one of the major banks in Qatar and Middle East to achieve this milestone.

Paladion Networks CEO said, "With its years of experience and expertise and pool of Qualified Security Assessors (QSA), Paladion ensured that QIB implemented practical and effective solutions to meet one of the most demanding and rigorous security standards in the industry."

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