QIIB has announced a new agreement with Visa, a global leader in digital payments, to implement advanced risk solutions  to bolster the bank’s fraud prevention and risk management for credit and debit card transactions.

This latest partnership with Visa will enable QIIB to leverage advanced tools and technologies to enhance transaction security and reduce fraudulent activities. Visa’s solutions offer real-time risk management by assessing the risk associated with each transaction as it occurs, along with comprehensive capabilities for configuring and managing fraud detection and prevention strategies.

Commenting on the new partnership, Mr. Khaled Abdul Rahman Al-Shaibei, Head of Business Development at QIIB, stated: “We are thrilled to partner with Visa to implement these advanced risk solutions. These advanced tools will significantly enhance our ability to detect and prevent fraud, ensuring a secure and trustworthy transaction environment for our customers. This collaboration underscores our commitment to leveraging cutting-edge technology to provide the highest level of security and service excellence.”

Shashank Singh, Visa’s VP and General Manager for Qatar and Kuwait, added: “Our agreement with QIIB is the latest in Visa’s efforts to support our financial institution partners in Qatar in protecting the payments ecosystem through our advanced security technology. We remain fully committed to the Qatar government’s vision of a secure and resilient digital economy and look forward to growing the digital economy for the benefit of more consumers and businesses.”