Ithmaar Bank renews its PCI-DSS certification

The PCI-DSS is a data security standard for organizations that handle payment cards.

  
Abdul Rahim (fourth from right) receives the SISA certification from SISA Information Security Associate Vice President- EMEA Office, Yogesh Dange, in the presence of (from right) Ithmaar Bank Chief Risk Officer, Krishnan Hariharan, Ithmaar Bank Information Security Officer, Fatema Faraj, Ithmaar Bank Assistant General Manager, Head of Information Technology and Administration, Yousif Alkhan, and Ithmaar Bank Information Security and Compliance Manager, Rashed Ahmed AlMuawada.

Abdul Rahim (fourth from right) receives the SISA certification from SISA Information Security Associate Vice President- EMEA Office, Yogesh Dange, in the presence of (from right) Ithmaar Bank Chief Risk Officer, Krishnan Hariharan, Ithmaar Bank Information Security Officer, Fatema Faraj, Ithmaar Bank Assistant General Manager, Head of Information Technology and Administration, Yousif Alkhan, and Ithmaar Bank Information Security and Compliance Manager, Rashed Ahmed AlMuawada.

MANAMA, BAHRAIN – Ithmaar Bank, a Bahrain-based Islamic retail bank, announced that SISA Information Security, the Middle East region’s leading security assessor, has renewed its certification of the Bank to confirm the highest payment security standard possible for any organisation dealing with payment card related information.

The announcement follows Ithmaar Bank’s successful completion of a comprehensive audit and its compliance to all requirements necessary for the Payment Card Industry Data Security Standard v3.2 (PCI-DSS) certification. The PCI-DSS is a data security standard for organizations that handle payment cards. It is mandated by the card brands and regulator, administered by the Payment Card Industry Security Standards Council, and widely recognised as one of the most stringent and most coveted security standards in the world. SISA Information Security, an international authorised assessor for various payments standards, is a payment security specialist firm with a presence in more than thirty-five countries.

“Ithmaar Bank had first earned the certification on 26 April 2017, making us one of the first in Bahrain to be certified to the PCI-DSS standard,” said Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim. “Maintaining this certification is testimony to the importance that we attach to our customers’ information security and underscores our commitment to ensuring their satisfaction and enhancing their Islamic banking experience,” he said.

“The purpose of the PCI-DSS is to protect card data from unauthorised users, including hackers and thieves, and by following this standard, banks can keep data confidential and secure, avoiding costly data breaches and protecting employees and customers, ” said SISA Worldwide CEO and Founder, Dharshan Shanthamurthy. “Ithmaar Bank’s certification shows their in-depth understanding of the security measures and precautions they are taking to keep their payment data safe – particularly as the PCI-DSS doesn’t remain as a static standard, but keeps on evolving with the changing threat landscape worldwide,” he said.

“This achievement reconfirms Ithmaar Bank as a pioneer among all other Bahrain financial organizations who adhere to the PCI security standards,” said Shanthamurthy. “We believe that Ithmaar Bank will maintain its leadership in being the top-of-the-line secure payment infrastructure in Bahrain,” he said.

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About Ithmaar Bank:

Ithmaar Bank B.S.C. (closed) (“Ithmaar Bank”) is a Bahrain-based Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain and provides retail, commercial, treasury & financial institutions and other banking services.

Ithmaar Bank is a wholly owned subsidiary of Ithmaar Holding B.S.C. (formerly named Ithmaar Bank B.S.C.) which is listed on the Bahrain Bourse, Bourse Kuwait and Dubai Financial Market.

Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs of individuals and institutions. Ithmaar also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan).

www.ithmaarbank.com 

© Press Release 2018

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