QIB Achieves PCI DSS Certification
Date
8/26/2024 2:02:30 PM
(MENAFN- Gulf Times) Qatar Islamic bank (QIB) has received the Payment Card industry Data Security Standard (PCI DSS) certification.
“This significant certification underscores QIB's commitment to achieving the highest standards of cybersecurity and the protection of sensitive cardholder data,” the bank said in a release.
The PCI DSS certification is a globally recognised standard for secure payment processing. By obtaining this certification, QIB demonstrates its dedication to ensuring the security and integrity of financial transactions and safeguarding customer information against cyber threats.
PCI DSS applies to all entities that store, process, and, or transmit cardholder data. It covers technical and operational system components included in or connected to cardholder data.
In receiving the PCI DSS certification, QIB reinforces its commitment to security and trust, offering significant benefits to the customers. This certification ensures that QIB takes extensive measures to protect customer data, securing it during transactions and safe storage, thereby reducing the risk of theft or breaches. Cardholders can have greater confidence in the safety of their payment information, knowing that QIB adheres to these rigorous standards to minimise the risk of fraud and financial loss.
Additionally, PCI DSS compliance means that QIB continues to limit access to sensitive payment information, ensuring that those who need it only handle customer data, safeguarding privacy and reducing the risk of misuse.
This certification further enhances trust, giving customers the peace of mind that their financial information is protected every time they interact with QIB's payment systems. By adhering to PCI DSS, QIB creates a safer and more secure banking experience for all its customers.
Commenting on the achievement, QIB's Group Chief Risk Officer Rakesh Sanghvi said:“Receiving the PCI DSS certification is more than just a milestone; it's a testament to our relentless pursuit of excellence in cybersecurity and customer data protection. This certification underscores our commitment to offering secure, reliable financial services, and it is a clear indication of QIB's dedication to creating a banking experience through advanced products and services.
“Our focus on maintaining PCI DSS v4.0 compliance is driven by our commitment to safeguarding our customers'' data, ensuring that every transaction is protected to the highest standards.”
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