Posted on November 03, 2014

International Bank of Qatar (ibq) has won the “Best Loyalty Program in the Middle East and Africa” for its innovative reward program “thanq” at the MasterCard Innovation Forum 2014, held recently in Singapore.

thanq is the most rewarding and innovative rewards program offered by ibq. Customers get the chance to accumulate points by using the Bank’s wide range of products. These points can be redeemed for tempting holiday destinations or business travel with over 800 airlines, 160,000 hotels and car rental services worldwide. Andrew Ball, Head of Retail Banking at ibq said: “thanq is a real example of an immensely successful, customer-centric and market-defining product innovation in Qatar. This recognition from MasterCard at a high profile and internationally renowned industry forum; reflects and underlines at the highest level, ibq’s ability to be at the forefront of creating value for our customers and the bank.”

“Our innovation awards are intended to recognize our partners who have demonstrated a profound understanding of consumer needs in our industry and delivered meaningful payment solutions across the region.” said Raghav Prasad, General Manager for Gulf Countries at MasterCard. “As Qatar’s leading loyalty program, ibq’s thanq is an example of how consumer-centric programs play an integral role in changing the landscape of reward programs.” 

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The MasterCard Innovation Forum brought together over 350 card issuers, acquirers and MasterCard partners from Southeast Asia, Middle East and Africa to share and experience the future of payment solutions, as well as to network and discuss innovations in the field of payments industry. The Innovation Awards are intended to highlight the best examples of partners who have demonstrated a deep understanding of consumer needs and delivered highly impactful and innovative payment solutions which have driven business results. A total of 41 awards were presented to winners across 16 different categories.