Gulf African Bank (GAB) has signed a partnership deal with non-profit organisation International Student Identity Card (ISIC) Association to provide students with ID cards which can serve as debit cards too.
This partnership will allow students in Kenya to join those in 130 countries to access their bank accounts through the ISIC card.
The partners aim to bank on young Kenyans between 12 and 35 years old.
“This partnership with ISIC gives students under Gulf African Bank the ability to be recognised across all borders. Furthermore, the students can buy goods from different stores across the globe at discounted rates,” said GAB managing director Abdallah Abdulkhalik.
ISIC has partnered with different outlets such as KAM Pharmacy, Text Book Centre, IMAX, testing agencies and restaurants to provide discounted rates for student card-holders.
So far, students in 25 schools in Kenya already use the ISIC card as a form of identification. The schools include Light International Academy, Rosslyn Academy, Pangani Girls High School, Maina Wanjige Secondary School, and Moi University.
However, GAB is the first bank in the country to partner with ISIC to facilitate the use of the card as a debit card.
Currently, 15,000 students in Kenya have the internationally recognised ID and will be able to convert the same to include financial transactions. Over five million students use the ISIC card worldwide.
Through a mobile application, students can view all the discounts available to them within their region or in an area to which they are traveling. The card costs Sh1,200 and is valid for five years.
ISIC said it had invested two million Euros (Sh235,531,483 ) in the rollout of the card and the establishment of partnerships in the African region.