Question Summary:
Shari’ah compliant credit card

Question Detail:

Some banks are offering credit cards that are Shria compliant and approved by their shria boards. I am not confident if I should enter into such an agreement with the bank and i need your advice.

Answer :

In the Name of Allaah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We are not in a position to issue a ruling on the Shari’ah compliant credit card in reference without details on the design and the contract of the credit card. You may send us the relevant information or refer to your local Mufti for guidance.

And Allah Ta’ala Knows Best

Muhammed Al-Ameen Bin Moulana Ismail Akoo

Student, Darul Iftaa

Newcastle; KZN, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.