Sharia Compliant Credit Cards

The general operational aspect of the prepaid credit card can be described as
having 'sharia-compliant' aspects and therefore can be suitable for Muslims as
only fixed fees will be charged to the customer for various transactions.

There is no interest charged or paid on credit card deposits. We will also pay a
portion of profits to a registered UK charity. The UK's first sharia-compliant
prepaid credit card was launched in London in 2007 - dubbed the
"Islamic financial centre of Europe".

The UK's Muslim population is about two million and fully sharia-compliant
banks have more than 30,000 customers across the UK. The card operates on
the basis of ‘Ujrah’ (Islamic mode of finance) concept which is based on fee
structure meaning that only a fixed fee will be charged to the customer.
The card would not be imposed with any floating percentage fee dependent on
the outstanding balance.