MTB Islamic Ujrah Card — Visa Signature

What makes this card Islamic

Mutual Trust Bank (MTB Islamic) builds this card on a Qard Hasan + Ujrah contract. The bank lends you the money and you pay back exactly what you borrowed, not a penny more.

QARD + UJRAH, and MTB is unusually explicit about both halves. The LIMIT is a qard: the card's Terms & Conditions define a '"Qard Limit" ... the maximum debit balance permitted by the Bank for the Card Account', charge an 'Excess Limit Fee ... if the Cardholder exceeds the Qard Limit', and state that 'The use of the Card by the Cardholder to obtain a Cash Advance shall constitute a Qard transaction between Cardholder and the Bank'. The RETURN is an ujrah: 'Monthly Maintenance Fee (MMF)/Ujrah to be charged on monthly basis by the bank to the Cardholder on continuous services & privileges provided.' TRUE REVOLVING CREDIT CARD: 'The Cardholder agrees to pay the Current Balance or the Minimum Amount Due specified in the Statement by the Payment Due Date', and the application form offers an auto-debit election between 'Minimum Amount Due' and 'Total Outstanding'. The Schedule of Charges is titled 'Charges for MTB Islamic Ujrah (Credit) Card'. A REBATE mechanism (ibra') operates in place of a lower rate: the bank 'at its absolute discretion, may allow rebate on Monthly Maintenance Fee (MMF/Ujrah) in case of outstanding on payment due date (EOD) remain less than Tk. 100,000 for Gold, Tk. 250,000 for Platinum, and Tk. 400,000 for Signature card type'. Usage is restricted: 'MTB Islamic Ujrah Card cannot be used to avail any product or service that is impermissible in Islamic Shari'ah.' NOT A REBADGE — MTB's conventional card Schedule of Charges prices an explicit 'Interest Rate (Per Annum) 25%' and explains that 'interest will accrue ... only on the unpaid balance'; the Ujrah schedule has no interest line at all.

Approved by MTB Islamic Shari'ah Supervisory Committee, under the supervision of Bangladesh Bank.

What it costs

Every figure below comes from Mutual Trust Bank (MTB Islamic)’s own published documents. Where the bank does not publish a number we say so rather than estimate it.

Annual fee

Tk 10,000From the second year the primary card's annual fee can be waived using earned MRewardz points.source

Supplementary card

Tk 2,000The first supplementary card is free for Gold and Platinum cardholders; the first TWO are free for Signature cardholders. This fee applies to any additional card. Supplementary cardholders must be 18 or over.source

Profit rate

Not publishedNo percentage profit rate on the balance in the conventional sense. The carrying charge is a Monthly Maintenance Fee (MMF/Ujrah) published as '2% on overdue outstanding, not more than BDT 8,000'. Note the bank's own product page contradicts this by describing the MMF as fixed 'irrespective of the cards' outstanding balance' — see watch_outs. A discretionary rebate may be allowed where the outstanding at end of day on the payment due date is below BDT 400,000 for this tier. No profit-free or grace period is published.

Cash withdrawal

BDT 200 at an MTB ATM; BDT 200 local or BDT 300 international at other banks' ATMs. The card page advertises 'ATM cash withdrawals without daily accrual charges'.

Late payment

CONTRADICTORY. The card page advertises 'No Late Payment Fee.' The card's Terms & Conditions clause 5(C) provides for 'a flat Late Payment Charge as prevailing from time to time'. No amount is published in the Schedule of Charges.CONTRADICTORY. The card page advertises 'No Late Payment Fee.' The card's Terms & Conditions clause 5(C) provides for 'a flat Late Payment Charge as prevailing from time to time'. No amount is published in the Schedule of Charges.

Foreign currency spend

3% on top of the exchange rate

Replacement card

Tk 1,000

Takaful cover

MTB Protection Plan at 0.35% of the outstanding per month. IMPORTANT CAVEAT published by the bank: it 'can arrange insurance coverage for Cardholder from Takaful Operator/Conventional insurance company in absence of well rated Takaful Operator' — so the cover attached to this Shariah card may be conventional insurance. Enrolment is optional.

What you get back

• MRewardz: the bank claims the highest reward point value in the market, with online redemption
• From the second year the primary card's annual fee can be paid with earned MRewardz points

Other benefits

• 10 complimentary LoungeKey visits per calendar year across 1,300+ international lounges — but any accompanying GUEST visit is counted against the same ten, and further visits or supplementary-cardholder visits cost USD 35 per person per visit. Also unlimited free MTB Air Lounge visits.
• Complimentary airport pick-and-drop and meet-and-greet services at Dhaka International Airport
• Access to the largest air lounge network in the country
• Usage restricted to Shariah-permissible products and services

Before you apply

• PUBLISHED CONTRADICTION 1 — the fee basis. The product page says the Monthly Maintenance Fee is 'a fixed Monthly Maintenance Fee (MMF) based on the types of the cards they use (gold, platinum, signature), IRRESPECTIVE OF THE CARDS' OUTSTANDING BALANCE'. But the fee table directly beneath it, and the Schedule of Charges, both price the MMF as '2% on overdue outstanding, not more than BDT X'. Those two statements cannot both be true. Both are recorded verbatim; the conflict is NOT resolved here.
• PUBLISHED CONTRADICTION 2 — late payment. The card page lists 'No Late Payment Fee.' as a benefit, while clause 5(C) of the card's own Terms & Conditions provides that 'If the Cardholder fails to pay the Minimum Amount Due by the Payment Due Date, a flat Late Payment Charge as prevailing from time to time will be levied.' Both recorded; not resolved.
• The MMF rebate is at the bank's ABSOLUTE DISCRETION and is expressly not contractual: 'allowing such rebate will in no way be treated as a part of the agreement.'
• Takaful is not guaranteed: the bank may 'arrange insurance coverage for Cardholder from Takaful Operator/Conventional insurance company in absence of well rated Takaful Operator' — so the cover on a Shariah card may be conventional insurance.
• Currency conversion costs 3.00% on any foreign currency other than USD.
• 15% VAT applies as per Government rules.

Can you get it?

Other conditions

SELF-EMPLOYED, BUSINESS PEOPLE AND LANDLORDS ARE EXPRESSLY ACCEPTED — the application form's applicant-type list reads 'Salaried Person / Business Person / Self-employed Professional / Landlord/Landlady / Others', and the on-page selector adds 'Housewives/Student'. No income floor or age band is published for the primary cardholder; supplementary cardholders must be 18 or over. The form carries a 'Monthly Income Details (in BDT)' section but no stated threshold. THE FORM WAS NOT FILLED IN OR SUBMITTED. Limit assignment is at the bank's sole discretion: 'I'm aware that the assignment of the Ujrah Card Qard limit is the sole discretion of the Bank.'

Where these figures come from

Last checked against Mutual Trust Bank (MTB Islamic)’s published documents on 2026-08-17. Banks change fees without notice, so treat the bank’s own document as the final word, not this page.

• “MTB Islamic Ujrah Card is a Shari'ah-compliant alternative to conventional credit cards. This product has been designed on the basis of 'Ujrah' concept, which refers to a fixed-fee structure. — https://www.mutualtrustbank.com/mtb-yaqeen/products/cards/mtb-yaqeen-ujrah-card/”
• “Charges for MTB Islamic Ujrah (Credit) Card — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf, page 1 heading”
• “(B) The Cardholder agrees to pay the Current Balance or the Minimum Amount Due specified in the Statement by the Payment Due Date. — MTB Yaqeen Ujrah Card application form, section 5 PAYMENT”
• “(I) "Qard Limit" means the maximum debit balance permitted by the Bank for the Card Account for the Primary and the Supplementary card, if any. — same form, section 1 DEFINITIONS”
• “(C) The use of the Card by the Cardholder to obtain a Cash Advance shall constitute a Qard transaction between Cardholder and the Bank and fixed fee on each transaction is applicable for such cash withdrawal. — same form, section 4”
• “3. Monthly Maintenance Fee (MMF)/Ujrah to be charged on monthly basis by the bank to the Cardholder on continuous services & privileges provided. The bank, at its absolute discretion, may allow rebate on Monthly Maintenance Fee (MMF/Ujrah) in case of outstanding on payment due date (EOD) remain less than Tk. 100,000 for Gold, Tk. 250,000 for Platinum, and Tk. 400,000 for Signature card type. — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf, page 2 note 3”
• “MTB Islamic Ujrah Card cannot be used to avail any product or service that is impermissible in Islamic Shari'ah. — https://www.mutualtrustbank.com/mtb-yaqeen/products/cards/mtb-yaqeen-ujrah-card/”
• “Bank can arrange insurance coverage for Cardholder from Takaful Operator/Conventional insurance company in absence of well rated Takaful Operator/Shari'ah permitted inconvenience to obtain Takaful coverage. — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf, page 2 note 11”
• “Interest Rate3 (Per Annum) — 25% / 25% / 25% / 25% / 25% — MTB CONVENTIONAL credit card Schedule of Charges (for contrast; the Ujrah schedule has no such line)”
• “Salaried Person Business Person Self-employed Professional Landlord/Landlady Others — MTB Yaqeen Ujrah Card application form, section 2”
• “Annual Fee-Primary Card | BDT 3,000 | BDT 5,000 | BDT 10,000 — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf (this tier: BDT 10000)”
• “Monthly Maintenance fee (MMF) | 2% on overdue outstanding, not more than BDT 8,000/- — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf”
• “Currency Conversion Charge | 3.00% — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf”
• “MTB Protection Plan Fee (Monthly) | 0.35% — https://www.mutualtrustbank.com/wp-content/uploads/2026/07/MTB-Islamic-Ujrah-Card_SOC_2026_July-to-Dec.pdf”
• “No Late Payment Fee. — https://www.mutualtrustbank.com/mtb-yaqeen/products/cards/mtb-yaqeen-ujrah-card/ (contradicted by T&C clause 5C)”

• Product page
• Schedule of charges
• Terms and conditions