Visa Platinum Credit Card-i

What makes this card Islamic

alrajhi bank Malaysia builds this card on a Tawarruq contract. The bank sells you a commodity on credit at a marked-up price, you sell that commodity to somebody else for cash, and the cash becomes your spending limit.

The product page states the card is 'Structured under the Tawarruq concept'. The Product Disclosure Sheet dated 18 March 2026 states the card is offered under the Shariah contract of Commodity Murabahah (sale on cost plus profit basis) via five contracts: (a) Tawarruq (monetization), (b) Wakalah (agency), (c) Qard (loan), (d) Ibra' (rebate) and (e) Hibah (gift). Qard applies to the over-limit amount and carries no charge. Late payment charges in excess of the bank's actual loss are transferred to a Gharamah (penalty) account and distributed to charity under Shariah Board supervision. This card launched under Tawarruq from the outset — it is not a conversion from ujrah or bai' al-inah.

Approved by Shariah Board, under the supervision of Bank Negara Malaysia.

What it costs

Every figure below comes from alrajhi bank Malaysia’s own published documents. Where the bank does not publish a number we say so rather than estimate it.

Annual fee

No annual feeWaived for life on both principal and supplementary cards.source

Supplementary card

RM 0Waived for life.source

Profit rate

18% a yearThe PDS states profit charges on purchases as a three-tier structure: 15% p.a. for cardholders who promptly settle the minimum payment due for twelve (12) consecutive months; 17% p.a. for ten (10) or eleven (11) months in a twelve-month cycle; 18% p.a. where the payment record does not fall under the above categories. Cash withdrawal is 18% p.a. The value recorded here (18.0) is the default/standard rate that applies unless the prompt-payment tiers are met. The bank publishes NO separate contractual ceiling profit rate for this card and NO monthly percentage — the PDS and the Fees & Charges schedule state per-annum figures only, so profit_rate_monthly_pct is null rather than derived. A 20-day grace period of no profit charge applies to retail transactions if the previous statement was paid in full by the due date; there is no grace period on cash withdrawals.source

Cash withdrawal

Cash withdrawal fee per withdrawal: local RM1.00, overseas RM17.00. Both subject to 8% service tax. Cash withdrawal limited to a maximum of 70% of the facility limit.

Late payment

RM 101% of the total outstanding balance or a minimum of RM10.00, whichever is higher, up to a maximum of RM100.00. Any amount above the bank's actual loss goes to a Gharamah account distributed to charity.

Over limit

RM 0

Foreign currency spend

1.18% on top of the exchange rate

Replacement card

RM 22

What you get back

• 5% cashback on dining, groceries, online transactions and utility payments, capped at RM30 per month
• Unlimited 0.2% cashback on all other eligible retail purchases

Other benefits

• Zero annual fee for life on both principal and supplementary cards
• Structured under the Tawarruq concept — Shariah-compliant
• Cashback and payment calculators published on the product page

Before you apply

• The 5% cashback cap is RM30 per month, i.e. it saturates at RM600 of qualifying monthly spend.
• A Card Service Tax of RM25.00 per card is charged on the card activation date and on each anniversary of activation — the bank passes the government service tax on to the cardholder rather than absorbing it.
• Profit charges start at 18% p.a. by default; the lower 15% and 17% tiers must be earned by a 12-month prompt-payment record.
• Cardholders must not use the card at Shariah non-compliant merchants; the PDS lists the prohibited merchant category codes (alcohol, gambling, casinos, dating/escort services, massage parlours, tobacco).

Can you get it?

Age

21 to 65

Other conditions

The product page states eligibility as: minimum age 21 years old, maximum age 65 years old, and 'Minimum annual income: RM24,000'. The issuer states an ANNUAL income figure only — no monthly figure is published, so min_monthly_income is left null rather than derived by division. RM24,000 per year is exactly Bank Negara Malaysia's regulatory floor for credit card eligibility.

What to have ready

• Salaried employees: photocopy of IC / identification document
• Salaried employees: latest 12 months' EPF statements
• Self-employed: photocopy of IC / identification document
• Self-employed: latest 6 months' company bank statements
• Self-employed: business registration form
• Self-employed: personal or business income tax returns for the last 2 years, with proof of tax payments

Where these figures come from

Last checked against alrajhi bank Malaysia’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.

• “The alrajhi bank Malaysia Credit Card-i ("Card") is a Shariah-compliant card primarily used for purchasing good and services. ... The Card product and services are offered under the Shariah contract of Commodity Murabahah (Sale on cost plus profit basis) via: a. Tawarruq (Monetization) b. Wakalah (Agency) c. Qard (Loan) d. Ibra' (Rebate) e. Hibah (Gift) — Product Disclosure Sheet, 18 March 2026, p.1”
• “Structured under the Tawarruq concept. This card offers you credit convenience while remaining in full compliance with Shariah principles. — product page, alrajhi bank Malaysia, Visa Platinum Credit Card-i tab”
• “Annual Fee: Signature Principal: RM500.00* Signature Supplementary: RM300.00* Platinum Principal and Supplementary: Waived — Product Disclosure Sheet, 18 March 2026, p.1”
• “Profit charges a. Purchases • Promptly settle the minimum payment amount due for twelve (12) consecutive months: 15% p.a. • Promptly settle the minimum payment amount due for ten (10) or eleven (11) months in a twelve (12)-month cycle: 17% p.a. • Payment record do not fall under the above categories: 18% p.a. b. Cash withdrawal: 18% p.a. — Product Disclosure Sheet, 18 March 2026, p.2”
• “Late Payment Charge: 1% of the total outstanding balance or a minimum of RM10.00, whichever is higher, up to a maximum of RM100.00. — Product Disclosure Sheet, 18 March 2026, p.1”
• “Conversion rate: When you use the Card in a foreign currency, the amount will be converted to Ringgit Malaysia (MYR) at the exchange rate determined by Visa International on the processing date, plus a 1.18% foreign currency conversion mark-up imposed by the Bank — Product Disclosure Sheet, 18 March 2026, p.1”
• “Card Service Tax: RM25.00 per Card (Imposed on the Card activation date and on each subsequent anniversary of the Card's activation date). — Product Disclosure Sheet, 18 March 2026, p.1”
• “Over Limit (Qard): No charge — Product Disclosure Sheet, 18 March 2026, p.1”
• “Replacement Card Fee: RM22.00 per Card — Product Disclosure Sheet, 18 March 2026, p.1”
• “Cash Withdrawal Fee** (per withdrawal): Local: RM1.00 Overseas: RM17.00 — Product Disclosure Sheet, 18 March 2026, p.1”
• “Eligibility 21 years old Minimum age 65 years old Maximum age Minimum annual income: RM24,000 — product page, alrajhi bank Malaysia, Visa Platinum Credit Card-i tab”
• “Enjoy 5% cashback On dining, groceries, online transactions, and utility payments, capped at RM30 per month. Unlimited 0.2% cashback On all other eligible retail purchases. — product page, alrajhi bank Malaysia, Visa Platinum Credit Card-i tab”
• “The Bank may utilize the Late Payment Charges received to offset the actual loss incurred due to the Cardholder's delay in payment. Any excess amount shall be transferred to a Gharamah (penalty) account, to be distributed to charitable organizations selected by the Bank, under the supervision of its Shariah Board. — Product Disclosure Sheet, 18 March 2026, p.1”

• Product page
• Schedule of charges
• Terms and conditions