Visa Signature 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 covers both the Platinum and Signature Credit Card-i and states they are 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). Launched under Tawarruq from the outset — 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

RM 500Waived for the first year. From the second year onwards the annual fee remains waived if the card is used at least once every calendar month for the past 12 months.source

Supplementary card

RM 300Supplementary card RM300.00, same waiver condition as the principal card.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 — 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; 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

• Up to 10% cashback on all overseas spend, capped at RM80 per month
• Unlimited 0.6% cashback on other eligible local spend

Other benefits

• 2x complimentary Priority Pass airport lounge visits annually
• 24/7 Visa concierge service for travel, dining and lifestyle assistance
• Annual fee waived for the first year and thereafter with a minimum of one transaction per month for 12 consecutive months
• Structured under the Tawarruq concept — Shariah-compliant

Before you apply

• The 10% overseas cashback cap is RM80 per month, i.e. it saturates at RM800 of overseas monthly spend.
• RM500 principal annual fee applies from year two unless the card is used at least once in every calendar month for 12 consecutive months.
• A Card Service Tax of RM25.00 per card is charged on activation and each anniversary — passed on to the cardholder, not absorbed.
• Profit charges start at 18% p.a. by default; lower 15% and 17% tiers must be earned by prompt-payment record.
• The PDS lists Shariah non-compliant merchant category codes at which the card must not be used.

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: RM60,000'. 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.

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.

• “Experience elevated rewards, wherever life takes you. Earn up to 10% cashback on overseas spend, complimentary Priority Pass lounge visits and 24/7 Visa concierge service — all with the alrajhi bank Malaysia Visa Signature Credit Card-i. — product page, Visa Signature Credit Card-i tab”
• “Structured under the Tawarruq concept. This card offers you premium credit convenience while remaining in full compliance with Shariah principles. — product page, Visa Signature Credit Card-i tab”
• “Earn up to 10% cashback On all overseas spend (capped at RM80 per month). Enjoy unlimited 0.6% cashback On other eligible local spend. — product page, Visa Signature Credit Card-i tab”
• “Complimentary airport lounge access Enjoy 2X complimentary access to Priority Pass airport lounge annually. — product page, Visa Signature Credit Card-i tab”
• “Annual fee waiver Annual fee waived for the first year and subsequently waived with a minimum of one transaction per month for 12 consecutive months. — product page, Visa Signature Credit Card-i tab”
• “Eligibility 21 years old Minimum age 65 years old Maximum age Minimum annual income: RM60,000 — product page, Visa Signature Credit Card-i tab”
• “Annual Fee: Signature Principal: RM500.00* Signature Supplementary: RM300.00* Platinum Principal and Supplementary: Waived. *Annual fee is waived for the first year. For the second year onwards, the annual fee will remain waived if the Card is used at least once every calendar month for the past 12 months. — Product Disclosure Sheet, 18 March 2026, p.1”
• “Annual Fee for Visa Signature Principal: RM500.00 Supplementary: RM300.00 Annual fee waived for the first year and subsequently waived with a minimum of one transaction per month for 12 consecutive months. — Fees & Charges as at 29 July 2026, section 10 Credit Card-i”
• “Profit charges a. Purchases • ...twelve (12) consecutive months: 15% p.a. • ...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”
• “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”

• Product page
• Schedule of charges
• Terms and conditions