Visa Platinum-i

What makes this card Islamic

Bank Muamalat Malaysia Berhad 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.

Bank Muamalat states the product is 'structured under the concept of Tawarruq which is supported by other Shariah contracts including Murabahah, Wakalah and binding promise under the concept of Wa'd Mulzim'. Under Wakalah the customer appoints the Bank as dual agent to buy and sell Shariah-compliant commodities; the Bank buys from a supplier at a Purchase Price, sells to the customer at a Selling Price on a Murabahah cost-plus deferred basis, then sells the commodity on the customer's behalf to a third party for cash, and those cash proceeds form the card's credit limit. Ibra' (rebate) is granted on unutilised profit on early settlement, and any amount settled within the grace period receives a full rebate. No bai' al-inah wording appears anywhere in the current Bank Muamalat card documents read.

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

What it costs

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

Annual fee

RM 138First year annual fee waived; subsequent years waived subject to a minimum of 12 retail transactions per yearsource

Supplementary card

RM 68RM68.00 per supplementary cardsource

Profit rate

1.5% a month on the outstanding balance18% a year as stated by the banksource

Cash withdrawal

Service fee 2.0% on the withdrawn amount or RM30, whichever is higher. Profit on cash withdrawals is capped at 1.5% per month (18% p.a.) with no grace period.

Late payment

Ta'widh (compensation): 1% of the outstanding balance (retail transactions and cash withdrawals only), subject to a maximum of RM100. Not compounded and not added to arrears for profit computation.Ta'widh (compensation): 1% of the outstanding balance (retail transactions and cash withdrawals only), subject to a maximum of RM100. Not compounded and not added to arrears for profit computation.

Over limit

RM 0

Foreign currency spend

1% on top of the exchange rate

Replacement card

RM 50

Takaful cover

Credit Card Shield Takaful Plan, underwritten by Syarikat Takaful Malaysia Berhad, fully borne by the Bank for all card types. Complimentary Takaful coverage on the Credit Card-i outstanding balance up to RM100,000 (death and total & permanent disablement) plus a fixed RM1,000 funeral expenses benefit. Complimentary travel accident takaful coverage is additional and its sum covered varies by card.

What you get back

• Unlimited 1% cash back on overseas spend (face-to-face retail transactions only)
• 1% cash back on e-commerce spend
• 0.3% cash back on contactless spend

Other benefits

• Complimentary travel accident takaful coverage up to RM250,000
• 0% Balance Transfer Plan
• 0% Instalment Payment Plan for 6 and 12 months
• InstaCash cash instalment plan over 12/24/36/48 months
• Complimentary Takaful coverage on outstanding balance up to RM100,000 (plus RM1,000 funeral expenses)

Before you apply

• The RM25 government service tax is charged on EACH principal AND EACH supplementary card, on the activation date and every issuance anniversary - it is passed on to the cardholder, not absorbed.
• The lowest 15% tier requires prompt minimum payment for 12 consecutive months; cardholders outside the top two tiers pay 18% p.a.
• Cash withdrawals get no grace period at all and are charged 18% p.a. from day one, plus a 2% (min RM30) service fee.
• Cash withdrawal is limited to 70% of the available limit.
• The 20+4 day grace period on retail transactions applies only if the previous month's statement balance was settled in full.
• Bank Muamalat does not publish a numeric ceiling profit rate distinct from the tiered actual rates - the PDS refers to 'total ceiling profit' without a percentage.

Can you get it?

Age

21 to 70

Other conditions

Bank Muamalat states an ANNUAL INCOME requirement of 'Above RM36,000'. Principal cardholder minimum age 21, maximum 70. Supplementary cardholder minimum age 18, maximum 70.

What to have ready

• A copy of NRIC (front & back)
• Employed: latest 1 month payslip, or latest EPF statement, or latest EA form, or latest BE form
• Self-employed: latest 6 months bank statements, copy of business registration, and latest 1 year Income Tax Assessment (Form B) with official tax receipt

Where these figures come from

Last checked against Bank Muamalat Malaysia Berhad’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 product is structured under the concept of Tawarruq which is supported by other Shariah contracts including Murabahah, Wakalah and binding promise under the concept of Wa'd Mulzim. - Product Disclosure Sheet, Credit Card-i, p.1”
• “Retail Purchases 15% - Cardholders who promptly settle the minimum payment amount due for 12 consecutive months. 17% - Cardholders who promptly settle the minimum payment amount due for 10 months or more in a 12-month cycle. 18% - Cardholders who do not fall within the above categories. - Product Disclosure Sheet, p.2”
• “Cash Withdrawals 18% - Up to 70% of the available limit. No grace period on cash withdrawals. - Product Disclosure Sheet, p.2”
• “Profit rate for cash withdrawal transactions shall be capped at a maximum of 1.5% per month, which is equivalent to 18%* per annum. - Product Disclosure Sheet, p.1”
• “Ta'widh (Compensation): In the event that you do not meet the minimum monthly payment payable by the due date, you will be charged 1% of the outstanding balance (comprising retail transactions and cash withdrawals only), subject to a maximum of RM 100. - Product Disclosure Sheet, p.1”
• “Cash Withdrawal Fee - Service Fee 2.0% on withdrawn amount OR RM 30, whichever is higher. - Product Disclosure Sheet, p.1”
• “Lost Card Replacement RM 50 per card (for loss due to Customer negligence) - Product Disclosure Sheet, p.1”
• “Over Limit Charges - Not Applicable - Product Disclosure Sheet, p.1”
• “Conversion for Overseas Transaction ... 1% service fee is charged on the converted amount. - Product Disclosure Sheet, p.1”
• “Service Tax RM 25.00 for each Principal and Supplementary Card. Service Tax will be charged on the Card activation date and every subsequent anniversary of the issuance date. - Product Disclosure Sheet, p.2”
• “Credit Card Shield Takaful Plan - The coverage is fully borne by the Bank for all card types. - Product Disclosure Sheet, p.1”
• “The Customer is granted a 20 + 4 days grace period on Retail Transactions only, provided that all outstanding balance as per the previous month statement is fully settled. ... Any amount settled within the grace period is subject to full rebate (Ibra`) by the Bank. No grace period is granted for Cash Withdrawals. - Product Disclosure Sheet, p.1”
• “Ibra' formula: Outstanding Selling Price - Outstanding Principal - Amount Due to the Bank - Reduction of Ibra' - Product Disclosure Sheet, p.2”
• “Annual Income Above RM36,000 / Principal Annual fees RM138.00 / Supplementary Annual fees RM68.00 - Bank Muamalat Visa Platinum-i product page, Eligibility & Fees”
• “Principal Min. Age : 21 years old | Max. Age : 70 years old - product page”
• “Annual Fee Visa Platinum* a) Principal: RM 138 per card b) Supplementary: RM 68 per card - Product Disclosure Sheet, p.1”

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