Ikhwan American Express Platinum Card-i

What makes this card Islamic

Maybank Islamic 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.

MIGRATION IN PROGRESS. Every Maybank Islamic Ikhwan card page carried this notice when read (2026 snapshots): "all Islamic Cards approved before 26th December 2025 will have their Shariah contract replaced from Ujrah and Qard to Commodity Murabahah". Commodity Murabahah is the Malaysian market's name for the Tawarruq (commodity murabahah) structure; "Commodity Murabahah" is Maybank Islamic's own verbatim wording — the pages read do NOT use the word 'Tawarruq' and do NOT name the commodity platform (Bursa Suq Al-Sila' is the usual venue but is NOT stated by the bank). LEGACY STRUCTURE (still described in the Product Disclosure Sheet Maybank hosts, updated October 2024): Ujrah (fee on services) for the Effective Management Fee, combined with Qard (loan) for use of the card limit, with Ibra' (rebate) granted against a Fixed Management Fee. No Bai' al-Inah is named in any Maybank Islamic card document read. The hosted PDS had not been reissued to reflect the Commodity Murabahah contract as at the last archived copy (8 November 2025), so its fee/rate table is still expressed in Ujrah terms.

What it costs

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

Annual fee

Lifetime fee waiverLifetime fee waiversource

Supplementary card

RM 0Waived (per PDS October 2024 annual fee table).source

Profit rate

1.25% a month on the outstanding balance15% a year as stated by the banksource

Cash withdrawal

One-time management charge of 2.52% of the amount withdrawn or a minimum of RM11.65 per transaction, whichever is higher, effective 7 January 2026 (stated by Maybank for Islamic Credit Cards across Visa / Mastercard / American Express). SUPERSEDES the October 2024 Product Disclosure Sheet, which still states 5% of the withdrawal amount or a minimum of RM18. The outstanding cash advance additionally attracts the Effective Cash Advance Management Fee of 18% p.a. / 1.50% per month, computed daily. American Express variants are covered by the same Islamic Credit Cards cash advance notice.

Late payment

RM 10A minimum of RM10 or 1% of total outstanding balance, whichever is higher, up to a maximum of RM100.

Foreign currency spend

2.5% on top of the exchange rate

Replacement card

RM 50

What you get back

• 8% cash back on online spend every month
• TreatsPoints earned on eligible spend, with a 3X TreatsPoints merchant list published separately
• 1x TreatsPoint only on education institutions, insurance/takaful providers, petrol and 0% EzyPay/EzyPay-i (effective 15 April 2016)
• No TreatsPoints on Government Bodies, FPX, JomPay, MyCDD or e-wallet reloads
• Welcome gift on application and qualifying spend

Other benefits

• Lifetime fee waiver
• Non-compounding charges
• Balance Transfer facility
• Express AutoPay facility
• American Express Global Experiences
• Eco-friendly card body made of bio-sourced polylactic acid (PLA) derived from non-edible corn

Before you apply

• An American Express-network Islamic card is unusual. It costs more abroad: American Express applies a 2.5% conversion charge, and non-USD charges are converted into US Dollars first and then into ringgit — two conversion steps, versus the Visa/Mastercard bundle of 1.25% network plus 1% issuer.
• American Express acceptance in Malaysia is materially narrower than Visa or Mastercard.
• The product page does not state the cash back cap; the cap is defined in the separate Cash Back Terms & Conditions, which was not read.
• Government service tax of RM25 is imposed on EACH principal and EACH supplementary Ikhwan credit card-i, on activation and on annual renewal. Maybank Islamic passes it on; it is not absorbed, and it applies even where the annual fee itself is waived.
• American Express conversions are charged at 2.5% of the converted amount, and non-USD charges are first converted into US Dollars before being converted into the billing currency (a second conversion step).
• The card is blocked at non-Shariah-compliant Merchant Category Codes: 5921 (beer/wine/liquor stores), 5993 (cigar stores), 7261 (funeral services and crematories), 7273 (dating services), 7800/7801/7802 (US government lotteries, licensed online casinos, licensed horse/dog racing), 7995 (betting), 9406 (non-US government lotteries) and 9754 (gambling — horse and dog racing, state lotteries).
• The Product Disclosure Sheet Maybank hosts for this card is dated October 2024 and still describes the Ujrah + Qard contract, while the product page announces the move to Commodity Murabahah for cards approved before 26 December 2025. Fee and rate figures below are the October 2024 PDS figures except where a later product-page notice supersedes them.

Can you get it?

Age

21 to 65

Other conditions

Maybank states the requirement as a MINIMUM ANNUAL INCOME of RM40,000 — no monthly figure is published, so min_monthly_income is left null. Malaysians. Principal cardholders 21 to 65 years old; supplementary cardholders 18 to 65 years old.

What to have ready

• Copy of NRIC (both sides) or Passport
• Salaried: latest 3 months' salary slips and latest 6 months' savings/current account statements
• Self-employed: Income Tax Return (Form B / latest EA form), Business Registration Certificate / Trading Licence / Form 9, Form 24, Form 49, and latest 6 months' company or personal bank statements
• Expatriates: letter from employer confirming duration of employment contract in Malaysia
• Supplementary cardholder: copy of NRIC (both sides) or Passport

Where these figures come from

Last checked against Maybank 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.

• “Annual fee: Lifetime-fee-waiver. Minimum annual income: RM40,000 — Maybank Islamic Ikhwan American Express Platinum Card-i product page”
• “You can now earn 8% Cash Back on online spend every month, collect TreatsPoints and receive Welcome Gift when you apply and spend with the card. — product page”
• “Malaysians with a minimum annual income of RM40,000. Principal cardholders: those between 21 to 65 years old. Supplementary cardholders: 18 to 65 years old. — product page, How To Apply”
• “All foreign charges converted by American Express apply a conversion of 2.5% to the converted amount. Charges made in foreign currency other than U.S. Dollars when the conversion is done by American Express be converted into U.S. Dollars before being converted in your billing currency. — PDS (October 2024), s.7”
• “Maybank Islamic Ikhwan American Express Platinum Credit Card-i — Fixed Management Fee RM15,000; Annual Fee Principal: Waived — PDS (October 2024), s.2 and s.7”
• “RETRIEVAL NOTE: www.maybank2u.com.my is unreachable from this network (Akamai edge times out on curl, Playwright and WebFetch alike). Every figure recorded here was read from the byte-identical Internet Archive capture of Maybank's own page or PDF; snapshot dates are given per card. No aggregator was used. Product page snapshot 2026-02-17; PDS snapshot 2025-11-08.”
• “A Maybank Islamic Ikhwan Credit Card-i is an Islamic Credit Card, based on the Shariah principle of Ujrah (fee on services). Under the Shariah principle of Ujrah, we are entitled to charge you the Effective Management Fee in exchange for all the services that are made available to you. — Product Disclosure Sheet, Maybank Islamic Ikhwan Credit Card-i (Updated October 2024), s.1”
• “Qard (loan): Under the Shariah contract of Qard, you may utilise the Card based on the Card Limit approved by us. — PDS (October 2024), s.2”
• “Ibra' (Rebate): We have the rights to give rebate on the Effective Management Fee and the rebate will be calculated based on the differences between Fixed Monthly Management Fee and Effective Management Fee and/or Effective Cash Advance Management Fee at the relevant Statement date. — PDS (October 2024), s.2”
• “Effective Management Fee: For prompt payment of 12/12 months 15% per annum / 1.25% per month; For prompt payment of 10/12 months 17% / 1.42%; For prompt payment of less than 10/12 months 18% / 1.50%. — PDS (October 2024), s.2”
• “Pendahuluan tunai (dikira atas dasar harian) 1.50% [bulanan] / 18% [tahunan] — PDS (October 2024), Bahasa Malaysia table, s.2 (cash advance, computed on a daily basis)”
• “Late Payment Charges: A minimum of RM10 or 1% of total outstanding balance, whichever is higher, up to a maximum of RM100 except for Maybank Islamic myimpact Ikhwan Mastercard Platinum Credit Card-i with zero late payment charges. — PDS (October 2024), s.5”
• “Service Tax: RM25 imposed on each principal and supplementary Ikhwan credit card-i — PDS (October 2024), s.7”
• “Card Card-i Replacement Fee: RM50.00 per card except for World Elite Mastercard Ikhwan Credit Card-i (RM175.00). — PDS (October 2024), s.7”
• “The exchange rate used for the conversion reflects a bundling of (i) currency conversion components of 1.25% imposed by Visa International/Mastercard International (in the case of Visa or Mastercard Cards), and (ii) 1% or other rate imposed by us periodically. — PDS (October 2024), s.7”
• “Dear valued customer, please be informed that all Islamic Cards approved before 26th December 2025 will have their Shariah contract replaced from Ujrah and Qard to Commodity Murabahah. — notice carried on every Maybank Islamic Ikhwan card product page”

• Product page
• Schedule of charges
• Terms and conditions