Public Islamic Bank credit cards

Who Public Islamic Bank are

A fully Islamic bank — every product it offers is Shariah-compliant.

Wholly owned Islamic subsidiary of Public Bank Berhad. The bank's own About Us page states: 'Public Islamic Bank a wholly owned subsidiary of Public Bank, commenced its operations on 1 November 2008' and 'Since 1993, Public Islamic Bank has been offering Islamic banking products and services to the public when it started as a window via Public Bank.' The 'founded' value of 2008 records the commencement of the licensed Islamic bank; the Islamic window dates from 1993 and the company registration number 197301001433 dates from 1973 (the entity's original incorporation). HEADLINE FACT: Public Islamic Bank converted its Credit Card-i products from UJRAH to COMMODITY MURABAHAH VIA TAWARRUQ. The conversion was announced on 26 NOVEMBER 2025 under the title 'Conversion Exercise for Public Islamic Bank Credit Card-i from Shariah concept of Ujrah to Commodity Murabahah (via Tawarruq Arrangement)'. IMPORTANT NUANCE: unlike CIMB, the PIB announcement states NO explicit effective date — it says the bank 'intend[s] to convert' and gives cardholders two options, to agree by signing an Acceptance Form returned to cmcardconvert@publicislamicbank.com.my, or to disagree and cancel the card and settle the outstanding balance. The conversion is bracketed by two dated primary documents: the superseded Product Disclosure Sheet dated 20 March 2025 names 'the Shariah concept of Ujrah (fees are imposed for services)' plus Qard, while the current Product Disclosure Sheet (ref IPD083/REV310726, 'valid as at 31 July 2026') names Tawarruq (Commodity Murabahah) supported by Murabahah, Wakalah (dual agency) and Wa'd (purchase undertaking). No evidence of Bai' al-Inah was found in any Public Islamic Bank credit card document. STRUCTURE CHANGE DETAIL: under the old Ujrah model the bank charged a Monthly Fixed Management Fee (RM3,750 for Platinum, RM1,000 for Gold) rebated by ibra' down to an Actual Management Fee at the same 15% / 17% / 18% tiered rates; under Tawarruq the same tiered rates are now called the Effective Profit Rate, bounded by a Ceiling Profit Rate of 18% p.a. defined in the Cardmember Agreement. CARD COUNT: 4 active consumer credit cards-i, enumerated from the bank's own 'Our Cards' listing page and corroborated by the Product Disclosure Sheet — Visa Platinum Credit Card-i, Platinum MasterCard Credit Card-i, Visa Gold Credit Card-i, Gold MasterCard Credit Card-i. Searches found no Public Islamic Visa Signature-i, Visa Infinite-i, Quantum Mastercard-i or Petronas-i card; the Signature, Infinite and Quantum tiers exist only on the conventional Public Bank (PB) side. UNIFORM PRICING: Platinum tier RM333 principal / RM150 supplementary; Gold tier RM150 principal / RM100 supplementary; all Free-For-Life in practice (first year waived, subsequent years waived on a minimum of 12 transactions in the preceding 12 months). Ta'widh minimum RM10 or 1% of outstanding, capped RM100, not compounded. Foreign exchange spread 1.25%. Service tax RM25 per annum on the principal card plus RM25 per annum on EACH supplementary card. Minimum monthly repayment 5% of current balance or RM50, whichever is higher. 20-day grace period on retail purchases. Shariah Committee members are not published on the bank's public product pages, hence rather than a guess.