Gold MasterCard Credit Card-i

What makes this card Islamic

Public Islamic Bank 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.

Commodity Murabahah via Tawarruq arrangement, supported by Murabahah, Wakalah (dual agency) and Wa'd. MIGRATION: ran on Ujrah + Qard until late 2025; conversion announced 26 November 2025 with no explicit effective date in the announcement. Superseded PDS dated 20 March 2025 named Ujrah + Qard; current PDS (IPD083/REV310726, valid as at 31 July 2026) names Tawarruq. No evidence of Bai' al-Inah found for this bank.

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

What it costs

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

Annual fee

RM 150First year waived; subsequent years waived on a minimum of 12 transactions over the preceding 12 months.source

Supplementary card

RM 100Same Free-For-Life waiver applies to supplementary cards.source

Profit rate

15% a yearCEILING PROFIT RATE = 18% p.a. (Cardmember Agreement definition 11). EFFECTIVE PROFIT RATE tiered on retail purchases: 15% / 17% / 18% p.a. by prompt-payment record. Cash advance flat 18% p.a. Ibra' equals deferred profit (Ceiling minus Effective). profit_rate_annual_pct records the best-case 15%; worst case is 18%.source

Cash withdrawal

Mastercard cash withdrawal fee — Local: RM1.20 + 0.01%; Overseas: RM3.80 + 0.29%.

Late payment

RM 10Ta'widh: minimum RM10 or 1% of total outstanding balance, whichever is higher, capped at RM100. Not compounded.

Foreign currency spend

1.25% on top of the exchange rate

What you get back

• 1% Cash Back on groceries (MCC 5411) transactions
• Capped at RM10 per monthly statement cycle (combined between Principal and Supplementary accounts)

Other benefits

• Waqaf donation: 0.1% of total dining (MCC 5812 & 5814) transactions donated by the bank to Yayasan Waqaf every month, capped at RM100 per monthly statement cycle
• 0% Balance Transfer Plan for 6 months on amounts of RM1,000 and above
• 20-day grace period on retail purchases when the previous month's balance is settled in full by the due date
• Non-compounding profit charges
• Entry-level income requirement at Bank Negara Malaysia's RM24,000 p.a. floor

Before you apply

• Government service tax of RM25 per annum on the Principal Card plus RM25 per annum on each Supplementary Card — passed on, not absorbed. That RM25 can exceed a light user's annual cashback given the RM10 monthly cap.
• The RM10 monthly cashback cap is reached at only RM1,000 of qualifying grocery spend per cycle.
• Extensive cashback exclusion list (petrol, insurance/takaful, recurring payments, cash advances, quasi-cash, balance transfer, government payments, charity, Flexipay instalments, PB Easy Cash, direct debit, online/mobile banking and ATM payments).
• Annual fee waiver requires at least 12 transactions in the preceding 12 months; otherwise RM150 applies.
• Cardholders had to respond to the Ujrah-to-Tawarruq conversion exercise (accept or cancel).

Can you get it?

Age

21 to 70

Other conditions

Bank states an ANNUAL income figure: 'Minimum income requirement: RM24,000 per annum' — exactly Bank Negara Malaysia's national floor. Age: 'Principal Card Age: 21 – 70 years old'; 'Supplementary Card Age: 18 – 65 years old'.

What to have ready

• Copy of IC (both sides), or Passport for non-Malaysians

Where these figures come from

Last checked against Public Islamic Bank’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.

• “Minimum income requirement: RM24,000 per annum — Public Islamic Bank Gold MasterCard Credit Card-i product page”
• “1% Cash Back on groceries (MCC 5411) transactions — Public Islamic Bank Gold MasterCard Credit Card-i product page”
• “Capped at RM10 per monthly statement cycle — Public Islamic Bank Gold MasterCard Credit Card-i product page”
• “Based on Shariah principle of Commodity Murabahah via Tawarruq arrangement which refers to an arrangement that consists of two sale and purchase contracts. — Public Islamic Bank Gold MasterCard Credit Card-i product page”
• “Card Type: Public Islamic Bank Visa/Mastercard Gold — Principal RM150, Supplementary RM100. — Product Disclosure Sheet IPD083/REV310726, s.4(i)”
• “Credit Card Service Tax: RM25 per annum on the Principal Card; and RM25 per annum on each Supplementary Card — Product Disclosure Sheet IPD083/REV310726, s.4(ii)”

• Product page
• Schedule of charges
• Terms and conditions