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Islamic Credit Cards

Pakistan · 7 cards

Faysal Bank Islamic credit cards

Every Shariah-compliant card Faysal Bank currently offers, with the contract behind each one and the fee schedule it came from.

Fully Islamic bankTawarruq

Who Faysal Bank are

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

THE ONLY full-fledged Islamic bank in Pakistan found to issue Shariah-compliant credit cards. Incorporated 3 October 1994 as a public limited company under the Companies Ordinance 1984; converted from conventional to full Islamic banking, with the State Bank of Pakistan issuing it an Islamic Banking licence. The bank describes itself as 'the second largest full-fledged Islamic bank in Pakistan'. Branch-count figures on the bank's own site are inconsistent: the 'Brief History' section states '900+ Islamic banking branches' across '360+ cities', while another section of the same About Us page states '700 branches spread across 270 cities'. Both are recorded; neither is treated as settled. Card range: Faysal Islami Noor Card in five consumer tiers (Velocity, Gold, Titanium, Platinum, World), plus the Noor Flexi Card (cash-access) and the Noor Corporate Card (business). All use a Tawarruq structure executed through a Musawamah contract on Islamic Mutual Fund units. Credit ratings from VIS Credit Rating Company: AA+ long term, A-1+ short term.

Legal name
Faysal Bank Limited
Founded
1994
Parent group
Ithmaar Bank B.S.C. group (Bahrain) — parent relationship stated on faysalbank.com 'Group Information'; ownership percentage not verified in this research
Head office
Karachi, Pakistan
Regulator
State Bank of Pakistan
Shariah board
Faysal Bank Limited Shariah Board
faysalbank.com

All 7 Faysal Bank Islamic credit cards

Faysal Islami Noor Corporate Card

Annual fee
Rs 7,500
Profit rate
Not published
Minimum income
Not published
Structure
Tawarruq

Full breakdown

Faysal Islami Noor Flexi Card

Cash access up to 100% of the card limit, with discounts of up to 40%

Annual fee
Rs 9,000
Profit rate
3.58% /mo
Minimum income
Not published
Structure
Tawarruq

Full breakdown

Faysal Islami Noor Gold Card

1 reward point per Rs. 100 local spend, plus Karachi airport lounge access

Annual fee
Rs 11,000
Profit rate
43%
Minimum income
Not published
Structure
Tawarruq
Reward points

Full breakdown

Faysal Islami Noor Platinum Card

Unlimited CIP and Majestic lounge access in Pakistan plus 25+ international lounges

Annual fee
Rs 19,000
Profit rate
43%
Minimum income
Not published
Structure
Tawarruq
Reward points

Full breakdown

Faysal Islami Noor Titanium Card

1 reward point per Rs. 100 local spend; up to 50% merchant discounts

Annual fee
Rs 13,000
Profit rate
43%
Minimum income
Not published
Structure
Tawarruq
Reward points

Full breakdown

Faysal Islami Noor Velocity Card

1 reward point per Rs. 100 of local spend; 3x points on charity and social-service donations

Annual fee
Rs 6,500
Profit rate
43%
Minimum income
Not published
Structure
Tawarruq
Reward points

Full breakdown

Faysal Islami Noor World Card

1,100+ international lounges via Mastercard Travel Pass, plus unlimited domestic CIP lounges

Annual fee
Rs 26,000
Profit rate
43%
Minimum income
Not published
Structure
Tawarruq
Reward points

Full breakdown

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