Faysal Islami Noor Velocity Card

What makes this card Islamic

Faysal 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.

Tawarruq executed through a Musawamah contract. The customer buys Islamic Mutual Fund units from the bank on deferred payment at a Musawamah Price, then instructs an appointed agent to sell those units to a third party (the mutual fund company) for cash, which is deposited into the customer's Mudarabah account and made available as the card limit. This is a TRUE REVOLVING CREDIT CARD, not a charge card: the bank states explicitly that the card allows a minimum monthly payment. If less than the Total Payment Required is paid by the due date, the bank demands Accrued Profit under the Musawamah agreement.

Approved by Faysal Bank Limited Shariah Board, under the supervision of State Bank of Pakistan.

What it costs

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

Annual fee

Rs 6,500Annual fee is reversed if Rs. 20,000 is spent on the card within 60 days. Utility bill payments do not count as spend for fee reversal.source

Supplementary card

Rs 1,600Reversed on spend of Rs. 10,000 within 60 days. Up to 5 supplementary cards, for family aged 14 and above.source

Profit rate

43% a yearThe Key Facts Statement states three APRs by customer segment: Salaried Approved 43%, Salaried Unapproved 44%, Self Employed 45%. Profit on retail transactions and on cash advance are both stated as 'Minimum 43% per annum on outstanding balance'. Daily profit = Outstanding Balance x APR / 365. Profit-free period of up to 50 days applies only if the Total Required Amount is paid in full by the due date. A monthly profit rate is NOT published in the Noor Card KFS (it is published only for the Noor Flexi Card), so it is left null here rather than derived.source

Cash withdrawal

Rs. 35 per transaction for ATM cash withdrawal off-net (Off-Us). The product page states 'Cash Withdrawal with NO upfront fee and NO daily profit'. This appears to conflict with the Key Facts Statement, which states 'Profit on Cash Advance: Minimum 43% per annum on outstanding balance'. Both are recorded verbatim in quotes[]; the conflict is unresolved. Cash withdrawal limit for Velocity: Rs. 25,000 or 10% of the card limit, whichever is lower.

Late payment

Rs 2,500Faysal does not use the term 'late payment fee'. It levies a 'Musawamah Payment' of Rs. 2,500 per instance, at the bank's sole discretion, where payment is delayed beyond the due date or is less than the minimum required. NOTE: the Schedule of Charges for Jan-Jun 2026 states Rs. 2,250 per instance; the Jul-Dec 2026 Key Facts Statement states Rs. 2,500 per instance. The KFS is the current period.

Foreign currency spend

4.5% on top of the exchange rate

Replacement card

Rs 1,500

Takaful cover

Noor Takaful charged at 0.69% of monthly outstanding balance. Underwritten by EFU Life-WTO. Covers Basic Life, Additional Accidental Death, Permanent Total Disability, Temporary Total Disability (pays the minimum monthly payment for up to 12 months, nothing for the first 45 days), Critical Illness and Terminal Illness. Faysal Bank acts as agent for the takaful partner.

What you get back

• Earn 1 reward point on every local spend of Rs. 100
• Earn 3x Reward Points on selected Charitable and Social Service organizations
• Reward points validity is 12 months (Schedule of Charges note)
• Redeem at 200+ outlets across Pakistan

Other benefits

• Discounts of up to 30% at partner merchants (Velocity tier)
• Installment plans via Faysal DigiMall with no pre-payment / early settlement charges
• Up to 5 supplementary cards; supplementary holders may be aged 14 and above
• Auto-debit of full or minimum payment from a Faysal Bank account
• Mastercard Contactless, Chip & PIN and 3D Secure
• Non-Shariah-compliant Merchant Category Codes are blocked on the card by the bank

Before you apply

• 43-45% APR is high in absolute terms; the profit-free period of up to 50 days only applies if the FULL statement balance is paid by the due date.
• The product page claims 'NO daily profit' on cash withdrawal while the Key Facts Statement states a minimum 43% per annum on cash advance. Treat cash withdrawal as profit-bearing until the bank clarifies.
• International / FX transactions cost 4.5% of the transaction amount, including Dynamic Currency Conversion transactions.
• A chip maintenance fee of Rs. 1,500/year on the primary card and Rs. 1,000/year on each supplementary card is charged on top of the annual fee.
• Utility bill payments made on the card do NOT count toward the spend needed to reverse the annual fee.
• State Bank of Pakistan caps international card spend at USD 30,000 per person per year.

Can you get it?

Other conditions

The Key Facts Statement prices by segment — Salaried Approved (43% APR), Salaried Unapproved (44% APR) and Self Employed (45% APR) — which confirms the card IS available to self-employed / non-salaried applicants, at a 2-point APR premium. No minimum income figure is published in the KFS, the Schedule of Charges, or the product page. Card limit and variant are set solely at the bank's discretion on eligibility, documents and debt burden ratio. Maximum card limit across all Noor tiers: Rs. 7,000,000. Card expiry 3 years.

Where these figures come from

Last checked against Faysal 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.

• “Faysal Islami Noor Card is Pakistan's first fully Shariah Compliant alternative to conventional credit cards based on the principal of Tawarruq. — Noor Card FAQs PDF, Q1”
• “Is Faysal Islami Noor Card the same as charge card? Faysal Islami Noor Card is NOT the same as charge card. The card allows you to pay a minimum monthly amount of the required amount or partial amount as opposed to charge card where full amount is payable on payment required date. — Noor Card FAQs PDF, Q6”
• “Once the Assets come under your ownership, you instruct the agent to whom you appoint at the time of signing of application to sell the Assets to third party (Mutual fund Company) on your behalf and deposit the sale proceeds (funds) in your Mudarabah based account maintained with Faysal Bank Islami to utilize later in the form of card limit. — Noor Card FAQs PDF, Q3”
• “Card Type Velocity* ... Annual Fee Rs. 6,500/- ... Rs. 20,000/- ... Rs. 600/- ... Reversal Criteria: Annual fee will be reversed if required spend conducted on card within 60 days. — Noor Card Key Facts Statement Jul-Dec 2026, s.2.1”
• “Supplementary Cards: Velocity* Annual Fee Rs. 1,600/- ... Rs. 10,000/- ... Annual Fee will be reversed on spend within 60 days. — Noor Card KFS Jul-Dec 2026, s.2.1”
• “2.5: Annualized Percentage Rates (APR) — Salaried Approved: 43% / Salaried Unapproved: 44% / Self Employed: 45% — Noor Card KFS Jul-Dec 2026”
• “Profit on Retail Transaction — Minimum 43% per annum on outstanding balance. Profit on Cash Advance — Minimum 43% per annum on outstanding balance. — Noor Card KFS Jul-Dec 2026, s.2.6”
• “2.7: Profit Free Period — The profit free period applies on retail and cash withdrawal transactions only. Bank offers free period of up to 50 days only in case Total Required Amount is paid within due date. — Noor Card KFS Jul-Dec 2026”
• “2.2: Card Limits — Maximum Card Limit: Rs. 7,000,000*. Cash Withdrawal Limit: Velocity, Gold & Titanium: Rs. 25,000/- or 10% of the card limit (whichever is lower). — Noor Card KFS Jul-Dec 2026”
• “Musawamah Charges Rs. 2,500/- per instance — Noor Card KFS Jul-Dec 2026, s.2.11”
• “International Card Usage Fee — 4.5% of the transaction amount, including DCC transactions also — Noor Card KFS Jul-Dec 2026, s.2.11”
• “Card Replacement Charges Rs. 1,500/- — Noor Card KFS Jul-Dec 2026, s.2.11”
• “Chip Maintenance Fee — Annually Rs. 1,500/- applicable on all primary cards; Annually Rs. 1,000/- applicable on all supplementary cards — Noor Card KFS Jul-Dec 2026, s.2.11”
• “Noor Takaful 0.69% of monthly outstanding balance — Faysal Bank Schedule of Charges Jan-Jun 2026, p.54”
• “Note: You can pay your utility bills through Noor card but it will not be considered as spend for any fee reversals. — Noor Card KFS Jul-Dec 2026, s.2.1”
• “2.15: Blocking of Merchant Category Code (MCC) — FBL has identified the following Merchant Category codes as Non-Shariah compliant and will be blocked for FBL Islami Noor Card usage — Noor Card KFS Jul-Dec 2026”
• “2.16: International Spend Capping — Annual limit of $30,000/- or equivalent within one year per individual on all card based international/ cross border transactions. (As per SBP instruction starting from November 1st 2022). — Noor Card KFS Jul-Dec 2026”
• “Cash Withdrawal with NO upfront fee and NO daily profit — Faysal Islami Noor Velocity Card product page”
• “Earn 1 reward point on every local spend of Rs. 100. Earn 3x Reward Points on selected Charitable and Social Service organizations. — Faysal Islami Noor Velocity Card product page”

• Product page
• Schedule of charges
• Terms and conditions