Saadiq Mastercard Platinum Credit Card

What makes this card Islamic

Standard Chartered Saadiq builds this card on a Murabahah contract. The bank buys the thing you want, then sells it to you at a stated cost plus a stated profit, payable later.

Commodity Murabaha (a tawarruq-type organised commodity sale). The Shariah Board pronouncement sets out the mechanism: SCBPL buys a commodity from Trader 1; sells it to the customer on deferred payment at a Murabaha price; the customer agrees to pay that price over an agreed tenor in monthly instalments; the customer (or its agent) sells the commodity on to a third-party purchaser; the proceeds are held by SCBPL in an internal NON-PROFIT-BEARING account and the customer spends them via the credit card. The bank may extend a discretionary discount on profit if the balance is settled within 51 days — the Islamic analogue of an interest-free grace period, framed as ibra' (rebate) rather than as a right.

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

What it costs

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

Annual fee

Not publishedReversal based on a stipulated spend requirement; the threshold is not published.

Profit rate

3.75% a month on the outstanding balance45% a year as stated by the banksource

Cash withdrawal

Rs. 1,200 per transaction, plus all charges passed on by the acquiring bank. Cash withdrawal limit is a maximum of 40% of the credit limit.

Late payment

Rs 2,000Rs. 2,000 or 10% of the minimum amount due, whichever is higher — and it is 'to be paid out in charity in accordance with Bank's charity fund policy approved by Bank's Shariah Board'. The bank does not keep it as income.

Foreign currency spend

5% on top of the exchange rate

Replacement card

Rs 1,500

What you get back

• 5% cashback on dining and groceries, capped at PKR 500 per month
• 5% cashback on e-commerce (online) transactions, capped at PKR 500 per month

Other benefits

• Access to 25+ airport lounges across the Middle East, North Africa and Pakistan via the Mastercard Airport Pass powered by DragonPass
• Saadiq Instalment Plan and Balance Transfer Facility at 42% p.a. / 3.5% per month
• No Standard Chartered account required to hold the card
• Automatic Billing Update — card details are refreshed with participating recurring-payment merchants on renewal

Before you apply

• The 51-day profit-free window is DISCRETIONARY, not contractual: 'The Bank may extend a discretionary discount on profit if I pay the credit amount within 51 days'.
• Foreign transactions cost a spread of Re 1 per USD PLUS up to 5% of the transaction amount, and up to 6% for QR payments — among the highest FX loads recorded in this dataset.
• Cash advances cost Rs. 1,200 per transaction plus acquirer charges.
• The annual fee is not published anywhere on the bank's website — only 'As per Annual Fee Grid'.
• Arbitration on a disputed transaction costs USD 500 or equivalent if the dispute is settled in the bank's favour.
• Minimum payment is only Rs. 500 or 1% of principal plus fees, which the bank itself warns 'will cost more and take longer to clear the balance'.
• SBP caps international card spend at USD 30,000/year and the bank blocks the card at USD 27,500.
• Cryptocurrency and FX dealing transactions are prohibited on the card by SBP rule.

Can you get it?

Age

21 and over

Other conditions

Minimum age 21 if salaried, 25 if self-employed — so the card IS open to self-employed applicants. Holding a Standard Chartered account is NOT mandatory: 'opening an account for credit card is not mandatory as credit card may be processed without account'. Maximum card limit Rs. 6,000,000. Up to 6 supplementary cards. Age and self-employed thresholds are recorded as secondary because they were returned by search-engine indexing of sc.com/pk rather than read in the raw MID text.

Where these figures come from

Last checked against Standard Chartered Saadiq’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.

• “The Shariah Board has reviewed the following documents relating to SCBPL's Islamic Credit Cards Product based on Commodity Murabaha structure — SCBPL Shariah Board pronouncement (fatwa)”
• “The proceeds will be kept by SCBPL in its internal non-profit bearing account and the Customer will be permitted to use the proceeds via credit card provided by SCBPL. — SCBPL Shariah Board pronouncement”
• “The Shariah Board hereby rules that the Islamic Credit Card offered by SCBPL – Saadiq is in accordance with the principles of Shariah and customers can take advantage of this facility, which relieves it from interest-based products. — SCBPL Shariah Board pronouncement, signed Dr. Sheikh Nizam Yaquby”
• “Profit Rate Saadiq Mastercard Platinum (Murabaha) — Product MasterCard Platinum / BTF /Aasan Instalment — Annual Profit Rate Up to 45 % / 42% — Monthly Profit Rate Up to 3.75 % / 3.5 % — Saadiq Credit Card MID (SCBPLSAADIQMID-CC&PF-14072026), p.3”
• “The Bank may extend a discretionary discount on profit if I pay the credit amount within 51 days and or in any other way that the Bank deems fit. Beyond 51 days daily profit will be accrued and charged in the statement. — Saadiq Credit Card MID, p.3”
• “Card limits — Maximum card limit Rs. 6,000,000 — Cash withdrawal limit Max 40% of the Credit Limit — Saadiq Credit Card MID, p.3”
• “Cash advances service Fee — Rs. 1,200 per transaction, plus all charges passed on by acquiring bank — Saadiq Credit Card MID, p.3”
• “A foreign transaction spread of Re 1*** per USD and up to 5% of the transaction amount**** Up to 6% of the transaction amount for all QR payments — Saadiq Credit Card MID, p.3”
• “Late payment charges — Rs 2,000 or 10% of the minimum amount due, whichever is higher ... (To be paid out in charity in accordance with Bank's charity fund policy approved by Bank's Shariah Board) — Saadiq Credit Card MID, pp.3-4”
• “Card replacement fee Rs. 1,500/- per card — Saadiq Credit Card MID, p.3”
• “Minimum monthly repayments — In case the current balance amount is more than Rs. 500, the minimum amount due will be equivalent to Rs. 500 or 1% of your principal balance amount, plus all fees & charges and monthly instalment applicable in the statement of account, whichever is higher. Hence it will cost more and take longer to clear the balance. — Saadiq Credit Card MID, p.3”
• “Max up to 6 supplementary cards can be issued to a Primary Card holder. — Saadiq Credit Card MID, p.5”
• “I understand that opening an account for credit card is not mandatory as credit card may be processed without account in Standard Chartered Bank (Pakistan) Limited — Saadiq Credit Card MID, p.5”
• “Once I activate my credit card, annual fee will be charged. Annual fee will be charged once every year. Annual fee can be reversed only based on the stipulated spend requirement. — Saadiq Credit Card MID, p.5”
• “Arbitration charges for disputed transaction — USD 500 or equivalent per transaction for all cards (in case dispute is settled in Bank's favour) — Saadiq Credit Card MID, p.4”
• “I am not allowed to make any transaction on Cryptocurrency and FX dealing through my Credit/Debit cards issued by the Bank which is restricted by State Bank of Pakistan. — Saadiq Credit Card MID, p.5”
• “As per SBP directives over foreign spending restriction capped at USD 30,000/- annually, your international Credit / Debit Card spending will be blocked by the Bank when reaches USD 27,500/- — Saadiq Credit Card MID, p.5”

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