Nobody has to take our word for any of this. These are the standards and fatwas the banks themselves are working to, what each one actually says, and what it means for the person holding the card.
OIC International Islamic Fiqh Academy (IIFA)
Resolution No. 108 (2/12)12th session, Riyadh, Saudi Arabia, 25 Jumada al-Akhirah - 1 Rajab 1421 AH / 23-28 September 2000International (OIC member states; persuasive, not binding law)
Unsecured Credit Cards
It is forbidden to issue or use an unsecured credit card if its terms involve charging interest. The Academy adds that this holds 'even if the cardholder intends to pay within the moratorium period before charging interest'. The resolution also deals with issuance fees, the discount charged to merchants and service providers, and cash withdrawal.
What this means for you
This is the ruling behind the widely repeated position that a Muslim should not hold an ordinary credit card even if they always clear the balance before interest is due. The Academy's objection is to signing a contract that obliges you to pay interest in a defined situation, not to whether you ever actually pay it. It is the strictest of the mainstream positions and other bodies disagree with it, so treat it as one strongly-held view among several rather than the last word.
Resolution No. 109 (3/12)12th session, Riyadh, Saudi Arabia, 25 Jumada al-Akhirah - 1 Rajab 1421 AH / 23-28 September 2000International
Penalty Clause
'The imposition of a penalty clause in debt contracts is usurious in the strict sense.' A penalty clause may not be applied to an instalment-sale buyer who delays payment, nor to an istisna'a purchaser who fails to pay, whether through insolvency or evasion. Penalty clauses remain permissible in construction, supply and manufacturing contracts, where the primary obligation is not a debt, provided both parties agreed.
What this means for you
A charge for paying your card bill late is a penalty on a debt, and this resolution treats that as riba. It is the reason AAOIFI-following banks route late-payment money to charity or recover only their real costs, rather than booking it as income.
Five clauses. (1) 'It is permissible to issue and deal in unsecured credit cards, provided that issuing such Cards or dealing in them does not involve charging interest for repayment defaults.' (2) Issuance of secured credit cards is subject to Resolution No. 108 (2/12) on issuance fees, merchant discount and cash withdrawal. (3) It is permissible to use secured credit cards to buy gold, silver and currencies. (4) Issuers may not grant cardholders prohibited benefits such as commercial insurance or access to Shariah-banned facilities, but may grant Shariah-acceptable benefits like service priority and price discounts. (5) Islamic financial institutions issuing unsecured cards must observe the Shariah conditions and avoid any suspicion of interest or a pretext leading to it, such as debt-for-debt swaps.
What this means for you
Read with Resolution 108, the Academy's position is not that cards are forbidden, it is that interest is. A card with no interest charge for late or deferred payment can be issued and used. It also tells you that a free travel insurance or life cover thrown in with a card is a compliance question, while lounge access and merchant discounts are not.
Resolution No. 179 (5/19)19th session, Sharjah, United Arab Emirates, 1-5 Jumada al-Ula 1430 AH / 26-30 April 2009International
Essence and Types of Tawarruq: fiqh-compliant and bank-structured
Structured (organised) tawarruq and reverse tawarruq are prohibited. Structured tawarruq is where a person buys a commodity on credit from local or international markets and the seller, who is the financier, then arranges the sale of that commodity, directly, through an agent, or in collusion with the buyer. Reverse tawarruq is the same with the institution as buyer and the client as financier. Both are prohibited 'because they involve explicit, implicit or customary collusion between financer and finance seeker to make a trick for obtaining a present cash for a larger amount in future debt which is riba'. Classical fiqh-compliant tawarruq remains lawful where the ordinary Shariah conditions of sale are met.
What this means for you
Many Islamic cards, especially in Malaysia and the Gulf, are built on the bank-arranged version of tawarruq that this resolution names as prohibited. Banks that use it rely on AAOIFI's standard instead and on their own Shariah boards. If your card is a tawarruq or commodity murabahah card, you should know that a leading international body considers the structure impermissible. This is a live disagreement, not a settled question.
AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions)
Shariah Standard No. (2), Debit Card, Charge Card and Credit CardIssued 27 Safar 1421 AH / 31 May 2000; adopted by the AAOIFI Shariah Board at meeting No. (4), 25-27 Safar 1421 AH / 29-31 May 2000, Al-Madinah Al-MunawwarahMandatory regulatory requirement in Bahrain, Jordan, Kyrgyz Republic, Mauritius, Nigeria, Oman, Pakistan, Qatar, Qatar International Financial Centre, Sudan, Syria, United Arab Emirates and Yemen; recommended as guidance in Kuwait, per AAOIFI's own adoption page
Debit Card, Charge Card and Credit Card
Debit cards are permissible so long as the holder does not exceed the balance available and no interest arises (3/1). Charge cards are permissible if the holder is not obliged to pay interest on delay, any compulsory security deposit is invested for the holder's benefit on a mudarabah basis with profit shared, and the institution stipulates that the card is not used for Shariah-prohibited purposes (3/2). 'It is not permissible for an Institution to issue credit cards that provide an interest-bearing revolving credit facility, whereby the cardholder pays interest for being allowed to pay off the debt in instalments' (3/3). Fees to international card schemes are permitted so long as they include no interest 'even in an indirect way, such as in the case of increasing the service charge to cater for the granted credit' (4/1/2). Merchant commission as a percentage of the purchase price is permitted (4/2). Membership, renewal and replacement fees are permitted (4/3). A cash withdrawal fee must be 'a flat service fee ... proportionate to the service offered, but not a fee that varies with the amount withdrawn' (4/5/2). Prohibited privileges such as conventional life insurance may not be granted; permitted privileges such as service priority and hotel, airline or restaurant discounts may be (4/6). Appendix B adds: 'the issuance of credit cards free from Riba, or from any other legal prohibition, is permissible.'
What this means for you
This is the single most useful document for checking a card. Four tests come straight out of it and you can apply them to any product page: no interest for paying late or in instalments; a cash-advance fee that is flat rather than a percentage; a card fee that does not rise because the credit granted is bigger; and no conventional insurance bundled in as a perk. Note also what the standard does not say: it never mentions ujrah, tawarruq, kafalah or bai' al-inah in connection with cards, so a claim that AAOIFI 'endorses the ujrah card' is over-reading it.
Shariah Standard No. (3), Procrastinating DebtorIssued 27 Safar 1421 AH / 31 May 2000; amendments adopted by the Shariah Board at meeting No. (38), 28 Sha'ban - 1 Ramadan 1435 AH / 26-28 June 2014Same adoption list as Standard No. 2
Procrastinating Debtor
Default in payment by a debtor who is capable of paying is prohibited (2/1/1). 'It is not permitted to stipulate any financial compensation, either in cash or in other consideration, as a penalty clause in respect of a delay by a debtor in settling his debt, whether or not the amount of such compensation is pre-determined; this applies both to compensation in respect of loss of income (opportunity loss) and in respect of a loss due to a change in the value of the currency of the debt' (2/1/2). No judicial demand may be made for such compensation either (2/1/3). The debtor is liable for legal and other expenses actually incurred in recovering the debt (2/1/4). It is permissible to stipulate an undertaking by the debtor to donate an amount or a percentage of the debt to charitable causes through the institution if he procrastinates (2/1/8). Blacklisting and warning other companies is permitted (2/4).
What this means for you
In AAOIFI jurisdictions your bank cannot legitimately profit from your lateness. It can recover what chasing you actually cost, it can require you to donate to charity, and it can wreck your credit record. If a card in one of those markets shows a late fee that scales with your balance and is booked as income, that is worth challenging.
Shariah Standard No. (5), GuaranteesDate of issuance not recorded in this research file; see the standard's own 'Date of Issuance' clauseSame adoption list as Standard No. 2
Guarantees
'It is not permissible to take any remuneration whatsoever for providing a personal guarantee per se, or to pay commission for obtaining such a guarantee. The guarantor is, however, entitled to claim any expenses actually incurred during the period of a personal guarantee' (3/1/5). For letters of guarantee, remuneration is not permitted where it is consideration for the guarantee itself, 'since the amount guaranteed and the duration of the guarantee are usually taken into consideration in computing remuneration' (6/1/1), though administrative expenses may be charged if they do not exceed what others would charge for such services (6/1/2). Agency and personal guarantee may not be combined in one contract at the same time (2/2/2). Appendix B: a guarantee 'is one of the contracts of charity' and 'the majority of Fuqaha agree that it is prohibited to take consideration for guarantee'.
What this means for you
This is the direct source of the split with Indonesia. A card sold in an AAOIFI jurisdiction should not charge you a fee for the bank guaranteeing your purchases; a card sold in Indonesia may, under DSN-MUI Fatwa 54. Both are certified compliant at home.
Shariah Standard No. (30), Monetization (Tawarruq)Issued 1 Dhul-Qa'dah 1427 AH / 13 November 2006; adopted by the Shariah Board at meeting No. (17), Makkah, 26 Shawwal - 1 Dhul-Qa'dah 1427 AH / 18-23 November 2006Same adoption list as Standard No. 2
Monetization (Tawarruq)
Tawarruq is distinguished from bai' al-inah, which is 'strictly prohibited' (4/5) and described in Appendix B as 'a trick for practicing Riba'. Tawarruq is permitted subject to controls: a real commodity the seller owns before selling, not gold, silver or currency, with a binding promise from only one party (4/1); the commodity identified and separated (4/2); actually or constructively received by the buyer (4/4); sold to a genuine third party and not returned to the seller by prior agreement, collusion or custom (4/5); the two contracts not linked so that the client loses his right to receive the commodity (4/6); 'The client shall not delegate the Institution or its agent to sell, on his behalf, a commodity that he purchased from the same Institution and, similarly, the Institution shall not accept such delegation' (4/7); the institution shall not arrange a third-party proxy to sell for the client either (4/8). 'Monetization is not a mode of investment or financing. It has been permitted when there is a need for it' (5/1).
What this means for you
AAOIFI permits tawarruq but disables the automation that makes it convenient. If your card's tawarruq is executed end to end by the bank with no action from you, it is hard to square with clauses 4/7 and 4/8, and the OIC Fiqh Academy prohibits that version outright.
Adoption of AAOIFI StandardsPage as published and read on 17 August 2026Multiple
Jurisdictions applying AAOIFI Shariah Standards
AAOIFI states that its Shariah Standards are adopted as mandatory regulatory requirements in Bahrain, Jordan, the Kyrgyz Republic, Mauritius, Nigeria, Qatar, the Qatar International Financial Centre, Oman, Pakistan, Sudan, Syria, the United Arab Emirates and Yemen; and recommended as guidelines in Kuwait. It notes that national standards in Kazakhstan were developed on the basis of AAOIFI Shariah standards, and carries a caveat that a survey is being carried out to ascertain the exact number of countries and jurisdictions and their level of adoption.
What this means for you
This list tells you which rulebook your card is likely to be judged against. In those markets, AAOIFI Shariah Standard No. 2 is not advisory, it is regulation, and the four tests in it are enforceable questions to put to your bank.
Fatwa No. 54/DSN-MUI/X/2006Issued in Jakarta, 18 Ramadhan 1427 H / 11 October 2006. Signed by Dr. K.H. M.A. Sahal Mahfudh (Chairman) and Drs. H.M. Ichwan Sam (Secretary).Indonesia
Syariah Card
A Syariah Card is permitted subject to the fatwa's terms. Three contracts are used (clause Ketiga): kafalah, under which the issuer is guarantor for the cardholder against merchants for all payment obligations and for cash withdrawals from banks or ATMs other than the issuer's own, and for which the issuer may receive a fee (ujrah kafalah); qardh, under which the issuer lends to the cardholder on cash withdrawals from the issuer's own bank or ATM; and ijarah, under which the issuer provides the payment system and services and charges a membership fee. Five limits apply (clause Keempat): the card must not give rise to riba; it must not be used for transactions that do not accord with Shariah; it must not encourage excessive spending (israf), including by setting a maximum spending ceiling; the principal cardholder must have the financial ability to settle on time; and it must not provide facilities that contradict Shariah. On fees (clause Kelima): a membership fee is allowed as ujrah for permission to use the card facility; a merchant fee is allowed as ujrah for intermediation (samsarah), marketing (taswiq) and debt collection (tahsil al-dayn); a cash withdrawal fee is allowed as a charge for the service and facility 'yang besarnya tidak dikaitkan dengan jumlah penarikan', the amount of which is not linked to the amount withdrawn; a kafalah fee is allowed; and all of those fees must be set clearly and fixed at the time of the card application contract, except the merchant fee. On late payment (clause Keenam): ta'widh may be charged as compensation for costs the issuer actually incurred because of the cardholder's lateness, and a late charge (denda keterlambatan) may be imposed which 'akan diakui seluruhnya sebagai dana sosial', will be recognised entirely as social funds. Disputes go to the Shariah arbitration body or the Religious Court after negotiation fails (clause Ketujuh).
What this means for you
This is the most consumer-specific fatwa on the subject anywhere, and four of its rules are things you can check on a statement. Your cash-advance fee must not be a percentage of what you withdrew. Your fees must have been fixed and disclosed when you applied. Your late charge should be going to charity in full, not to the bank. And the card must carry a spending ceiling, because the fatwa treats encouraging overspending as a compliance failure and not merely bad practice. It also requires that the card not be used for non-halal purchases, which is a duty on you as well as the bank.
Bank Negara Malaysia, Shariah Advisory Council (SAC)
Shariah Resolutions in Islamic Finance, 2nd edition (2010), item 8918th SAC meeting, 12 April 2001Malaysia (the SAC is the highest Shariah authority for Islamic finance in Malaysia and a reference point for the courts)
Islamic Credit Card Based on Bai' 'Inah and Wadi'ah
A credit card structured on bai' al-inah, to raise the funds, plus wadi'ah, to hold them, is permissible, as is its use to buy gold, silver and other halal goods. The bank sells an asset to the customer at a nominal value plus profit on three years' deferred terms; the customer sells the same asset back for cash; the proceeds go into a wadi'ah account that funds card spending. The two sales must be executed consecutively as two separate and independent contracts. The SAC held that no ribawi-exchange problem arises because the transaction is cash against goods, and settlement is deducted from the customer's existing wadi'ah account.
What this means for you
If you hold a Malaysian card built this way, your debt was created up front against your whole limit, not against what you spend. It is also the structure that no AAOIFI jurisdiction permits, so scholars you respect may disagree with the bank's own Shariah committee about it.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), items 72 and 7316th SAC meeting, 11 November 2000; 82nd SAC meeting, 17 February 2009Malaysia
Conditions for Validity of Bai' 'Inah, and Stipulation to Repurchase
A valid bai' al-inah requires: two clear and separate contracts, a purchase and a sale; no stipulated condition in the contract to repurchase the asset; the two contracts concluded at different times; correct sequence, with the first sale completely executed before the second is concluded; and transfer of ownership with valid possession (qabd) in accordance with Shariah and commercial custom. Separately, at the 82nd meeting the SAC resolved that a stipulation to repurchase the asset renders the contract void, including where that stipulation appears in the recital of an agreement, in marketing brochures, in supplementary documents or in appendices.
What this means for you
This is Malaysia tightening its own rules from the inside. It removed the pre-arranged buy-back that made inah convenient, which is the practical reason the Malaysian industry has moved towards tawarruq. If you hold an older inah-based product, the documentation should not contain any promise by the bank to buy the asset back.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), item 9077th SAC meeting, 3 July 2008; 78th SAC meeting, 30 July 2008Malaysia
Islamic Credit Card Based on the Concept of Ujrah
An ujrah-based credit card is permissible subject to four conditions: the ujrah must be consideration for actual or non-fictitious services, benefits and privileges permissible under Shariah; charging different amounts of ujrah on different card types offering different services is permissible; charging ujrah on services not related to qard, to deferment of debt, or to exchange of cash for cash at a different value is permissible; and charging ujrah on services relating to qard, deferment of debt, or exchange of cash for cash at a different value is not permissible, although charges may be imposed to cover the actual management cost (nafaqah or taklufah).
What this means for you
The fee has to buy you something real. It cannot be a charge for having credit, for being allowed to pay later, or for taking cash out. If your bank cannot list what the fee buys, the fourth condition is the one it is likely to be failing.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), item 9378th SAC meeting, 30 July 2008Malaysia
Islamic Credit Card Based on the Concepts of Wakalah and Kafalah
Three findings. The fiqh adaptation (takyif fiqhi) of an ujrah on wakalah in the proposed card structure 'is not accurate', because the bank's role as the cardholder's agent is confined to settling payment to merchants while in reality the bank provides other services too. Determining the ujrah as a percentage of the credit limit 'is not in line with the Shariah and contradicts the decision of majority Shariah advisors at the international level'. And 'Ujrah on wakalah or others shall be a fixed amount without being tied to a credit limit in order to avoid the element of riba'. The SAC added that pricing the fee off the credit limit 'would give rise to the issue of conditional benefit on loan (qard), which is prohibited by the Shariah'.
What this means for you
This is the clearest regulator statement anywhere that a card fee which scales with your credit limit is riba by another name. It is the test to apply to any Islamic card whose monthly fee rises as your limit rises.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), items 91 and 9277th SAC meeting, 3 July 2008Malaysia
Takaful Cover for Islamic Credit Cardholders; Cash Back Rebate on Credit Card Annual Fee
Providing personal accident takaful coverage as a card privilege for which ujrah is charged 'is not in line with Shariah', because the cardholder is not a direct participant in the takaful scheme and because paying a fee for risk cover in this way amounts to exchanging cash for cash at different values. The coverage is permissible if it is offered as a gift (hibah) with no ujrah charged. Likewise, an issuer offering an ujrah-based card is not permitted to offer a cash-back rebate on the annual fee, because that would create an exchange of cash for cash at different counter values; it may be given as hibah instead.
What this means for you
Two very concrete tests. If your card charges you a fee that includes personal accident cover, ask whether the cover is being sold to you or given to you. And if a card advertises cash back on its own annual fee, ask the same question. In Malaysia the compliant answer to both is 'given, as a gift'.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), items 81 and 824th SAC meeting, 14 February 1998; 95th SAC meeting, 28 January 2010; 101st SAC meeting, 20 May 2010. Early settlement: 24th SAC meeting, 24 April 2002.Malaysia
Imposition of Ta'widh and Gharamah in Islamic Financing Facilities; Compensation on Early Settlement
A late payment charge encompassing both gharamah (fine or penalty) and ta'widh (compensation) is permissible subject to four conditions: ta'widh may be charged on late payment of obligations arising from exchange contracts such as sale and lease, and from qard; ta'widh may only be imposed after the settlement date has fallen due; the institution may recognise ta'widh as income because it compensates actual loss; and 'Gharamah shall not be recognised as income. Instead, it has to be channeled to certain charitable bodies.' Separately, an Islamic financial institution may not claim compensation from a customer who settles early.
What this means for you
In Malaysia part of your late fee is the bank's income and part must be given away, and the bank should be able to tell you the split. And you cannot be charged a penalty for clearing your card early; if you are quoted one, question it.
Shariah Resolutions in Islamic Finance, 2nd edition (2010), items on Tawarruq (deposit and financing products)Meeting numbers and dates for these specific items were not captured in this research passMalaysia
Deposit and Financing Products Based on Tawarruq
The SAC resolved that deposit products and financing products based on tawarruq, also called commodity murabahah, are permissible. Its stated basis is that tawarruq is a form of trading activity and that contemporary scholars allow it following views in the Hanafi, Hanbali and Shafi'i schools. The SAC also addressed the use of sukuk ijarah and Shariah-compliant shares as underlying assets in tawarruq, and the issuance of sukuk based on tawarruq, noting that such sale transactions should involve three or more parties.
What this means for you
Malaysia permits the tawarruq that the OIC Fiqh Academy's 2009 resolution prohibits in its bank-organised form. That is why the same card structure can be certified compliant in Kuala Lumpur and criticised as impermissible by scholars elsewhere.
Higher Shariah Authority (HSA), Central Bank of the United Arab Emirates
Article (24), Federal Decree-Law No. (6) of 2025 (current); previously Article (17), Federal Decree-Law No. (14) of 2018 (repealed)Constituted 26/7/2021 under DFL 14/2018 Art.17 (now repealed); current constituting provision is Art.24 of DFL 6/2025United Arab Emirates
Higher Shariah Authority standing and its treatment of AAOIFI Shariah Standards
The Higher Shariah Authority (HSA) is the UAE Central Bank's apex Shariah body. Confirmed on the Central Bank's own Rulebook, 2026-09-19: it was constituted by Article (17) of Federal Decree-Law No. (14) of 2018 (status now shown as Repealed; the current constituting provision is Article (24) of Federal Decree-Law No. (6) of 2025, text not separately read). Under Art.17, the HSA has 5-7 members with expertise in Islamic financial jurisprudence, sets the rules and standards for Shariah-compliant licensed activities, supervises the internal Shariah committees of Islamic financial institutions, approves the Central Bank's own Islamic monetary tools, and its fatwas are binding on those committees and institutions. A separate, currently in-force regulation (Article 9, ref CBUAE/BSD/N/2022/1452, effective 5/5/2022) requires licensed Islamic financial institutions to file an annual Shariah report with the HSA before the end of February each year, with fines up to AED 500,000 for a late filing.
What this means for you
Every Islamic card issued by a UAE-licensed bank ultimately answers to this Authority: its fatwas bind the bank's own Shariah committee, not just advise it. If a UAE bank's card practice were ever found to conflict with an HSA ruling, the bank's own committee would be the one required to correct it.
Shariat Petition No. 30-L of 1991 & all other 81 connected matters relating to Riba/Interest — M/s. Farooq Brothers Vs. UBL, etc.Announced in open court 28 April 2022, IslamabadPakistan
Judgment on riba (2022)
VERIFIED against primary text, read in full (318 pages). Bench: Mr. Justice Muhammad Noor Meskanzai (Chief Justice), Mr. Justice Dr. Syed Muhammad Anwer, Mr. Justice Khadim Hussain M. Shaikh; all three signed the judgment jointly. Paragraphs 155-157 (verbatim): 'every loan which extracts any additional amount upon the principal from the debtor is Riba... We hereby declare that the prohibition of Riba is complete and absolute in all its forms and manifestations... The Banking interest in all its forms is Riba, thus the complete and absolute prohibition of interest does not change: (a) with the change in the purpose of taking loan... (b) with any change in the percentage at which the interest is charged... (c) with any change in the method of calculating the amount of interest.' Paragraph 158: government borrowing that carries interest is also Riba, and government is directed to adopt Shariah-compliant modes going forward. Paragraph 163, the deadline (verbatim): 'we are of the view that five years period is reasonably enough time for the implementation of our decision completely... Therefore we would specify the 31st day of December, 2027 on which the decision shall take effect by way of complete elimination of Riba from Pakistan.' Paragraph 164 ties implementation to the Article 29(3) constitutional requirement for an annual progress report to Parliament.
What this means for you
Pakistan is on a legally mandated path away from interest-based banking, with a court-specified deadline of 31 December 2027 for its complete elimination -- independently reinforced two years later by a constitutional deadline of 1 January 2028 (see the Twenty-sixth Amendment entry below, the same effective date). This is why only two institutions in the country currently issue a Shariah-compliant credit card (Faysal Bank and Standard Chartered Saadiq) while conventional cards still dominate: the market is mid-transition on a fixed judicial and constitutional clock, not merely offered an alternative.
Constitution (Twenty-sixth Amendment) Act, 2024 — Act No. XXVI of 2024, section 3Assented 21 October 2024Pakistan
Constitution (Twenty-sixth Amendment) Act 2024 and the 1 January 2028 deadline for eliminating riba
VERIFIED against primary text. Section 3 of the Twenty-sixth Amendment substitutes Article 38(f) of the Constitution of Pakistan: "(f) eliminate riba completely before the first day of January, two thousand twenty-eight; and" (verbatim). This is a hard constitutional deadline, not a reported figure — the whole Pakistani financial system is bound by it.
What this means for you
This is a constitutional deadline, confirmed against the Act's own text — a stronger driver than a fatwa. It means the entire Pakistani card market converts rather than segments, on a fixed date.
Permissibility of using a conventional credit card settled within the interest-free period
Absa's Shariah Supervisory Committee publishes the permissive counter-position to IIFA Resolution 108, on the Ultimate Private Islamic Account page: 'The Visa Signature Credit Card is not Shari'ah compliant. The Shari'ah Supervisory Committee has advised that the usage of a credit card will be permissible, provided that the cardholder settles the outstanding balance on the credit card within the 57-day interest-free period.' Confirmed verbatim on Absa's own site, 2026-09-19. The committee's members and the date this position was adopted are not published anywhere found; only the position itself is public.
What this means for you
This is the position most ordinary Muslim cardholders are actually relying on, whether or not they know it has a name. It is a real, named, institutional view held by a bank's own Shariah committee, and it is directly contradicted by IIFA Resolution 108. Note that Absa itself calls the card 'not Shari'ah compliant': the ruling is about permissible USE of a conventional card, not a claim that the card is Islamic. Anyone presenting either side as the consensus is misleading you.
Current certificate dated 01/01/2026, valid one year from issue; confirmed live 2026-09-19South Africa
Shariah charge card structured on Qardh
Standard Bank South Africa's Diners Club Shariah Charge Card is certified by the bank's own Shariah Advisory Committee (Mufti Zaid Haspatel, chairman; Qari Mohamad Sauleh Peck and Mufti Yusuf Suliman, members). The 2024 certificate stated the product is 'structured on the principle of Qardh'; the current 2026 certificate, confirmed live 2026-09-19, drops that sentence but changes nothing else, and the bank's own fee schedule still shows a nil 'Islamic Financing Rate'. It is a charge card, not a revolving credit card: the balance is settled in full each cycle, so there is no financing charge to structure in the first place.
What this means for you
A qard-based charge card is the most transparent structure to check: you should repay exactly what was spent, with any fee being for a separate, identifiable service. Because it does not revolve a balance, it is not a substitute for a credit card if you need to spread a cost over time.
Certified against AAOIFI Shariah Standard No. 2United Kingdom
Score Mastercard certified against AAOIFI Shariah Standard No. 2
The UK's one qualifying card, the DND Finance Score Mastercard, is certified against AAOIFI Shariah Standard No. 2. Established by prior verified research within this project; the certificate and the certifying body were not obtained in this pass.
What this means for you
Certification against Standard No. 2 is a meaningful and checkable claim, because the standard's clauses are public and specific. Ask to see the certificate and who issued it, and then check the card against clauses 3/3, 4/1/2, 4/5/2 and 4/6/1 yourself.
A ruling is not a personal answer
These bodies rule for institutions, and they do not always agree with each other. What applies to you depends on which scholarly position you follow and on facts about your own situation. Ask a scholar you trust rather than reading a resolution as permission.