AlFursan Visa Signature Credit Card

What makes this card Islamic

Riyad 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.

Riyad Bank's own Islamic card terms set out the contract in their Arabic version. If you do not clear your balance in full by the due date, commodities are bought on murabaha and sold for cash to settle what you owe, at a profit margin for one month. Buying on murabaha in order to sell for cash is a tawarruq. The bank calls it murabaha, and the English version of the same terms leaves this sentence out. The arrangement rests on the bank's Shariah Committee resolution for its Islamic credit card, signed 16 July 2007.

Approved by Riyad Bank Shari'a Committee (independent), under the supervision of Saudi Central Bank (SAMA).

What it costs

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

Annual fee

SAR 1,000SAR 1,000 per year, VAT not included.source

Supplementary card

SAR 0Supplementary credit card fees: Free.source

Profit rate

2.35% a month on the outstanding balanceBank states a "Monthly profit margin" of 2.35% and an "Annual Profit Rate" of 35.73% on the product page fee table. FIELD-SEMANTICS NOTE: Riyad Bank labels this figure 'Annual Profit Rate', but it does not reconcile with the monthly rate printed beside it (the monthly rate x 12 is materially lower), which is the signature of an all-in annualised cost absorbing the annual fee. It is therefore recorded in apr_pct and NOT in profit_rate_annual_pct, so it can never be displayed as the profit charged on a balance. The bank's own label is preserved here rather than corrected. Riyad Bank publishes no separate annual profit margin, so profit_rate_annual_pct is null rather than derived.source

APR, as the bank publishes it

35.73%An APR absorbs the annual fee and other charges as well as the profit rate, so it is higher than the profit rate above. It is the closest thing to a like-for-like cost comparison.source

Cash withdrawal

3% for transactions below SAR 2,500, with a maximum of SAR 75 for transactions equal to or above SAR 2,500.

Late payment

SAR 50

Foreign currency spend

2% on top of the exchange rate

Replacement card

SAR 15

Takaful cover

Credit Shield (optional): 0.49% of the total outstanding balance, added to the card account every month.

What you get back

• 25,000 Miles upon activation
• 15,000 extra Miles upon spending SAR 40,000
• 1 Mile for every SAR 3 spent on local transactions and EEA countries
• 1 Mile for every SAR 2.5 spent on international transactions
• 1 Mile for every SAR 12.5 spent at specified merchant categories
• 100% additional AlFursan Tier Credits after the first transaction is reflected in the AlFursan account

Other benefits

• 12 complimentary visits to over 1,300 airport lounges via Visa Airport Companion
• Complimentary valet parking every month at 100+ locations in the Kingdom
• 24/7 concierge service
• Multi-Trip Travel Insurance up to USD 500,000
• Complimentary muvi Cinema Buy-One-Get-One-Free tickets every month
• Complimentary airport transfers in the Kingdom every month

Before you apply

• All published Riyad Bank card fees exclude VAT; 15% VAT is added on top.
• Minimum monthly payment is 5% of the due amount or SAR 100, whichever is higher.
• Card reactivation (Islamic card only) SAR 100.
• The 35.73% "Annual Profit Rate" does not reconcile with the 2.35% monthly rate by simple x12 (28.20%). Compound annualisation ((1+monthly)^12-1 = 32.15%) narrows but does not close the gap; this AlFursan co-brand card is not covered by Riyad Bank's general Islamic card T&C disclosure table used to confirm the same pattern on other Riyad cards, so the residual is not independently proven, only plausible (annual-fee inclusion). Not treated as a data error. See research/raw/SA-notes-riyad-bsf-anb-sab.md S03 addendum.

Can you get it?

Age

18 and over

Other conditions

Should be 18 years of age or older; should be compliant with Riyad Bank's and SIMAH's policies for issuance of credit cards. No minimum salary is published. The online application form asks for monthly salary and current monthly obligations and returns a calculated credit limit, so eligibility is assessed case by case.

What to have ready

• Copy of valid Saudi national ID for Saudi nationals
• Copy of valid resident Identity card or Passport for non-Saudi nationals
• Salary certificate mentioning employment start date for salaried individuals

Where these figures come from

Last checked against Riyad 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.

• “Annual fees for credit card S..R 1000 - Fees (VAT is not included), AlFursanVisa Signature Credit Card product page”
• “Monthly profit margin 2.35 % - AlFursanVisa Signature Credit Card product page”
• “Annual Profit Rate 35.73% - AlFursanVisa Signature Credit Card product page”
• “Minimum monthly payments 5% of the due amount, or S..R 100. Whichever is higher”
• “Late payment S..R 50”
• “Replacements card fees S..R 15 (based on bank estimation)”
• “Additional fee on international transactions 2.00%”
• “وفي حال عدم دفع العميل للرصيد المدين المستحق عليه كاملا خلال المدة المذكورة فسوف يقوم وكيله بإبلاغه بإجراء عملية شراء سلع بالمرابحة بغرض بيعها للحصول على السيولة النقدية اللازمة لسداد مستحقات البطاقة بهامش ربح لأجل مدته شهر واحد ويتم إجراء ذلك وفق قرار اللجنة الشرعية الخاصة ببطاقة الائتمان الإسلامية الموقع بتاريخ 16.7.2007 م. - Riyad Bank Islamic AlFursan credit card terms and conditions (Arabic), clause (h) Due Date”

• Product page