Titanium Islamic 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 290Annual Membership Fee SAR 290, VAT not included.source

Supplementary card

SAR 0Annual Membership Fee (Supplementary Credit Card): Free.source

Profit rate

2.55% a month on the outstanding balanceBank states "Monthly Term Cost 2.55%" and "Annual Profit Rate 36.45%" in the product page fee table. Fees effective from 19/07/2025. 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

36.45%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

• 20 complimentary Hassad points upon activating the credit card
• 400 bonus Hassad points when spending SAR 5,000 within the first three months
• Automatic enrolment into the Hassad Rewards Program

Other benefits

• Free access to airport VIP lounges in Cairo, Abu Dhabi, Dubai, Jeddah, Kuwait and Amman
• Unlimited complimentary access to over 25 regional and international lounges for the cardholder (USD 32 per visit per additional person)
• Free additional credit cards for family members
• 3D Secure and contactless payments below SAR 300
• Qasset installment programme

Before you apply

• All published Riyad Bank card fees exclude VAT; 15% VAT is added on top.
• Wrong Dispute Transaction is published as SAR 15 on this card, against SAR 25 on every other Riyad Bank card page reviewed. Recorded as published.
• Card reactivation fee (Islamic only) SAR 100.
• Card name is misspelt "Ttanium" in one place on the bank's own page.
• The 36.45% "Annual Profit Rate" is a compound annualisation of the 2.55% monthly rate ((1+monthly)^12-1 = 35.28%), confirmed against Riyad Bank's own general Islamic card T&C Initial Disclosure table, which publishes the identical 2.55%/35.28% pair for this card group. Not an arithmetic error; the ~1.2pp residual most likely reflects the T&C PDF predating the 19/07/2025 product-page fee update. 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 Membership Fee S..R 290 - Titanium Islamic Credit Card, Fees and charges”
• “Monthly Term Cost 2.55%”
• “Annual Profit Rate 36.45%”
• “Late Payment S..R 50”
• “Wrong Dispute Transaction S..R 15”
• “Shari'a compliant card”
• “Replacement Card S..R 15”
• “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 credit card terms and conditions (Arabic), clause (h) Due Date”

• Product page