Aafaq Platinum Credit Card

What makes this card Islamic

aafaq Islamic Finance 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.

aafaq calls these 'Covered Cards'. Key Facts Statement, Shariah Structure section: "Our credit cards operate under a Shariah-compliant Murabaha structure. Murabaha constitutes a sales contract, after you possess and purchase the commodity, you have a choice to hold the commodity or to select redeeming them to generate liquidity. As per Wakala (agency certificate from you to aafaq) Aafaq Islamic Finance will calculate the profit (the net between the Murabaha and Wakala profits) on a daily basis until the full Wakala outstanding (card available balance) is covered." So the same Murabaha-plus-Wakala 'covered card' model as Sharjah Islamic Bank: the monthly profit rate is stated as applying to the UNPAID bill, and an AED 5 'Agency Fee (Murabaha Transaction)' is charged.

Approved by Internal Shari'ah Supervision Committee (ISSC), under the supervision of Central Bank of the UAE.

What it costs

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

Annual fee

No annual feeFree — 'No Annual Fee' / 'Free for life'.source

Supplementary card

AED 100First 3 supplementary cards free; AED 100 from the 4th card onwards.source

Profit rate

3.99% a month on the outstanding balance47.88% a year as stated by the banksource

Cash withdrawal

AED 150 per transaction. Cash withdrawal limit is 90% of the card limit.

Late payment

AED 230Charged when the minimum amount due is not paid by the payment due date. Routed to a designated charity through aafaq on the cardholder's behalf under ISSC supervision, after deducting aafaq's actual collection expenses. Excludes 5% VAT.

Over limit

AED 260

Foreign currency spend

2.5% on top of the exchange rate

Replacement card

AED 75

Takaful cover

Credit Shield, optional, 1.04% per month of the current statement outstanding balance (VAT inclusive). Covers loss of life from any cause and permanent total disability.

What you get back

• AED 250 welcome / joining bonus
• 2% AIF Rewards on international spends
• Up to 1% AIF Rewards on all other retail spends
• 10% cashback on school fee payments, up to AED 5,000, on a minimum AED 5,000 of eligible school fee spend (opt in by SMS 'AEDU' to 4070)
• AIF Rewards points redeemable for flights (300+ options), hotels (300,000+ options), shopping, miles, gift cards or cashback via Aafaq Digital Banking

Other benefits

• Free for life, no annual membership fee
• 0% balance transfer for 12 months
• VOX Cinemas buy 1 get 1 free — up to 4 free tickets a month
• Complimentary airport transfer: one pick-up or drop-off to/from Dubai or Abu Dhabi airports within city limits, on reaching AED 5,000 monthly spend (AED 1 non-refundable booking charge)
• Complimentary Marhaba Meet & Greet at DXB and DWC on AED 5,000 monthly spend
• Valet parking — up to 2 complimentary services a month on AED 5,000 retail spend
• Complimentary airport lounge access through Mastercard travel benefits
• Mastercard Priceless offers
• Finance on Phone instant cash

Before you apply

• 3.99% a month is 47.88% a year and aafaq states that APR itself in its Key Facts Statement — the highest headline profit rate found across the five institutions in this research set.
• The 2.5% non-AED transaction fee EXCLUDES scheme fees; the Key Facts Statement says Mastercard charges approximately a further 1.15% of every card transaction, so the real foreign-currency cost is around 3.65%.
• There is an over-limit fee of AED 260 — several UAE Islamic issuers have none.
• A security cheque from a UAE bank account may be required on card issuance and can be presented if payments fall overdue.
• All fees are quoted exclusive of 5% VAT.
• aafaq Islamic Finance is a finance company (P.S.C.), not a bank — it is licensed and regulated by the Central Bank of the UAE but does not take retail deposits in the way a bank does.
• Almost every lifestyle benefit (airport transfer, Meet & Greet, valet) is gated on AED 5,000 of retail spend in the calendar month — miss the threshold and the benefit is not available that month.
• The airport transfer must be booked at least 2 working days in advance by email and carries a non-refundable AED 1 charge.
• aafaq's own pages describe the lounge access only as 'through Mastercard travel benefits' with no stated number of visits, so the actual entitlement is unclear.

Can you get it?

Minimum income

AED 8,000 a monthsource

Age

21 to 65

Other conditions

Key Facts Statement: 'Aafaq Platinum credit card monthly income range: AED 8,000 and AED 19,999.' Age 21-65. Self-employed: average minimum turnover AED 50,000 per month and minimum 2 years in business.

What to have ready

• Application via Aafaq Digital App or branch
• Emirates ID
• Proof of income
• Trade licence and 2 years' business history for self-employed

Where these figures come from

Last checked against aafaq Islamic Finance’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.

• “Monthly Profit Rate 3.99% (Aafaq Titanium Card / Aafaq Platinum Card / World Elite Card) — Key Facts Statement (KFS) Covered Cards, Types of Covered Cards & Charges”
• “Annual Percentage Rate (APR) — Having no new transaction and with AED 2,000 credit balance with a 47.88% annual rate, with a minimum payment of 5% of the balance, or AED 100, whichever is greater, would take 40 months or approximately 3.5 years to pay off — aafaq Key Facts Statement”
• “Monthly fixed profit Rate 3.99% of the unpaid credit card bill — aafaq Key Facts Statement, Murabaha & Annual Percentage Rate (APR) Calculation”
• “Late Payment Fee2 230 / 230 / 230 — Note 2: Late Payment fee charged, will be donated to charity as per Internal Shari'ah Supervisory Committee (ISSC). — aafaq Key Facts Statement”
• “Late Payment Donation: … the cardholder card account will be charged an amount of AED 230 in relation to such due amount which shall be routed to the designated charity through Aafaq (on behalf of the cardholder) under the supervision of its ISSC after deducting of its actual collection expenses — aafaq Key Facts Statement, You Must Know”
• “Over Limit Fees 260 / 260 / 260 — aafaq Key Facts Statement”
• “Non-AED transaction Fee4 2.5% — 4This charge excludes scheme fees. Scheme fees refers approx. 1.15% of every card transaction charged by Mastercard. — aafaq Key Facts Statement”
• “Cash withdrawal limit 90% — Cash Withdrawal Fees (per Transaction) 150 — aafaq Key Facts Statement”
• “Payment Due Date (from the statement date) 24 Days — Maximum payment period 54 Days — Minimum Monthly Payment (of monthly balance) 5% (min. AED 100) — aafaq Key Facts Statement, Other Details”
• “Credit Shield 1.04% — On statement outstanding balance — aafaq Key Facts Statement”
• “Agency Fee (Murabaha Transaction) 5 — aafaq Key Facts Statement”
• “*5% VAT applicable on all fees and charges. — aafaq Key Facts Statement, Note”
• “Age: 21 years – 65 years. — aafaq Key Facts Statement, Eligibility”
• “1. If you fail to pay any amount, aafaq will keep calculating the profit (the net between the Murabaha and Wakala profits) until the total outstanding has been fully settled. — aafaq Key Facts Statement”
• “Aafaq Platinum credit card monthly income range: AED 8,000 and AED 19,999. — aafaq Key Facts Statement, Eligibility”
• “Annual Fees — Aafaq Platinum Card: Free — aafaq Key Facts Statement, Types of Covered Cards & Charges”
• “AED 8,000 Minimum Salary / AED 250 Welcome Bonus / 0 No Annual Fee — Aafaq Platinum Credit Card product page”
• “Exclusive Aafaq Islamic Finance (AIF) Rewards Program — 2% Rewards on International Spends — Up to 1% Rewards on all other retail spends — Redeem your points for flights, hotels, shopping, miles, or cash back through Aafaq Digital Banking. — Aafaq Platinum Credit Card product page”
• “Premium Lifestyle Benefits — VOX Cinema Buy One Get One - 4 free tickets per month — Valet Parking – 2 complementary services per month — Aafaq Platinum Credit Card product page”
• “One complimentary pick-up or drop-off to/from Dubai or Abu Dhabi airports within city limits. Available upon reaching a monthly spend of AED 5,000. — Aafaq Platinum Credit Card product page, Complimentary Airport Transfer”
• “Valet Parking — Platinum Credit Card: Up to 2 times, Minimum Monthly Spend AED 5,000 retail spend (POS & online) — aafaq Valet Parking benefit table”
• “Pay your child's school fees with your Aafaq Credit Card and earn 10% back this term. Spend a minimum of AED 5,000 on eligible school fee payments — aafaq 'Get Up to AED 5,000 Cash Back on School Fees'”

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