LIFE Cashback Credit Card (World)

What makes this card Islamic

Ajman Bank 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.

Ajman Bank's Key Facts Statement: "'ULTRACASH' Credit Card is structured as per the Islamic principles of Murabaha. Murabaha refers to a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin." The bank's tariff groups ULTRACASH and the BRight range under the heading 'Islamic Covered Cards' at a Murabaha profit rate of 3.50% per month. Profit is charged only when the total outstanding is not paid in full by the payment due date.

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

What it costs

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

Annual fee

AED 600Waived if retail spend of AED 5,000 is made within 60 days from the card issuance date.source

Supplementary card

AED 50First 2 supplementary cards free, then AED 50 per annum per card (Key Facts Statement).source

Profit rate

45.6% a yearKey Facts Statement: 'LIFE Credit Card is structured as per the Islamic principles of Murabaha.' The Key Facts Statement gives an annual profit rate of 45.6% per annum for the LIFE card — higher than the 42% quoted for BRight and Ultracash. Ajman Bank's published Tariff of Charges does not list the LIFE card in its Islamic Covered Cards table, so no bank-stated MONTHLY rate was found and the monthly field is left null rather than derived.source

Cash withdrawal

AED 150 per transaction, applicable up to AED 5,000 per transaction.

Late payment

AED 125Called 'Commitment to Donation'. Excludes 5% VAT.

Foreign currency spend

3.5% on top of the exchange rate

Replacement card

AED 75

Takaful cover

Credit Shield (takaful) at 0.99% per month, charged as a fixed rate on the total outstanding balance as at the statement date. Free for the first two months, chargeable thereafter; opt-out by phone.

What you get back

• 50% cashback on refreshments / snacks — capped AED 100 a month
• 10% cashback on online merchants noon, Careem and Amazon — capped AED 100 a month
• 7% cashback on dine-in at restaurants — capped AED 100 a month
• 5% cashback on international spend — capped AED 100 a month
• 1% cashback on all other retail spend
• Welcome bonus of AED 1,000 for spending AED 10,000 within 60 days from the card issuance date

Other benefits

• Unlimited complimentary access to over 25 regional and international Lounge Key and Marhaba lounges across the UAE, Saudi Arabia, Jordan, Kuwait, Egypt, Morocco, USA, UK, Canada, Germany, France and Singapore
• Airport transfer within the UAE
• Meet & greet usher service at the airport
• Tee-time golf round
• Complimentary valet parking at more than 30 locations
• Balance transfer at 0% profit rate for 3 or 6 months
• Mastercard partner offers: up to 30% off Cleartrip, up to 10% back on Booking.com, 15% off IHG Hotels, 10% off Rentalcars.com, 20% off Avis

Before you apply

• No cashback at all unless you spend at least AED 5,000 within the statement cycle.
• Each category is capped at AED 100 a month, so the 50% refreshments rate is exhausted by AED 200 of snack spend.
• The LIFE card carries a 45.6% annual profit rate, higher than Ajman's own BRight and ULTRACASH cards at 42%.
• The AED 600 fee waiver is a one-off first-60-day condition, not an annual one on the evidence found.
• Fees are quoted exclusive of 5% VAT.

Can you get it?

Minimum income

AED 10,000 a monthsource

Other conditions

Product page: 'Customers must have a minimum salary of AED 10,000.'

What to have ready

• Key Fact Statement
• Credit Card Application Form
• Passport and Emirates ID
• Visa copy where applicable
• Salary certificate or one month payslip
• Trade licence for eligible self-employed individuals

Where these figures come from

Last checked against Ajman 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.

• “LIFE Credit Card is structured as per the Islamic principles of Murabaha. — Ajman Bank Key Facts Statement (Credit Card), May 2025”
• “Murabaha profit (Annual Profit Rate for LIFE card) 45.6% per annum — Ajman Bank Key Facts Statement”
• “Customers must have a minimum salary of AED 10,000 — LIFE Credit Card product page, Eligibility Criteria”
• “the Customer commit to donate on demand by the Bank in addition to such sum or part thereof an additional amount (the Commitment to Donation Amount) AED 125.00/- … the remaining amount to be donated, on behalf of the Customer, to a charity or charities, under the supervision of the Internal Shariah Supervision Committee (the ISSC). — Ajman Bank Key Facts Statement (Credit Card)”
• “IMPORTANT: Applicable when you do not pay the Total Outstanding Due in full on or before the Payment Due Date — Ajman Bank Key Facts Statement (Credit Card), Murabaha profit row”
• “All Fees mentioned above and on www.ajmanbank.ae are exclusive of Value Added Tax (VAT). A VAT of 5% shall be applicable on all Fees levied by the Bank — Ajman Bank Key Facts Statement, Disclaimers”
• “LIFE world card - Annual Membership fee of AED 600 waived if retail spend of AED 5000 within 60 days from the card issuance date. — LIFE Credit Card product page, Card Benefits”
• “LIFE World — WELCOME Bonus AED 1000* — Spend Criteria: Spend AED 10000 within 60 days from the card issuance date. — LIFE Credit Card product page”
• “Dine-in at restaurants — LIFE World 7% — monthly cap AED 100 — LIFE Cashback Card Features and Benefits table”
• “International Spend only on LIFE World 5% — LIFE World monthly cap AED 100 — LIFE Cashback Card Features and Benefits table”
• “Refreshment / Snacks 50% — LIFE World monthly cap AED 100 — LIFE Cashback Card Features and Benefits table”
• “Maximum Cash Back — LIFE World AED 400 + other Retail Spend — LIFE Cashback Card Features and Benefits table”
• “Minimum Spend Criteria to Qualify for Cashback — AED 5,000 within the statement cycle period for all authorized transactions (LIFE World) — LIFE Cashback Card Features and Benefits table”
• “LIFE World 3.5% — Ajman Bank Key Facts Statement, Processing Fee of Foreign Currency Transactions”
• “Unlimited complimentary access to over 25 regional and international Lounge Key and Marhaba lounges — LIFE Credit Card product page, Travel Benefits”

• Product page
• Schedule of charges