My Home Covered Card

What makes this card Islamic

Dubai Islamic Bank builds this card on a Salam contract. You sell the bank a quantity of goods to be delivered in future, the bank pays you the whole price today, and that advance payment is what you spend on the card.

DIB calls these 'Covered Cards', not credit cards. The Key Facts Statement states the Sharia Structure is Salam: 'These Covered Cards are based on the Sharia principle of Salam whereby the Customer will sell certain quantity of described commodities to the Bank to be delivered in future against advance payment of sale price by the Bank to the Customer. The Customer shall authorize the Bank to deposit the sale price of Salam (payable by the Bank to the Customer) in the Investment Wakala account of the Customer held with the Bank and the Customer can use the balance for purchase of goods or cash withdrawal.' The bank's charge is the 'Monthly Rate for Salam Delivery' of 3.69%, applied to the full covered-card limit; the customer is credited Wakala Profit at the same rate on the UNUTILISED limit, so the net monthly cost approximates 3.69% of the amount actually used. A 'Discretionary Rebate' MAY be given if the Total Due is settled by the Due Date -- the KFS wording is discretionary, not an automatic waiver.

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 Dubai Islamic Bank’s own published documents. Where the bank does not publish a number we say so rather than estimate it.

Annual fee

No annual feeKey Facts Statement pricing grid shows Nil annual fee and Nil renewal fee in the MyHome column.source

Supplementary card

AED 0Annual Fee for Supplementary Cards: Free (DIB Covered Cards KFS, p.9). Up to 5 supplementary cards.source

Profit rate

3.69% a month on the outstanding balanceDIB states this as a 'Monthly Rate for Salam Delivery' of 3.69%, charged on the covered card limit, offset by Wakala Profit at the same rate on the unutilised limit. DIB does not publish an annualised (APR-equivalent) figure on the Key Facts Statement, Schedule of Charges or product pages.source

Cash withdrawal

AED 94.50 per transaction (VAT inclusive). DIB states: 'Effective 21 August 2026, a fee of 3.15% of the transaction amount shall apply.' A separate AED 26.25 Visa/Mastercard international withdrawal fee applies at non-DIB ATMs abroad.

Late payment

AED 236.25

Foreign currency spend

3.7% on top of the exchange rate

Replacement card

AED 52.50

Takaful cover

Optional Credit Shield Takaful at 0.94% of the card outstanding per month; cover of AED 30,000 for involuntary loss of employment, AED 200,000 permanent total disability, AED 200,000 death (DIB Covered Cards KFS, p.8).

Before you apply

• Not publicly marketed -- no product page, no listing entry, no comparator entry as at 2026-08-17

Can you get it?

Other conditions

No public product page exists on dib.ae as at 2026-08-17 (https://www.dib.ae/personal/cards/my-home-covered-card returns 404) and the card is absent from both the cards listing and the cards comparator. It is named as one of the five card varieties offered by DIB in the current Key Facts Statement and appears as a priced column in the KFS pricing grid, so it is a live product -- most likely tied to DIB home finance customers rather than openly marketed.

Where these figures come from

Last checked against Dubai Islamic 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.

• “The following card varieties are offered by DIB: 1- Prime Covered Card 2- Emirates Skywards Covered Card 3- Consumer Cashback Card 4- My Home Covered Card 5- SHAMS Covered Card -- DIB Covered Cards Key Facts Statement (Aug 2025), p.1”
• “Sharia Structure: Salam | Annual Fee: Nil (MyHome column) | Renewal Fee: Nil -- DIB Covered Cards Key Facts Statement (Aug 2025), pricing grid p.9”
• “Salam Based Covered Card: These Covered Cards are based on the Sharia principle of Salam whereby the Customer will sell certain quantity of described commodities to the Bank to be delivered in future against advance payment of sale price by the Bank to the Customer. -- DIB Covered Cards Key Facts Statement (Aug 2025), p.1”
• “Sharia Structure: Salam | Monthly Rate for Salam Delivery: 3.69% -- DIB Covered Cards Key Facts Statement (Aug 2025), pricing grid p.9”
• “A. The difference between the sale price paid by the Bank to the Cardholder and the sale price DIB sells the commodities to the third party is considered as Bank's profit. The Cardholders will pay this difference on a monthly basis at the Rate mentioned in the Salam Contract B. Wakala Profit will be given to customer on the unutilized credit limit amount. C. Discretionary Rebate may be given to Cardholder if he settles his Total Due by the Due Date -- DIB Covered Cards KFS, 'Profit Calculation', p.3”
• “Example: Covered Card Limit - AED 10,000; Monthly Sale price difference (@ 3.69%) - AED 369; Retail Card Usage in a month - AED 5,000; Wakala Profit (@ 3.69%) - AED 184.50; Payment Made (Min. Due) - AED 150; Discretionary Rebate - AED 5.54; Customer effectively pays >> AED 369 - AED 184.50 - AED 5.54 = AED 178.96 -- DIB Covered Cards KFS, p.3”
• “Cardholder is liable to pay Minimum Amount Due by the Payment Due Date every month and in the event of Cardholder's failure to pay the Minimum Amount Due in any given month the Cardholder donates an amount of AED 236.25 in relation to such Due Amount which shall be routed to the designated charity through the Bank (on behalf of the Cardholder) under the supervision of its ISSC after deducting of its actual collection expenses (attributable to the subject transaction) as per the approved policy by the Bank's ISSC. -- DIB Covered Cards KFS, 'Late Payment Donation', p.3”

• Schedule of charges
• Terms and conditions