Emirates Islamic credit cards

Who Emirates Islamic are

A fully Islamic bank — every product it offers is Shariah-compliant.

Islamic banking arm of Emirates NBD Group; markets its credit cards as 'Covered Cards'. Every consumer card is structured as a Murabaha of investment certificates (EIFL Certificates at USD 10 each, representing a common share in a pool of sukuk, shares, private equity and ijarah assets), NOT the fixed-monthly-ujrah model common elsewhere in the UAE. Consequently the pricing reads like a conventional monthly profit rate: 3.25% a month (39% APR) on Skywards Black, 3.59% (43.08% APR) on Emarati and 3.69% (44.28% APR) on everything else, with billed profit not charged at all when the statement balance is settled in full by the due date — though the KFS makes that waiver discretionary. There is no late-payment fee; instead a 'Commitment to Donate Amount' of AED 131.25 a month is charged when the minimum payment is missed and paid to a charity approved by the ISSC. 17 live consumer variants span cashback (Switch, Cashback, Cashback Plus, Barça, RTA), miles (Skywards x3, Etihad Guest x4, Flex x2, Emarati) and co-brand (Amazon World and Amazon Platinum), plus discontinued legacy products (Expo, the Choice Points Rewards and RTA cards, Union Coop Tamayaz) and two fee-based Skywards variants (Skywards Platinum and Skywards Gold) that are still priced and still rate-carded but have no product page and no stated availability, recorded here with status 'unknown'. Two pricing structures coexist in the Schedule of Charges: 'Profit based Cards' (monthly profit rate) for the current range, and a legacy 'Fee based Cards' table charging a monthly fee scaled to the credit limit (AED 225-AED 4,500 a month) on older Skywards, RTA and Rewards / Abu Dhabi Rewards cards — the latter being the ujrah-style pricing the bank has moved away from. Corporate cards, out of scope here, price at 1.99% a month (23.88% APR) with a 100% minimum monthly payment.