Union Coop Tamayaz Card

What makes this card Islamic

Emirates Islamic 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.

Bank states: 'All our Credit Cards are based on a Shariah compliant structure of Murabaha. Murabaha is a form of contract of sale whereby the Bank sells Wakala Certificates which are being purchased and in the possession of the Bank against a price which is equal to cost of acquisition and a defined profit.' The Shariah Certificate for the 'Covered Card (Based on Murabaha)' details the mechanism: the Bank buys EIFL Certificates (USD 10 each, a common share in a pool of Shariah-compliant assets - sukuk, shares, private equity and ijarah assets), sells them to the customer on Murabaha via an emailed Murabaha Offer Letter (no objection within a set period = implied consent), and the customer may sell them on Nasdaq Dubai; the cash proceeds credited to an account with the Bank represent the unutilised card limit. This is an organised-Murabaha (tawarruq-like) structure, NOT the fixed-monthly-ujrah model used by most UAE Islamic card issuers. Profit is charged monthly on unpaid balances and is not charged at all if the statement balance is settled in full by the due date, at the Bank's discretion.

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

What it costs

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

Annual fee

No annual feeNo Annual Membership Fee — still carried as a live row in the current Schedule of Charges despite the card appearing on the discontinued Legacy Credit Cards page.source

Supplementary card

AED 0Free – up to 4 supplementary cards.source

Profit rate

3.69% a month on the outstanding balance44.28% a year as stated by the banksource

Cash withdrawal

3.15% of the cash advance amount or AED 103.95, whichever is higher, per transaction. Maximum cash advance per transaction AED 10,000 or 50% of the card limit, whichever is lower.

Late payment

AED 131.25

Over limit

AED 261.45

Foreign currency spend

2.54% on top of the exchange rate

Replacement card

AED 78.75

Takaful cover

Optional Credit Shield takaful at 1.04% of the outstanding amount per month. Complimentary multi-trip travel takaful (trips up to 90 days) is bundled on several cards.

What you get back

• At Union Coop stores: 3 Tamayaz Points per AED 1 (2 from Emirates Islamic + 1 from Union Coop)
• International spend: 2 Tamayaz Points per AED 1
• Domestic spend: 1 Tamayaz Point per AED 1
• Government Services (effective 15 March 2018): 0.6 Tamayaz Points per AED 1
• Redemption at Union Coop: shareholders 3,000 points = AED 50 (5% cashback); non-shareholders 4,000 points = AED 50 (3.75% cashback)

Other benefits

• Up to 4 free supplementary credit cards
• Extended Warranty — doubles the manufacturer warranty by up to 12 months; cover USD 2,500 per occurrence and USD 5,000 per year
• Buyers Protection — USD 5,000 per occurrence and USD 20,000 per year against loss or damage
• Visa Luxury Hotel Collection at over 900 properties

Before you apply

• STATUS CONFLICT: the card sits on the bank's discontinued Legacy Credit Cards page, yet 'Union Coop Tamayaz' is still a live row in the current Schedule of Charges at 3.69% a month with no annual membership fee. The most defensible reading is closed to new applicants but still serviced for existing holders.
• Transferring points from Emirates Islamic to Union Coop resets their expiry from 2 years to the end of the current calendar year, destroying value.
• Emirates Islamic-awarded points must be moved to the Tamayaz account by phoning 600 599995 — they do not transfer automatically.
• Listed on Emirates Islamic's own Legacy Credit Cards page, which opens: 'The cards mentioned below were previously available to customers but have now been discontinued.'
• Profit is waived on a fully-settled statement balance only 'at the sole discretion' of the Bank (KFS wording) - it is not an unconditional contractual waiver.
• The late charge is a 'Commitment to Donate Amount' of AED 131.25 per month, charged whenever the Minimum Payment Due is not received by the due date; the Bank pays it to a charity approved by its Internal Shariah Supervision Committee after deducting actual expenses. It is a purification charge rather than bank income, but it is still a real AED 131.25 monthly cost to the cardholder.
• The bank's own two primary documents conflict on the FX fee: the Schedule of Charges states 2.54% (2.34% Amazon, 2.30% Emarati/Skywards Black) while the Key Fact Statement (CCB/CCD/0526/V7.5) states 2.34% for all other cards and 1.84% for Emarati/Skywards Black.
• A Visa/Mastercard network processing fee of approximately 1.15% applies ON TOP of the bank's FX fee. A separate 1.99% fee applies to transactions settled in AED at an overseas point of sale (dynamic currency conversion).
• Over-limit fee AED 261.45 per month; Direct Debit return fee AED 105; maximum cash advance AED 10,000 or 50% of the card limit per transaction.
• Optional Credit Shield takaful is charged at 1.04% of the OUTSTANDING amount every month, not a flat fee.

Can you get it?

Age

21 and over

Other conditions

Minimum age 21 ('you must be at least 21 years old'). Employed applicants must meet the card's minimum income requirement; self-employed applicants qualify on computed income. Applicants who are unemployed or below the income threshold may still obtain a card against a Fixed Deposit Account holding the minimum deposit for that card. Salary transfer to Emirates Islamic is NOT stated as a requirement on any published eligibility page. Cards are issued to non-account-holders. 5 business day cooling-off period applies. Listed on Emirates Islamic's own Legacy Credit Cards page, which opens: 'The cards mentioned below were previously available to customers but have now been discontinued.'

What to have ready

• Original Emirates ID or passport
• Latest salary certificate (for employed customers)
• Trade license (for self-employed customers)
• Bank statement for the last three months
• Security cheque (if applicable)

Where these figures come from

Last checked against Emirates Islamic’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.

• “Union Coop Tamayaz | 3.69% | No Annual Membership Fee — Schedule of Charges, Profit based Cards”
• “Tamayaz Points Earning - UCS Credit Card — At Union Coop Stores: Spend in AED 1, Tamayaz Points 3* | International Spend: 1, 2 | Domestic Spend: 1, 1 — Legacy Credit Cards page”
• “Effective March,15 2018, retail domestic spends made under category “Government Services” will earn 0.6 Tamayaz Points . — Legacy Credit Cards page”
• “Shareholder* 3,000 [points] 50 [AED] 5 [% cashback] | Non Shareholder 4,000 50 3.75 — Legacy Credit Cards page, Tamayaz Points Redemption”
• “Once Tamayaz Points are transferred from Emirates Islamic to Union Coop, it will get expired by the end of a calendar year — Legacy Credit Cards page”
• “Listed on Emirates Islamic's own Legacy Credit Cards page, which opens: 'The cards mentioned below were previously available to customers but have now been discontinued.'”

• Product page
• Schedule of charges