My Ras Al Khaimah Platinum Credit Card

What makes this card Islamic

RAKislamic 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.

Structured commodity Murabaha, per clause 2.1 of the RAKBANK Islamic Credit Cards Terms & Conditions booklet.

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

What it costs

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

Annual fee

No annual feeListed as 'My RAK — Free' in the Service and Price Guide effective 30-07-2026; product page says 'free for life annual fees'.source

Supplementary card

AED 0Service and Price Guide lists 'Supplementary Card Free' under the My RAK row.source

Profit rate

2.75% a month on the outstanding balanceCONFLICT BETWEEN TWO BANK SOURCES. The Islamic Consumer Credit Card Service and Price Guide effective 30-07-2026 states 'My RAK Free 2.75%'. The card's own product page still advertises 'competitive finance charges of 3.45% on retail and cash advance transaction' and a feature item reading 'Profit per month: 3.45%'. The dated fee schedule has been taken as authoritative and the product-page figure recorded as a discrepancy rather than discarded.source

Cash withdrawal

3.15% or AED 103.95, whichever is higher.

Late payment

AED 241.50

Foreign currency spend

2.57% on top of the exchange rate

Replacement card

AED 52.50

Takaful cover

Takaful Credit Shield charged at 1.04%.

What you get back

• Up to 2.5 RAKrewards per AED 1 on domestic spends
• 3.75 RAKrewards per AED 1 on international spends
• 50 RAKrewards on fuel spends
• 7.5 RAKrewards on cinema spends
• Quarterly draw: spend over AED 10,000 in a quarter for a chance to win 500,000 RAKrewards, 25 winners each quarter (across the conventional and Islamic variants combined)

Other benefits

• Cash advance of up to 80% of the credit limit
• Up to 55 days profit-free credit
• Up to 10% cashback on Booking.com via the Mastercard MEA registration page

Before you apply

• The product page's advertised 3.45% monthly profit rate contradicts the bank's own current schedule of charges, which states 2.75%. Confirm the applicable rate in writing before applying.
• The quarterly 500,000-RAKrewards draw has only 25 winners a quarter across both the Islamic and conventional variants.

Can you get it?

Minimum income

AED 8,000 a monthsource

Other conditions

Product page states minimum monthly salary/income AED 8,000. Salary-transfer requirement not stated on the pages read.

What to have ready

• Emirates ID
• Passport with valid residency visa
• Proof of income: salary certificate, bank statements, payslips or labour contract

Where these figures come from

Last checked against RAKislamic’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.

• “My RAK Free 2.75% / Supplementary Card Free — Islamic Consumer Credit Card Service and Price Guide, effective 30-07-2026”
• “Plus free for life annual fees! • Enjoy competitive finance charges of 3.45% on retail and cash advance transaction • Up to 55 days Profit free credit • Cash Advance of up to 80% of your Credit Limit • Lowest minimum monthly payment of just 3% — product page”
• “Profit per month: 3.45% — product page feature item”
• “Minimum monthly salary / income AED 8,000 — product page feature item”
• “Earn up to 2.5 RAKRewards per AED1 on domestic spends, 3.75 RAKRewards on international spends, 50 RAKRewards on fuel spends, and 7.5 RAKRewards on cinema spends — product page”
• “RAKRewards are capped at 333,334 overall. Maximum rewards are capped separately at 166,667 each for both domestic and international transactions. Higher rewards from fuel spends are capped at 14,000 and higher rewards from cinema spends are capped at 10,000, subject to a minimum card spend of AED 5,000. A minimum of 10K RAKRewards is required for redemption. RAKRewards are valid for 36 months. — product page”

• Product page
• Schedule of charges
• Terms and conditions