RAKislamic 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, as set out in clause 2.1 of the RAKBANK Islamic Credit Cards Terms & Conditions booklet. Late payment is a 'Donation Amount' from which the bank retains only its actual direct loss, the remainder going to charity approved by the Internal Shari'ah Supervision Committee.

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 feeMarketed as 'No Annual Fee Ever.' and listed as Free in the Service and Price Guide effective 30-07-2026.source

Profit rate

3.45% a month on the outstanding balanceMonthly rate on retail purchases and cash advances. No annualised equivalent published.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%. Product page also cites free purchase protection and free travel accident Takaful.

What you get back

• Earn up to 3.75 RAKrewards per AED 1 on both international and domestic spends
• Cash advance of up to 80% of the credit limit
• Up to 55 days to pay with a minimum monthly payment of 3%

Other benefits

• Free supplementary cards
• Free purchase protection
• Free travel accident Takaful
• Up to 7% Booking.com wallet credit and 10% cashback on hotel bookings via the Mastercard Booking.com landing page

Before you apply

• RAKrewards expire after 36 months and cannot be redeemed below a 10,000-point balance.
• The Service and Price Guide's minimum amount due is 4% or AED 100 whichever is higher, while the product page advertises a 3% minimum monthly payment.

Can you get it?

Minimum income

AED 5,000 a monthsource

Other conditions

Product page states minimum monthly salary/income AED 5,000 — the lowest entry point in RAKislamic's published range. 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.

• “Platinum Free 3.45% — Islamic Consumer Credit Card Service and Price Guide, effective 30-07-2026”
• “No Annual Fee Ever. — product page”
• “Minimum monthly salary / income AED 5,000 — product page feature item”
• “Profit per month: 3.45% — product page feature item”
• “Earn up to 3.75 RAKrewards for every AED1 you spend — product page feature item”
• “RAKRewards are capped at 250,000 overall. Maximum rewards are capped separately at 125,000 each for both domestic and international transactions. A minimum of 10K RAKRewards is required for redemption. RAKRewards are valid for 36 months. — product page”
• “With your RAKislamic Platinum Credit Card, you'll get: • FREE supplementary cards • FREE purchase protection • FREE travel accident Takaful Plus up to 55 days to make your payments with the lowest minimum monthly payment of just 3%. — product page”
• “The RAKislamic Platinum Credit Card allows you a cash advance of up to 80% of your credit limit for the convenience of you and your family. — product page”

• Product page
• Schedule of charges
• Terms and conditions