Watani 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. The bank makes the credit limit available by selling the cardholder a share in a quantity of commodities on deferred payment; profit is the Murabaha profit, not interest. Late payment is handled as a 'Donation Amount' the cardholder commits to pay, from which the bank retains only its actual direct loss and pays the remainder to charity.

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 feeCustomers who apply for the Watani Credit Card from 2023 until 31 December 2026 are eligible for a lifetime annual fee waiver (terms apply).source

Supplementary card

AED 313.95First supplementary card free; 2nd supplementary onwards (up to 9 cards) AED 313.95.source

Profit rate

2.75% a month on the outstanding balanceBank states a monthly rate applying to both retail purchases and cash advances. It publishes no annualised equivalent for this card. Note 1 of the guide states 'Profit shall be applicable on the Murabaha transaction.' No profit on retail balances if the statement outstanding is paid in full by the due date.source

Cash withdrawal

3.15% or AED 103.95, whichever is higher. Also applies to purchases of cash-equivalents including foreign currency, travellers cheques, money orders and crypto investments.

Late payment

AED 156.45

Foreign currency spend

1.15% on top of the exchange rate

Replacement card

AED 52.50

Takaful cover

Takaful Credit Shield charged at 1.04% (per the Islamic Consumer Credit Card Service and Price Guide).

What you get back

• 100% cashback on Salik and DARB, requires AED 10,000 monthly spend, capped at AED 200 per month, credited on the 7th of the following month
• Welcome bonus of 50,000 RAKrewards on minimum AED 10,000 spend
• 5 RAKrewards per AED on international transactions
• 3 RAKrewards per AED on domestic transactions
• 0.6 RAKrewards per AED on insurance and supermarkets
• 0.5 RAKrewards per AED on spends in European Economic Area countries
• 0.4 RAKrewards per AED on government, bill payment, transit, schools, real estate, fuel and vehicles

Other benefits

• Complimentary access to 1,200+ airport lounges via Mastercard Travel Pass
• Complimentary airport transfers and 20% off three Careem rides per month; 25% off two Hala Taxi rides per month
• 10% discount on international round-trip airfare on Cleartrip with promo code MCWORLD
• 15% off IHG Hotels & Resorts rooms
• Global Blue Tax Refund City VIP Lounge and Airport VIP Fast Lane access
• Balance transfer at 1.5% p.a. profit rate with no processing fee, up to 90% of credit limit

Before you apply

• Salik/DARB cashback requires AED 10,000 of monthly spend before any cashback is paid, and is then capped at AED 200 a month.
• Reward earn drops to 0.4 RAKrewards per AED on government, bill payments, transit, schools, real estate, fuel and vehicles.
• The AED 156.45 late-payment charge is styled a 'Donation Amount': the bank retains its actual direct loss and pays the remainder to charity.

Can you get it?

Minimum income

AED 15,000 a monthsource

Other conditions

Product page states minimum monthly salary/income AED 15,000. 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.

• “Islamic Consumer Credit Card Service and Price Guide (Including VAT) — Schedule of Fees & Charges with effect from 30-07-2026”
• “Watani Credit Card / Supplementary Card (First) / 2nd Supplementary Card onwards - up to 9 cards — Free / Free / 313.95 — 2.75% — Service and Price Guide”
• “Donation Amount - Watani Credit Card 156.45 — Service and Price Guide”
• “International Transaction Fee for Purchase - Watani Credit Card in Non D currency / in D currency: 1.15% (0% bank + 1.15% scheme charges) — Service and Price Guide”
• “Cash Withdrawal Fee 3.15% or 103.95 (whichever is higher) — Service and Price Guide”
• “1. No profit on retail transaction balances will be levied if 100% of the statement outstanding balance is paid on or before the payment due date. — Service and Price Guide, Please note”
• “2. No Donation Amount (late payment) will be charged if Minimum Amount Due is paid on or before the payment due date. — Service and Price Guide, Please note”
• “1. Profit shall be applicable on the Murabaha transaction. — Service and Price Guide, Important Notes”
• “2.1 RAKBANK shall make available to the Cardholder the Credit Limit by way of a structured murabaha transaction whereby RAKBANK and the Primary Cardholder enter into a Murabaha Contract as described herein. — Islamic Credit Cards Terms & Conditions booklet”
• “10.9 If the Cardholder fails to pay the Minimum Amount Due by the Payment Due Date, the Donation Amount will be levied on the Card Account. RAKBANK shall retain the actual and direct loss or cost (excluding any loss of profit, cost of funding or any other amount in the nature of interest) incurred due to the missed payment from the Donationt Amount and pay the remaining to charity as approved by the Internal Shari'ah Supervision Committee. — Islamic Credit Cards Terms & Conditions booklet”
• “Customers who will apply/ have applied for the Watani Credit Card from 2023 till the 31st of December 2026 are now eligible for a lifetime annual fee waiver! Terms and conditions apply* — product page”
• “Spend AED 10,000 a month to avail 100% cashback on Salik & DARB credited into your account on the 7th of the next month • Maximum cap of redemption is AED 200 monthly — product page”
• “Minimum monthly salary / income AED 15,000 — product page”
• “Enjoy a welcome bonus of 50,000 RAKrewards* on spends worth a minimum of AED 10,000 Plus! Get RAKrewards for every AED spent in the following categories: • 5 for international transactions • 3 for domestic transactions • 0.6 for insurance and supermarkets • 0.5 on spends made in European Economic Area (EEA) countries • 0.4 on government, bill payment, transit, schools, real estate, fuel, vehicles, — product page”

• Product page
• Schedule of charges
• Terms and conditions