Saadiq Platinum Murabaha

What makes this card Islamic

Standard Chartered Saadiq 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.

Commodity Murabaha (tawarruq in substance). Per the UAE Internal Shariah Supervision Committee's own pronouncement: the bank buys commodities from Trader 1, sells them to the customer on deferred payment at a Murabaha price, the customer sells them on to a third-party purchaser, and the proceeds are held by the bank in an internal NON-PROFIT-BEARING account which the customer then draws on via the card. The bank 'may extend a discretionary discount on profit' based on factors such as balance transfer, payment behaviour or fixed payment plans.

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

What it costs

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

Annual fee

AED 300Primary card, first card(s).source

Supplementary card

AED 150First 4 regular supplementary cards free; AED 150 from the fifth onwards.source

Profit rate

3.25% a month on the outstanding balance3.25% per month on both retail and cash transactions, calculated on the average daily balance method from transaction date until repayment date.source

Cash withdrawal

AED 0

Late payment

AED 0

Over limit

AED 0

Foreign currency spend

2.99% on top of the exchange rate

Replacement card

AED 150

What you get back

Other benefits

• Balance Transfer / Easy Pay / Smart Payment Plan up to AED 1,700

Before you apply

• WITHDRAWN. No product page exists; https://www.sc.com/ae/credit-cards/saadiq-titanium/ returns 404 and the Saadiq Platinum URLs redirect to the credit cards index (verified 2026-08-17). Standard Chartered UAE now markets a single Saadiq credit card.

Can you get it?

Other conditions

No product page survives, so no eligibility criteria are published.

Where these figures come from

Last checked against Standard Chartered Saadiq’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.

• “ISSC has reviewed the following documents relating to SCB's Islamic Credit Cards Product based on Commodity Murabaha structure: 1. Master Murabaha Terms and Conditions 2. Master Agency Terms and Conditions 3. Credit Card Terms and Conditions — ISSC Pronouncement, 5 December 2021”
• “5. The proceeds will be kept by SCB in its internal non-profit bearing account and the Customer will be permitted to use the proceeds via credit card provided by SCB. — ISSC Pronouncement”
• “6. The Bank may extend a discretionary discount on profit and offers on the credit card based on various factors such as Balance Transfer or payment behavior or fixed payment plans. — ISSC Pronouncement”
• “ISSC hereby rules that the Islamic Credit Card offered by SCB - Saadiq is in accordance with the principles of Shariah and customers can take advantage of this facility, which relieves them from interest-based products. — ISSC Pronouncement”
• “No Profit rate (excluding for Cash Advances) will be levied in case 100% payment is made on or before the payment due date. — Service and Price Guide, SAADIQ CREDIT CARDS, Please note”
• “Foreign Transaction Charge Up to 2.99% of the transaction amount — Service and Price Guide, OTHER FEES AND CHARGES ACROSS SAADIQ CREDIT CARDS”
• “Card Replacement Fee 150 — Service and Price Guide, OTHER FEES AND CHARGES ACROSS SAADIQ CREDIT CARDS”
• “Payment due date from statement date 20 days — Service and Price Guide”
• “Minimum amount due 1% of the principal balance plus all fees and charges (profit rate, late payment fees etc) or AED 110, whichever is higher — Service and Price Guide”
• “Cash advance (% credit limit) (Limit decided at customer level) Up to 50% — Service and Price Guide”
• “Saadiq Platinum Murabaha (Mastercard) Charges (AED) Annual Fee Primary card First card(s) 300 — Service and Price Guide”
• “Profit rate (per month on all transactions) Calculated on average daily balance method from transaction date till repayment date Retail Transactions 3.25% Cash Transactions 3.25% — Service and Price Guide, Saadiq Platinum Murabaha”
• “Other fees & charges Monthly Maintenance Fee N/A Overlimit charge 0 Late payment charge (if minimum amount is not paid by payment due date) 0 Cash Advance Fee 0 — Service and Price Guide, Saadiq Platinum Murabaha”
• “Balance Transfer / Easy Pay / Smart Payment Plan Up to AED 1,700 — Service and Price Guide”

• Schedule of charges