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Islamic Finance Briefing - Categorized | Financial Instruments (Credit Cards, Debts, Loans, Mort more

Can a credit card ever be halal?

Posted on 06 March 2009

From Bi-me.com: At first glance you’d be forgiven for thinking that a marketing brochure for an Islamic credit card must be some kind of elaborate hoax. But banks in the region are now making such seemingly impossible concepts a reality

We all know the arguments in favour of credit cards: “it enables me to spread payment for large purchases;” “it’s too dangerous to carry cash;” “sometimes a card is a prerequisite for transactions such as Internet purchases and rental collateral”. …. Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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