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North America’s first Muslim MasterCard due to launch soon

Posted on 14 April 2010

From AFP: A Canadian Islamic financial institution is launching Canada’s first “halal-approved” credit card this month and will also offer it to US Muslims by year end, its president told AFP on Tuesday.

The iFreedom Plus MasterCard meets the requirements of Sharia law, which prohibits usury, by being prepaid and therefore interest-free, said Omar Kalair, president of Toronto-based UM Financial…………………………………Full Article: Source

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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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