In Australia an Islamic credit card is a payment tool which is dedicated to australian muslim consumers who wish to respect the rules of sharia finance.
In Australia, the islamic credit card is dedicated to the australian islamic community which applies islamic principles in their daily life using different types of financial tools which are compliant with the islamic law.
An Australian islamic credit card prior beeing launched in the country will need to follow the Autralian financial regulations in view of the complex mechanism of such an ethical payment card.
The islamic credit card in Australia offers also similarly to conventional cards grace periods in terms of repayment where the user is not charged with interests but with fees as dictaded by islamic finance rules.
In Australia, the islamic credit card works on the basis of a small Murabaha where during a purchase through the consumer, the credit card issuer is owner of the purchase of the good until repayment by the card owner.
QARD El HASSAN CARD BAY AL INAH CARD TAWARRUQ CARD MURABAHA CARD TAKAFUL CARD CASH BACK CARD PREPAID CARD REWARD CARD FOR STUDENT WITH NO FEE WITHOUT INTEREST BAD CREDIT LIBYA QATAR PHILIPPINES UNITED-KINGDOM UNITED-STATES CANADA BANGLADESH NIGERIA TURKEY IRAN EGYPT INDIA CHINA ABU-DHABI BAHRAIN DUBAI INDONESIA MALAYSIA PAKISTAN R.A.K SAUDI-ARABIA SHARJAH IRELAND LIST OF ISLAMIC INSURANCE COMPANIES LIBYA QATAR AUSTRALIA