MURABAHA CARD MURABAHA CREDIT CARD 2023
A Murabaha credit card in 2023 is defined by an Islamic credit card that is made available to a Muslim consumer who wishes to make payments on Murabaha basis according to the principles of Islamic law.
The Murabaha credit card is intended to allow the Muslim user to buy goods and services in the framework of Islamic finance that is not using interest rates or Riba that is haram in Islam.
The Murabaha card proposes the principle of letting the user buy a property in the name of the bank and then move from agent to buyer on the basis of the Murabaha principle the bank charing a profit fee on the transaction that is different than interest rates with conventional credit cards.
The Murabaha credit card in 2023 for its restriction to allow its user to withdraw cash money may not be competitive because this function is important for Muslim consumers, but purchasing goods and services with an ethical payment instrument is crucial in Islam.